7 commodity bets for short-term returns: Here's what analysts recommend
SUMMARY
Commodity markets have seen wild moves in the recent past, leaving traders scouting for opportunities to make money. Ample liquidity provided by central banks, supply disruptions, rising demand and fluctuations in the dollar have shaken commodities. Here are seven trades -- gold, silver, crude oil, edible oil and more -- analysts suggest for near-term gains.
Gold: Buy gold October futures around Rs 47,100 for a target price of Rs 47,480 with a stop loss at Rs 46,920. (Analyst: Manoj Kumar Jain, Prithvi Finmart)
Copper: Buy the red metal's September futures at Rs 714 for a target price of Rs 732-745 with a stop loss at Rs 698. (Analyst: Ajay Kedia, Kedia Advisory)
Natural gas: Buy September futures on MCX in the range of Rs 305-310 for a target of Rs 340/350 with a stop loss below Rs 290. (Analyst: NS Ramaswamy, Ventura Securities)
Refined soybean: Sell September futures on NCDEX below Rs 1,365 for a target of Rs 1,300-1,275 with a stop loss above Rs 1,425. (Analyst: NS Ramaswamy, Ventura Securities)
Silver: Buy the while metal's December futures at Rs 63,600 for a target price of Rs 65,200-66,600 with a stop loss at Rs 62,000.(Analyst: Ajay Kedia, Kedia Advisory)
Nickel: Buy nickel September futures around Rs 1,445 for a target of Rs 1,470 with a stop loss at Rs 1,430. (Analyst: Manoj Kumar Jain, Prithvi Finmart)
