- Global crude oil prices have climbed to a largeness of 9 months. NYMEX crude oil exchanging above $ 107 and $ 113 are Brent. The extremist roughness in Iraq has expanded the strain. Then, the U.S. military activity in Iraq cautioned. OPEC crude supply from Iraq, including that the effect is anticipated. Consequently, crude oil has gone up.
- Crude oil in the domestic market has additionally climbed. MCX crude oil over 6300 with an increase of 1 percent is arrived at. Notwithstanding, regular gas has a small margin. MCX Natural gas is exchanging around Rs 283.
- Gold and silver have seen a small margin. With an increase of 0.25 per MCX silver trading above Rs 41350. Gold is exchanging above Rs 26 350. In the global business, gold – silver increased. Furthermore, the rupee weak point was likewise gold – silver discovered support.
- Agri commodity growth in turmeric looks great. September futures on NCDEX turmeric is 1.7 percent improvement. Cumin June and September futures climbed 1 percent. Nonetheless, a huge decrease in coriander. June futures 1.5 percent coriander is damaged. Guar gum is likewise selling weight.
- Asian markets are under pressure after a wave of risk aversion across global markets due to violence in Iraq.
- Additionally, US economic data was disappointing with retail sales and weekly job loss claims coming below estimates.
- The dollar down for a second straight session on weak data and the euro recovered by 0.25% against the greenback.
MCX Copper (June futures): Buy – 395, stoploss – 390, Target – 404
MCX Gold (August Futures): Sell – 26500, stoploss – 26800, Target – 25700
Courtesy: intradaylivetips