Sell Cruideoil Below 6380 Sl Above 6450 Tgt 6300/6250 - Axis Securities Ltd
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CRUDEOIL
MCX Crudeoil opened on a flat note and witnessed selling for most part of the session. The chart pattern suggests that if Crudeoil breaks and sustains below 6380 level it would witness selling which would drag the price towards 6300-6250 levels. Important resistance for the day is placed at 6500.
SELL CRUDEOIL BELOW 6380 SL ABOVE 6450 TGT 6300/6250
COPPER
MCX Copper opened sharply lower with a downward gap and selling pressure throughout the session. The daily strength indicator RSI is moving downwards and is quoting below its reference line indicating negative bias. Copper continues to remain in a downtrend in the short to medium term, so selling on rallies continues to T 3 be our preferred strategy.
SELL COPPER BELOW 765 SL ABOVE 769 TGT 760/756
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