10:23 PM
Analyst
Crude Oil
China's deepening recession fear is seeing a decline in crude oil today. First trading of the day NYMAX Crude oil slipped near to one percent and prices has reached 102 dollar per barrel. Nymax Crude with MCX Crude also is seeing heavy decline in the domestic market. However MCX crude oil slipped 0.6 % to Rs 5229 has come close. MCX crude oil in the domestic market last week closed at Rs 5,270.
@ You can Sell MCX Crude Oil at around 5230 June below Targets 5210, 5195 Stop Loss 5255.
Levels for the day
Resistance- 5289/5312.9
Support- 5189.1/5132.3
Natural Gas
First day of the Week MCX Natural gas is seeing Red signal. Currently Natural gas is in strong Downtrend and the trend is supported with good volume the open interest is not increasing with trend. Cautious point is buying at higher levels seems decreasing. MCX NG Resistance levels are 238, if this will be broken then next are 241. Best supporting levels is 231.7 to 227.
@ Advises for Day Trader can Sell Natural gas below 235 within may contract targets 234, 233 and Stop Loss 237.
China's deepening recession fear is seeing a decline in crude oil today. First trading of the day NYMAX Crude oil slipped near to one percent and prices has reached 102 dollar per barrel. Nymax Crude with MCX Crude also is seeing heavy decline in the domestic market. However MCX crude oil slipped 0.6 % to Rs 5229 has come close. MCX crude oil in the domestic market last week closed at Rs 5,270.
@ You can Sell MCX Crude Oil at around 5230 June below Targets 5210, 5195 Stop Loss 5255.
Levels for the day
Resistance- 5289/5312.9
Support- 5189.1/5132.3
Natural Gas
First day of the Week MCX Natural gas is seeing Red signal. Currently Natural gas is in strong Downtrend and the trend is supported with good volume the open interest is not increasing with trend. Cautious point is buying at higher levels seems decreasing. MCX NG Resistance levels are 238, if this will be broken then next are 241. Best supporting levels is 231.7 to 227.
@ Advises for Day Trader can Sell Natural gas below 235 within may contract targets 234, 233 and Stop Loss 237.
