A major meeting of the Federal Reserve is going to begin today in the US. There may be a decision to increase interest rates in this meeting. Which will be the first interest rate hike in the US this year. Before this, the pressure is seen in gold. Together with silver is weak.
Recovery in crude oil has come today. Brent's price has crossed $ 66. Indeed, the US can again put economic sanctions on Iran. At the same time, the production of crude oil in Venezuela has decreased greatly due to financial constraints.
Base metal has declined all the way. In fact, on LME, the copper is weak for the fourth consecutive day and in the last one month, it has broken about 5%. At the same time, the reserves of aluminum in China have gone to the record level. Meanwhile, the US has indicated to increase China's imports further.
Talking of agri, there is a decline in soybean. It is 1 percent broken in futures. Selling in Mustard also dominates today. Due to fall in food oils, there is pressure on mustard prices. In order to increase the income of the farmers, the government is going to make big changes in the agricultural market and in this direction the function of mandis has also increased the focus of the government on the trade policy. The central government has issued a draft agri trade draft policy.
Investment Advice of Rudra Investment Stock And Commodity Expert
Lead MCX (March futures): Sell - 154.50, StopLoss - 155.80, Goal - 152
Copper MCX (March futures): Buy - 445, StopLoss - 442, Goal - 450
Crude oil MCX (April futures): Buy - 4050, StopLoss - 4015, Target - 4120
Natural gas MCX (March futures): Buy - 173, StopLoss - 170.50, Target - 177
Silver MCX (May futures): Sell - 38480, StopLoss - 38650, Target - 38100
Aluminum MCX (March futures): Buy - 134.80, StopLoss - 134, Goal - 136.20
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