Rudra investment | Commodity Markets: Crude Oil Careful

RUDRA INVESTMENT

Today, after the heavy downturn yesterday, crude oil is being looked into. Although the business is going on in very small scope. In yesterday's crude, there was a sharp decline of about 2.5 percent. In fact, with the increase of 24 million barrels of crude in the US, the US Energy Department has increased the estimate on crude production. According to the agency, this year, the production level can go up to 18 million barrels per day. At the same time, the level of production is estimated to be 12.1 million barrels next year. Along with this, EIA has reduced estimates on crude prices.

Meanwhile, there is a very slow business in gold and silver. In fact, the US has indicated a rebate of import duty to some countries like Canada and Mexico. In such a situation, the risk of trade war is somewhat weak. The holdings of SPDR Gold have come down, and last year the import of gold has declined in India.

Talking of metals, the import of copper has decreased in China last month. At the same time, the increase in import duty in the US has increased the stock of aluminum in London Metal Exchange's warehouses. In the warehouses of Shanghai Exchange, this has gone to the record level. In such a situation, aluminum is very sluggish in the domestic market and it is trading near the last one month's low level.

Soybean has declined in agri commodities today and its prices are around 1 percent below. In fact, food oils are showing dullness. At the same time, there is an estimated rise of mustard seedlings. Meanwhile, gram has also weakened under the pressure of inward pressure. Because in Maharashtra, Madhya Pradesh and Karnataka, there is catching upward pressure on the new gram.

Investment Advice of Rudra Investment Stock And Commodity Expert

Cotton Open NCDEX (April Futures): Buy - 1460, Stoplaus - 1440, Target - 1520      

Soybean NCDEX (April futures): Buy - 3780, Stoplaus - 3740, Goal - 3860                     

Mustard NCDEX (April futures): Buy - 4180, Stoplaus - 4140, Target - 4240                        

Nickel MCX (March futures): Sell - 880, Stoplaus - 900, Target - 840      

Zinc MCX (Mar futures): Sell - 214, Stoplaus - 215.40, Target - 212               

Gold MCX (April Futures): Buy - 30460, StopLoss - 30380, Target - 30560     

Silver MCX (May futures): Buy - 38600, Stoplaus - 38200, Target - 39100            

Crude oil MCX (April futures): Sell - 4000, Stoplaus - 4060, Target - 3940                  

                                                           

           

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