Volatility in equity markets has seen investors shift from high risk assets to commodities. But is this the smart investment? Experts give their views on the hot commodities of the day.
Gold:Even though overall gold prices are sloping towards the negative, in the short term, there are some positive factors coming in. “Any dip to Rs 21700-21725 is an opportunity to buy,” says T Gnanasekar of Comm Trendz Research and Fund Management. His target price for Gold MCX with expiry in August is Rs 21825-21850.
Copper:Rajini Panicker, MF Global Commodities India recommends to go ‘long’ on August Copper on the MCX. Their buy levels are around Rs 416-418, with a stop loss of Rs 411. “Our target level is Rs 428-434,” says Panicker.
Aluminium:According to Anand Rathi Commodities, this metal is looking weak for the next couple of days. Kishore Narne has a ‘sell’ view for MCX July aluminium futures at Rs 112-111 levels with a target of Rs 107. His stop loss level is Rs 115.
Crude oil:Ashish Shah from Sushil Global Commodities says that he doesn’t expect to see any major changes in this counter as long as crude oil trades below Rs 4300. He recommends intra day traders to go ‘short’ at Rs 4270, with a stop loss of above Rs 4320. Their target is Rs 4150-4170.
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