GEPL Capital's Anilsingh Thakur on Bloomberg UTV show Minting Money discussing commodities

Watch GEPL Capital's Anilsingh Thakur answering live queries on commodities on Bloomberg UTV show Minting Money:

Commodities outlook:
We are quite optimistic for the commodities space and expect the base metals to move higher towards the end of the fourth quarter. We expect copper prices to test around 4450 levels and nickel which has a minor resistance at 1050 levels and a move above the same shall test 1200 levels.

Gold:
The trend for Gold is no doubt up but some weakness can be expected in intraday in a day or two. $1790 is major support below which if it moves can witness $1760 -- 1740 levels where the client can average his existing long positions. The time frame for the same shall be till the year end.

Silver:
We look to buy silver only above 67000 till then we advise to sell on every rise targeting 63000 levels.

Natural gas:
We advise the client to square off his long position around 195 levels and wait for the inventory and buy after that as we expect some correction from present levels

Crude oil:
Long: The price has moved after a long consolidation on the daily chart hence some more upside cannot be ruled. We advice the client to hold his long position with a stop below 4200 targeting 4290 and 4310 levels a move above 4310 shall test 4350 and 4400 levels.
Short: As the price trend is up we recommend the client to square his short position at cost and buy with a stop loss of 4200 for the said targets.

Turmeric:
The trend for turmeric prices is down and 4300 -- 4000 levels can be tested. There in the next contract we can go for long term buying targeting 4800 -- 5000 in the 2 -- 3 months.

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