Best Commodity Tips | Weakness in rupee has increased due to the dollar. The dollar's price has dropped to a low of 19 months. The price of 1 dollar is near 68.5 rupees. This year, the rupee has weakened by about 8 percent. However, the rise in the dollar has glossed the glow of gold in the global market. It has fallen to the lowest level in the last 6 months. Currently it is trading at $ 1,555. There is also a fall in silver and it costs around $ 16.
On the other hand, crude oil has become expensive due to fear of shortage in supply. Brent's price has crossed $ 76. While NYMEX crude is trading above $ 70. US sanctions on Iran are expected to affect crude supplies. On the London Metal Exchange, the metal is trading in very small scope.
Meanwhile, the pre-monsoon rains have started in West-North India. According to the Meteorological Department, monsoon can knock Delhi at the end of this month. It will take about 48 hours to reach Uttar Pradesh.
Rudra Investment Best Commodity Tips
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Mustard NCDEX (July Futures)
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Buy - 3940
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Stop-loss - 3900
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Target - 4040
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Cotton NCDEX (April futures)
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Buy - 1150
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Stop-loss - 1132
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Target - 1185
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Gold MCX (August futures)
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Sell - 30620
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Stop-loss - 30755
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Target - 30350
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Nickel MCX (June futures)
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Sell - 1006
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Stop-loss - 1013
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Target - 987
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