In an exclusive interview, Bharath Kumar, Global Financial Market, speaks about various commodities and gives his outlook going forward.

Q: What would your strategy be on crude now? Would you choose to go long considering the kind of upmove that crude is seeing?

A: Yesterday we a have seen the bounce from USD 88.50 per barrel, I think lot of short covering has happened and fresh long positions are little bit being built up. So for today, I think as the market comes to around the Rs 3,730 or 3,735 per barrel range in terms of MCX May contract, one can initiate long positions. Unless it is trading above Rs 3,700 per barrel, which happens to be the stop loss, we prefer to be on the buy side, initially targeting Rs 3766 per barrel on the higher side.

Q: What about copper would that also be a hold for you or a buy call and would you have some levels that you can watch out for in copper?

A: I think copper also it has shown very good support at around Rs 341 per kg range incase of April MCX contract. So as it comes to around Rs 346 per kg range one can initiate long positions, stop loss being below Rs 343 per kg. I think we can see around Rs 340.50 per kg in the evening trading session. So, I think even copper is showing good resilience at the lower ranges.

Q: Apart from copper, what would your best bet be now in the entire base metal gamut?

A: In case of base metals, we are still bullish on nickel and then afterwards in case of zinc yesterday at the lower ranges long positions have been built up. So I think zinc and nickel seem to be promising at these particular ranges.