MCX INTRADAY TRADING TIPS 27 July

MCX Crude Oil Outlook - In today’s session, we expect crude oil prices to trade on a  positive note on the back of  upbeat global  market sentiments along with hopeful statement from the ECB President. Additionally, weakness in the DX will also help upside support  in  crude oil prices. However, appreciation in the Indian Rupee will cap sharp gains on the MCX.

MCX Natural Gas Trend - MCX Natural Gas July contract rose around 0.2 percent and closed at Rs.172/mmbtu after touching an intra-day high of Rs.174.9/mmbtu in yesterday’s trading session. However, further upside movement in prices was capped on the back of appreciation in the Indian Rupee.

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CRUDE UPDATES : MCX Crude Oil News and Tips

CRUDE OIL TREND :-

Crude oil prices touched an intra-day high of $107.64/bbl and closed at $107.3/bbl  on Wednesday. On the MCX,  Crude Oil April contract  increased by 0.9 percent and closed at Rs.5443/bbl after touching an intra-day high of Rs.5467/bbl yesterday. Crude  prices  are expected to trade within 5460 to 5370. Any  close above 5460 should witness buy interest in the counter.

Crude Oil Support and Resistance :-

Crude Oil (April) : S3 - 5330, S2- 5375, S1- 5420,R1- 5460, R2- 5485, R3- 5520

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