Energy: Domestic oil futures were trading lower
tracking benchmark contracts on the New York Mercantile Exchange, where
prices declined following release of discouraging US non-farm payrolls
data. In domestic market, crude oil traded down on weak NYMEX cues and
appreciation in rupee against the dollar.
Dharmesh Bhatia of Kotak Commodities advises selling crude. Bagadia says, "Any rise above Rs 5,100 per bbl is a good level to short maintaining a stop loss of Rs 5,165-5,150 per bbl for a target around Rs 5,050 per bbl. One can expect the price heading towards Rs 4,950 per bbl also.
Dharmesh Bhatia of Kotak Commodities advises selling crude. Bagadia says, "Any rise above Rs 5,100 per bbl is a good level to short maintaining a stop loss of Rs 5,165-5,150 per bbl for a target around Rs 5,050 per bbl. One can expect the price heading towards Rs 4,950 per bbl also.
No comments:
Post a Comment