The commodity space has been buzzing as gold continues to attract investors with its undying glitter. In an interview to CNBC-TV18, Tarang Bhanushali, assistant vice president — research with India Infoline says that the price of the yellow metal is only set to climb higher in the month of September.
"We wouldn't be surprised if gold manages to cross the 1900 mark in September,” says Bhanushali. He maintains a buy for gold MCX September, and advices to accumulate at Rs 27,000 with a target of Rs 28,200 and stop loss of Rs 26,600.”
Meanwhile, Ashish Shah of Sushil Global Commodities advices to keep a long call on copper MCX September. “Copper has been trading positive in the last few trading sessions, but the key support for the overall trend is close to about Rs 409 to Rs 410,” says Shah.
Further, he says the near term strategy would be to look for a dip at Rs 415 to Rs 416, as a range to go long with stop loss below Rs 409 and working on a higher side of an overall target of Rs 425 to Rs 430.
Recommending a call on crude, N Prasad, CEO of Safetrade Advisors says it is a buy for crude MCX September contract at Rs 4,070. “Keep a stop loss of Rs 4,020 for target of Rs 4,160 in the late evening session,” Prasad added.
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