Kunal Shah, Head of Commodities & Currency Research at Nirmal Bang Commodities discusses with Ekta Batra the current trend in commodities markets.

Shah has a bullish view on aluminium. According to Shah, the prices of raw materials like alumina, bauxite, etc. have moved up exponentially and with new sanctions it is going to be bullish for aluminium. He said, “Already prices have risen by more than 7 percent. In the short term we are not expecting such abrupt move going forward. Overall view is bullish but not aggressively bullish from these levels. I would not recommend to go and buy at these levels; wait for a correction or profit taking and then you can re-enter around Rs 138 for upside target of Rs 144-145.”

Check out his top recommendations.

Go long in zinc. It is a good time to re-enter in long position. Rs 210 is a good level to go long for upside target of Rs 214-215 on MCX.

Go long in silver. Rs 38,350 is a good level to go long for upside target of Rs 38,850.

Go short in crude oil. Rs 4,150-4,160 is a good level to go short for downside target of Rs 4,070.

First Published:Apr 10, 2018 12:56 PM IST