MY: Commodity Bets: Trading ideas for crude, silver & nickel
Kunal Shah, Nirmal Bang Commodities believes that crude still looks weak. He saw a massive built up in inventory for crude oil yesterday and feels that oil prices are likely to go down. He advocates going short in MCX crude oil at Rs 5,325 per barrel with a stop loss of Rs 5,375 per barrel for target levels of Rs 5,240 per barrel.