Commodity Tips Of Today Market | 10 Aug

The Commodity Tips Provider says that The Crude oil recovery has come after yesterday's heavy fall. Although extremely sluggish business is happening and NYMEX crude is at the bottom of last 2 months. Brent also has a recovery from the lower level of the last 3 weeks. The price of crude jumped up to 3.5 percent yesterday. In fact, China is preparing to increase imports duty on crude and petroleum products from the US. At the same time, the crude oil reserves declined in the US. In such a scenario, there is a double pressure on prices.

Speaking of base metal, today, the price of aluminum in China has gone up to the last two months. In fact, the strike in Alcoa Plant of Australia is likely to affect its supply. Nearly 8 percent of the world's alumina production comes from this plant. At the same time, there is a slight recovery in gold and silver due to softening of the dollar. But the expressions are in very small scope. The rupee is seen stronger than the dollar today. The fall in crude oil prices has given support to the rupee and the price of 1 dollar has come to Rs 68.50.

Rudra Investment Commodity Tips

  

NCDEX Soybean:

Sell - 3375

Target- 3300

Stop loss - 3415

NCDEX Castor Seed:

Buy - 4700

Target - 4800,

Stop loss - 4760

NCDEX Coriander:

Sell – 4980

Target - 4940

Stop loss – 5010

MCX Aluminum:

Buy – 144

Target - 147.5

Stop loss - 142

MCX Crude Oil:

Buy - 4550

Target - 4500,

Stop loss - 4580