Crude Oil Trend :- World's largest oil producer Saudi Arabia have questioned about crude oil prices rise. Saudi Arabia's Oil Minister Ali Al-Naimi said that no solid reason behind crude oil price boom and prices are not qualified in any way. U.S. Energy Department report will come on Wednesday. As well as market wait for Federal Reserve meeting and German court's decision which could pave way to help the Euro Zone. Therefore today Crude Oil business is very slow. Currently MCX crude oil is trading at Rs 5340 with jumped of 0.25%. MCX Natural gas is close to Rs 157 with gain of 3.2%.
MCX Crude Oil & Natural Gas Tips Today
Crude oil September futures Sell - 5350-5360, stoploss – 5400, target - 5280
Natural Gas September Futures Buy - 154-155, target – 161, stoploss - 152.
Before the meeting of Federal Reserve, gold and silver has been sluggish. MCX gold has declined. MCX Gold with fluctuation business is trading at Rs 31 930. While silver is trading at Rs 63 920 with a decline of 0.1%.
MCX Bullion Gols Silver Tips Today
Gold October futures Sell - 31 850, target – 31500, stoploss - 31 980.
Silver December futures Sell - 63 750, stoploss – 64100, target - 63 200.
Base Metls is also declining trend today. Copper price has come down from upper level of 4 months but London Metal Exchange (LME) Copper price is still above $ 8,000. MCX Copper is trading above Rs 450 despite of decline. MCX Copper is seeing decline of 0.5%. Other base metals also has weakened 0.5-1%
MCX Base Metals : Copper, Zinc, Lead Tips
Copper November futures Sell - 452, target – 448, stoploss – 455.
Zinc September futures Sell - 109, stoploss – 109.7, target - 108
Lead September futures Sell – 115.7, target – 114, stoploss – 116.5.
NCDEX Sugar Trend and Tips Today :- Sugar is still seeing light growth. At the end of Month Government will issue first estimates on Sugar production in next season. It is believed that in terms of domestic consumption of Sugar will produce enough but much sugar for export will not be next season. Food Minister made it clear that the Sugar Decontrol reporton has been prepared and it will be handed over to Prime Minister very soon.
NCDEX Agri Commodity Tips Today
Sugar October futures Sell - 3570, stoploss – 3610, target - 3500
Chana October futures Sell - 4650, target – 4550 - 4400, stoploss – 4720.
Turmeric October futures Sell - 5550, stoploss – 5650, target – 5400.