@@ CRUDE MCX Crude is in a narrow trading band as the skepticism - TopicsExpress

@@ CRUDE MCX Crude is in a narrow trading band as the skepticism for further pullback rally in prices look dim. The prices managed to corner some gains of Rs 53 per barrel and settled at Rs 6295 per barrel. Going forward the cap of Rs 6350 and 6400 is near. The prices are expected to succumb from those levels to move down. Interesting to note, that open interest in the near month contract has shown steady decline in last few days. Even the volumes have declined to 103563. The base for this contract is at Rs 6210 per barrel levels. TRADING STRATEGY: SELL AROUND 6350-6360 , TARGET 6270 SL 6440

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