Prathamesh Mallya of Angel Commodities Broking discusses with Manisha Gupta the current trend in commodities markets.

On the metal space, Mallya said, “Metal space has been really talk of the town since last year. Even this year it has been the talk of almost the entire commodities pack. I think in the commodity space, nickel is something which I would favour as a commodity because there is a lot of positive sense that has been coming. Steel rally and besides that electric car vehicle seems to be story behind nickel. Immediate near term targets for nickel on the MCX would be somewhere around Rs 1,100 is what we are looking at.”

However, Mallya cautioned that a safe bet in the metals pack would be copper. He said, “If you want to make money in metal space I would sell copper at around Rs 470 mark and Rs 475 is the previous high, I would keep a stop out there, and look for target towards Rs 460.”

He also spoke at length about precious metals and crude oil prices.

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First Published:Jun 5, 2018 7:25 PM IST