Dani Commodities has come out with its report on
bullion, metals and energy. According to the research firm, one can buy
MCX Crude above Rs 5273 with a stop loss of Rs 5249 for a target price
of Rs 5310.
Crude oil futures jumped above USD 96 a barrel in Asia electronic session today, buoyed by the positive data releases.
Light, sweet crude oil for May delivery are trading up 6 cents at USD 96.64 per barrel on the New York Mercantile Exchange. It rose 24 cents, or 0.3%, to settle at USD 96.58 a barrel, after trading as low as USD 95.58. That was the highest settlement for a most-active contract since Feb. 19.
Oil prices had climbed by 1.6% on Tuesday to USD 96.34 after better-than-expected U.S. durable-goods orders, to tally a three-session gain of 4.2%. With Wednesday's gain, Nymex crude prices are up 6.5% so far in March, helped by expectations that a supply glut in the central U.S. had begun to ease and bring U.S. prices back in line with global benchmarks like Brent.
On Wednesday, the U.S. Energy Information Administration reported a 3.3 million-barrel climb in crude inventories for the week ended March 22. Analysts polled by Platts expected a 1.6 million-barrel climb.
The EIA will report its weekly data on natural-gas supplies on Thursday. Analysts polled by Platts forecast a decline of between 83 billion cubic feet and 87 billion.
MCX CRUDE OILInternational: Major Support for WTI at USD89 Bullish above USD 91
Domestic: Buy above 5273, Stoploss 5249, Target 5310.
MCX NATURAL GASDomestic: Sell at 222.50, Target 224, Target 220.
MCX NICKELDomestic: Sell at 922, Stoploss 929, Target 914.
MCX GOLDInternational: Major Support at USD1580. Bearish below USD1580.
Domestic: Sell at 29580, Stoploss 29620, Target 29510.
MCX COPPERDomestic: Sell at 416.50, Stoploss 418.50, Target 414.
(http://www.moneycontrol.com/news/brokerage-recos-commodities/buy-mcx-crude-above-rs-5273-target-rs-5310-dani-comm_844066.html)
Crude oil futures jumped above USD 96 a barrel in Asia electronic session today, buoyed by the positive data releases.
Light, sweet crude oil for May delivery are trading up 6 cents at USD 96.64 per barrel on the New York Mercantile Exchange. It rose 24 cents, or 0.3%, to settle at USD 96.58 a barrel, after trading as low as USD 95.58. That was the highest settlement for a most-active contract since Feb. 19.
Oil prices had climbed by 1.6% on Tuesday to USD 96.34 after better-than-expected U.S. durable-goods orders, to tally a three-session gain of 4.2%. With Wednesday's gain, Nymex crude prices are up 6.5% so far in March, helped by expectations that a supply glut in the central U.S. had begun to ease and bring U.S. prices back in line with global benchmarks like Brent.
On Wednesday, the U.S. Energy Information Administration reported a 3.3 million-barrel climb in crude inventories for the week ended March 22. Analysts polled by Platts expected a 1.6 million-barrel climb.
The EIA will report its weekly data on natural-gas supplies on Thursday. Analysts polled by Platts forecast a decline of between 83 billion cubic feet and 87 billion.
MCX CRUDE OILInternational: Major Support for WTI at USD89 Bullish above USD 91
Domestic: Buy above 5273, Stoploss 5249, Target 5310.
MCX NATURAL GASDomestic: Sell at 222.50, Target 224, Target 220.
MCX NICKELDomestic: Sell at 922, Stoploss 929, Target 914.
MCX GOLDInternational: Major Support at USD1580. Bearish below USD1580.
Domestic: Sell at 29580, Stoploss 29620, Target 29510.
MCX COPPERDomestic: Sell at 416.50, Stoploss 418.50, Target 414.
(http://www.moneycontrol.com/news/brokerage-recos-commodities/buy-mcx-crude-above-rs-5273-target-rs-5310-dani-comm_844066.html)
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