A buy call for crude oil: Ashish Shah

Ashish Shah, Research Head (Commodities), Sushil Finance, talks to ET Now on agro and non-agro outlook.

Let’s start with crude first and that really has taken everybody’s fancy. How are you playing it?

If you are looking at crude from a very short-term perspective, then still the momentum is positive but as far as 2011 closing would be concerned, crude would average anywhere between $95 to probably 102 on the higher side. I do not see it really rallying above the 102-105 mark but for intraday traders, I am still looking at crude as a buy call. 4920, 4940 should be looked as buying opportunities. On a higher side targets of 5020, 5030 and once that breaks, maybe even 5100 is possible.