Ashish Shah, Sushil Finance, discusses with Manisha Gupta the current trend in commodities markets.

“The current fundamentals are definitely suggesting an upside on this commodity. But I think it is going to be very short-term and probably as long as the geo-political tension and concerns continue, the prices may rally,” Ashish Shah said.

He expects crude to rally by about $2-2.5. but that is on a medium term basis.

For intraday he suggested buy on current dips at Rs 4,800 with a stop loss below Rs 4,750 and a strict target of Rs 4,875 and 4,800.

Talking about rupee, he said, “Dollar-Rupee against the dollar has been weakening and the weakness will continue. I think it will again soar high to about $68 mark. So, $68-68.50 is where you will see the dollar-rupee almost rallying and that is the price or that is the target I am currently maintaining.”