Mr Shreekant Jha MD of PJ Commodity Ventures believes that gold has started a new trend on the upside. He thinks that INR 30,500 per 10 grams is the first target that he would see on MCX. You can buy gold at INR 30,300 for a target of INR 30,500.

Mr Dipen Shah business Head of Stayvan feels that crude is again facing huge resistance at INR 5,400 on MCX. He advocates initiating short trade till the target of INR 5,300 per barrel with a stop loss of INR 5,410 per barrel.

Mr Ravindra Rao of Motilal Oswal feels that copper is looking positive. He feels that it has sustained at INR 415 per kilogram levels and is trading above INR 420 per kilogram. He expects the prices might go up till Rs 425-427 per kilogram. Dips towards INR 420 to INR 419 per kilogram should be used as a good buying opportunity with a strict stop loss of INR 414.80 per kilogram on the lower side. One can take a target of INR 425 to INR 427 per kilogram on the upside.

Mr Sumeet Bagadia of Destimoney Commodities reckons that lead prices would move down and touch levels of around INR 103 per kilogram in next couple of days. He recommends using rise in prices till INR 107 per kilogram as selling opportunity with a stop loss to be placed at INR 109 per kilogram on higher side for the downside target of INR 105 per kilogram and below that INR 103 per kilogram.

Source - Money Control.com

(www.steelguru.com)