A: Copper has gone into very negative territory with current sells, so could expect some bounce backs to Rs 303-305 but there can again be selling pressures from those levels because base metals are still on a broader picture very weak because there is not good demand from emerging market like China and to some extent the demand from India has also dropped. So, base metals on a broader picture very weak but there could be some short covering because of the extensive selling which all the base metals faced last week. Copper could face resistance at Rs 305-306 levels. From a trading perspective, any correction to Rs 294-295 could be a buying opportunity but then again profit booking at Rs 300 levels. For a positional copper is yet to see Rs 285-280 on the downside. Q: You are buying crude this morning? A: Crude is still expected to test USD 79.5-80 per barrel. Basically, it has opened up with a gap this morning so you can see some profit booking from current levels. A good optimum level to buy is somewhere between, Rs 3500-3520 that is approximately USD 77.5 per barrel with an upside to USD 80-80.5 per barrel. So would wait till crude comes to Rs 3500 and then buy at those levels with a stop loss of Rs 3460. Q: Where would this rebound in risk appetite leave something like gold, how would you trade gold? A: Gold, internationally, has given a good breakout. So USD 1300-1320 is in hindsight; any dip to USD 1245-1250 per ounce could be a good buying opportunity in gold. Given that rupee has appreciated it could see some spoilsport in the Indian price in terms of gold but there is some depreciation expected to 46 back on the Indian rupee. This could give some support on Indian price for gold. But on a broader international picture from a fortnight to one month time frame, USD 1300-1320 per ounce is possible and every dip could be a god buying opportunity in gold.

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