The European central bank action to inject cheap funds is going to be beneficial for precious metals and silver could gain from that, says T Gnanasekar Director Comm Trendz Research & Fund Management. "It has to do some catch up with gold prices. It has not really performed well recently," he says adding, "We believe any dips to Rs 58,300-58,350 per kg can be bought with a potential target of Rs 59,000 per kg and stop loss at Rs 58,000 per kg."
Buy MCX March contract crude oil at around Rs 5,370 per barrel with a stop loss of Rs 5,320 per barrel for a target of Rs 5,420 per barrel, advises N Prasad of Safetrade Advisors.
Lastly, Dipen Shah, Business Head -Stayvan.com says, "We saw a good rise in base metal prices yesterday as expected, barring Nickel. We expect it to play a catch up game today. So, Nickel February contract on MCX can be bought at Rs 985 with a stop loss of Rs 975 for a target of Rs 1005, which should be a good trade."
Source ; http://www.moneycontrol.com/
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