Commodity Market : Today Trading Strategy

commoditiesOPEC meeting in June, expected to no cut in Crude Production, pressure on oil price increased. At NYMAX Crude oil price slipped 1% go below $46 while Brent crude slipped to 1%. At MCX Crude Oil traded below Rs 2900 down 1.75% while Natural Gas down 2% traded near Rs 170.

Gold has been turned from upper level in global market despite of pressure at COMAX Gold price is above $1180. Silver also traded under pressure. Today INR slightly strengthened against US dollar. At MCX Gold traded near 26109.00 and Silver traded near 37410.00.

In Base Metals Aluminium is looking near Rs 115 gained 0.27%, while Copper gained 0.51% traded near RS 385. Lead trending flat traded near Rs 112, and Nickel gained 0.37% traded near Rs 885. Zinc traded near Rs 128.

In Agri Commodities Soya oil April Future gained 0.6% and Dhaniya April Future slipped 2.22%.

Buy NCDEX Ref. Soya oil April Future at 585 target 589 stop loss 581.20.

Buy NCDEX Dhaniya April Future above 7604 target 7708.66 stop loss 7458.66.

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