Initial weakness in Crude oil was over, now the price raised 0.50%. Actually Crude oil price jumped to 5 month above level in global market. At MCX the Crude oil May future traded at 3775.00 up 0.53%, while natural gas May future declined 0.42%.
Federal Reserve were not raised its rates, and also gave no indication of further action. But Gold and Silver weakness increased. At MCX Gold June future price broke 0.21% and Silver May future slipped 0.34%.
In Agri Commodities we are seeing pressure on Jeera price after 25% up-trend in this month. Turmeric and Dhaniya is trading with gain. Soyabean price increased 2.5%.
NCDEX AGRI TIPS
Buy Soyabean NCDEX June Future above Rs 4074 Target 4100 Stop loss 4050.
Buy Channa NCDEX June Future at 4265 Target 4315 Stop loss 4240.