MAY 30 FRIDAY
SHORT TERM TREND : BEARISH : TARGET RS 5330
LONG TERM TREND : BULLISH TARGET RS 5890
S1 RS 5375, S2 RS 5330, S3 RS 5290
R1 RS 5438,R2 RS 5472, R3 RS 5515
PREFER SHORTS AT RS 5435 TO 5440
STOP LOSS RS 5472
TARGET RS 5375
CRUDE OIL crash $ 4 on Thursday
US DOE said that crude oil supplies were down 8.8 mn barrels
to 311.6 mn barrel less than expected.600,000 barrels were
also added to the Strategic Petroleum Reserve .
July crude oil finished $ 4.41 at $ 126.62 after the DOE said
that the drop in crude oil supplies due to temporay delays
in unloading tankers in the Gulf of Mexico.
Crude oil for July delivery fell as much as $1.95, or 1.5 percent, to $124.67 a
barrel in electronic trading on the New York Mercantile Exchange. It traded at
$125.30 at 8:48 a.m. London time.
Friday, May 30, 2008
Thursday, May 29, 2008
UPDATED ON MAY 29 2008
MAY 29 THURSDAY
SHORT TERM TREND ; BULLISH : TARGET RS 5720
LONG TERM TREND ; BULLISH ; TARGET RS 5890
S1 RS 5567, S2 RS 5530. S3 RS 5475
R1 RS 5648,R2 RS 5682, R3 RS 5720
MARKET IS EXPECTED TO MOVE SIDEWAYS TO HIGHER.
Crude oil bounces off an earlier low just below $ 126 after being pressured
by a stronger Dollar and concerns that high prices are curbing demand.
The bounce was more technical with the sell off a bit too sharp and once
again the buyers have stepped in to buy on dips.
Crude was pressured early by the Dollars strength as it extended gains
after a report showed new orders for US Durable goods for April
fell less than expected.
Nigerian crude oil exports are expected to dip to about 1.75 Million
barrels per day in July.
SHORT TERM TREND ; BULLISH : TARGET RS 5720
LONG TERM TREND ; BULLISH ; TARGET RS 5890
S1 RS 5567, S2 RS 5530. S3 RS 5475
R1 RS 5648,R2 RS 5682, R3 RS 5720
MARKET IS EXPECTED TO MOVE SIDEWAYS TO HIGHER.
Crude oil bounces off an earlier low just below $ 126 after being pressured
by a stronger Dollar and concerns that high prices are curbing demand.
The bounce was more technical with the sell off a bit too sharp and once
again the buyers have stepped in to buy on dips.
Crude was pressured early by the Dollars strength as it extended gains
after a report showed new orders for US Durable goods for April
fell less than expected.
Nigerian crude oil exports are expected to dip to about 1.75 Million
barrels per day in July.
Wednesday, May 28, 2008
UPDATES
MAY 28 WEDNESDAY
SHORT TERM TREND BEARISH TARGET RS 5470
LONG TERM TREND BULLISH TARGET RS 5890
Prefer shorts at Rs 5580 to 5585
Stop loss Rs 5630
Target Rs 5500
Crude prices fell below $ 130
Crude oil traded over a week low after plunging yesterday on speculation
record fuel prices will reduce demand at the height of the US driving season.
Oil prices which rose above $ 135 a barrel last week was bad news for both
producers and cinsumers.
SHORT TERM TREND BEARISH TARGET RS 5470
LONG TERM TREND BULLISH TARGET RS 5890
Prefer shorts at Rs 5580 to 5585
Stop loss Rs 5630
Target Rs 5500
Crude prices fell below $ 130
Crude oil traded over a week low after plunging yesterday on speculation
record fuel prices will reduce demand at the height of the US driving season.
Oil prices which rose above $ 135 a barrel last week was bad news for both
producers and cinsumers.
Tuesday, May 27, 2008
UPDATES
MAY 27 TUESDAY
Crude broke below the psycologigal barrier of $ 130 .
If sustains below this level could test $ 126.
TRADING CALL
SELL CRUDE OIL MCX JUNE RS 5565 STOP LOSS RS 5595
TARGET RS 5500
-- Crude oil fell more than $1 a barrel in New York on signs
that U.S. fuel consumption is dropping because of a
slowing economy and record energy prices.
Crude oil for July delivery fell $1.87, or 1.4 percent, to
$130.32 a barrel at 10:40 a.m. on the New York Mercantile
Exchange. Futures reached $135.09 on May 22, the highest
since trading began in 1983. Prices have doubled over the
past year
Crude broke below the psycologigal barrier of $ 130 .
If sustains below this level could test $ 126.
TRADING CALL
SELL CRUDE OIL MCX JUNE RS 5565 STOP LOSS RS 5595
TARGET RS 5500
-- Crude oil fell more than $1 a barrel in New York on signs
that U.S. fuel consumption is dropping because of a
slowing economy and record energy prices.
Crude oil for July delivery fell $1.87, or 1.4 percent, to
$130.32 a barrel at 10:40 a.m. on the New York Mercantile
Exchange. Futures reached $135.09 on May 22, the highest
since trading began in 1983. Prices have doubled over the
past year
Friday, May 23, 2008
UPDATES
MAY 23 FRIDAY
SHORT TERM TREND : SIDEWAYS : TARGET RS 5560
TO RS 5730
LONG TERN TREND : BULLISH ; TARGET RS 5890
Market is expected to move sideways.
Crude oil Futures fell from a record low of $ 135 on Thursday to mark their first loss
in a week as traders book profit from a 4 session winning streak that lifted prices
of the commodity by more than 7 %.Crude oil closed at $ 130.8 after rising to
a high of $ 135.10. The IEA is getting ready to issue a sharp downward revision
to its oil supply forecast according to a published report.
SHORT TERM TREND : SIDEWAYS : TARGET RS 5560
TO RS 5730
LONG TERN TREND : BULLISH ; TARGET RS 5890
Market is expected to move sideways.
Crude oil Futures fell from a record low of $ 135 on Thursday to mark their first loss
in a week as traders book profit from a 4 session winning streak that lifted prices
of the commodity by more than 7 %.Crude oil closed at $ 130.8 after rising to
a high of $ 135.10. The IEA is getting ready to issue a sharp downward revision
to its oil supply forecast according to a published report.
Wednesday, May 21, 2008
UPDATES
MAY 21 WEDNESDAY INDIAN TIME 8.03
US Energy Dept : crude oil inventories data :
5.4 Mbrl Deficit as against an anticipated surplus of .62 Mbrl
Crude oil may test Resistence: RS 5578
US Energy Dept : crude oil inventories data :
5.4 Mbrl Deficit as against an anticipated surplus of .62 Mbrl
Crude oil may test Resistence: RS 5578
LATEST UPDATES
MAY 21 WEDNESDAY INDIAN STANDARD TIME 1.25
Nymex crude trading near all time highs.If settled above those
levels may test further Resistence of $ 133.
MCX Crude oil R :5525
INTRADAY TRADING CALL AT INDIAN TIME 1.00 PM
BUY CRUDE OIL MCX JUNE IN THE RANGE OF RS 5490 TO
5495
T1 RS 5535
STOP LOSS RS 5465
Nymex crude trading near all time highs.If settled above those
levels may test further Resistence of $ 133.
MCX Crude oil R :5525
INTRADAY TRADING CALL AT INDIAN TIME 1.00 PM
BUY CRUDE OIL MCX JUNE IN THE RANGE OF RS 5490 TO
5495
T1 RS 5535
STOP LOSS RS 5465
UPDATES FOR 21 MAY
MAY 21 ST WEDNESDAY
SHORT TERM TREND BULLISH TARGET RS 5560
LONG TERM TREND BULLISH TARGET RS 5785
S1 RS 5425, S2 RS 5325 , S3 RS 5300
R1 RS 5550 , R2 RS 5575 . R3 RS 5675
CRUDE OIL Futures for june delivery closed firm above
$ 129 per Barrel after rising to a record high of $ 129.60
SHORT TERM TREND BULLISH TARGET RS 5560
LONG TERM TREND BULLISH TARGET RS 5785
S1 RS 5425, S2 RS 5325 , S3 RS 5300
R1 RS 5550 , R2 RS 5575 . R3 RS 5675
CRUDE OIL Futures for june delivery closed firm above
$ 129 per Barrel after rising to a record high of $ 129.60
Tuesday, May 20, 2008
NYMEX CRUDE UPDATES
SHORT TERM TREND : SIDEWAYS : TARGET Rs 5285 TO Rs5355
LONG TERM TREND : BULLISH : TARGET Rs 5355
OUTLOOK RECOMMENDATION
Market is expected to move sideways.
US crude oil futures fell on Tuesday, slipping ahead of inventory data due Wednesday which was expected to show supplies rose last week and after futures were lifted on Monday by Venezuela's supply threat, cold weather and refinery snags
But futures bounced off earlier lows just after the floor session opened on news that Venezuela's Energy Minister was quoted in a newspaper saying "we are ready" to cut oil supplies if pressures continue
LONG TERM TREND : BULLISH : TARGET Rs 5355
OUTLOOK RECOMMENDATION
Market is expected to move sideways.
US crude oil futures fell on Tuesday, slipping ahead of inventory data due Wednesday which was expected to show supplies rose last week and after futures were lifted on Monday by Venezuela's supply threat, cold weather and refinery snags
But futures bounced off earlier lows just after the floor session opened on news that Venezuela's Energy Minister was quoted in a newspaper saying "we are ready" to cut oil supplies if pressures continue
MARKET AWAITING WEEKLY INVENTORY DATA DUE TO BE RELEASED ON WEDNESDAY 21 ST MAY.
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