Energy: Domestic crude oil futures were trading higher
due to depreciation in rupee against the dollar and tailing mild upward
recovery in benchmark contracts on the New York Mercantile Exchange. The
upward recovery in NYMEX crude oil futures, however, was restricted, as
market is awaiting release of key weekly US oil inventory report on
Wednesday.
MCX Crude oil April contract is looking positive for the day. Market may find support near 5070 & 5020; intraday resistance can be seen near 5140 & 5210. Day traders are advised to buy intraday on dips. (Buy around 5070 with SL 5020, for the target of 5140 & 5210.)
MCX Crude oil April contract is looking positive for the day. Market may find support near 5070 & 5020; intraday resistance can be seen near 5140 & 5210. Day traders are advised to buy intraday on dips. (Buy around 5070 with SL 5020, for the target of 5140 & 5210.)
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