Himanshu Gupta of Karvy Stock Broking recommended going short on crude, zinc and gold.

Gupta said, “ We have been seeing crude oil prices trading in a band of $67-70 per barrel and we have also seen the production increasing from OPEC, Russia, and Saudi Arabia which is actually putting a cap on the prices at the higher levels. I expect prices to stay within this range for a while and eventually break down. So I will be looking to go short on pullbacks. On MCX August one can go short around Rs 4,785 for target of Rs 4,700 and a stop loss of above Rs 4,815 would be recommended for the day.”

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