Profitable Commodity Tips | Crude oil recovery has come after yesterday's heavy fall. Although there is a very sluggish business, 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.
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 68.5 rupees.
Rudra Investment Profitable Commodity Tips
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NCDEX Soybean: Sell –3375 Target – 3300 Stop loss - 3415
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NCDEX Castor: Buy- 4700 Target – 4800 Stop loss – 4760
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NCDEX Coriander: Sell- 4980 Target – 4940 Stop loss - 5010
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NCDEX Chana: Buy- 4170 Target – 4260 Stop loss – 4140
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MCX Aluminum: Buy – 144 Target - 147.5 Stop loss - 142
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MCX Crude Oil: Sell – 4550 Target – 4500 Stop loss - 4580
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