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Wednesday, 26 April 2017

Latest Commodity Updates - Expert View

Equity benchmarks extended gains in noon trade, with the Sensex rising more than 200 points intraday, driven by banks, FMCG, metals and auto stocks. The BSE Sensex trading up 160 points at 30,108 and the NSE Nifty hiked 45 points to 9,352.60 but the market breadth turned in favour of declines.

In Commodity market, Gold declined 114 points to 28,700 while Silver lost 152 points to 40,264 whereas Crude oil prices to trade range bound for the day as data showed a rise in U.S. crude inventories and record supplies in the rest of the world cast doubt on OPEC's ability to cut supplies and tighten the market.

ITC, HDFC, HDFC Bank, Tata Motors and ICICI Bank continued to be leading contributors to Sensex' gains, up 0.6-2 percent whereas Infosys (down 1.5 percent) and Reliance Industries (down 0.6 percent) limited upside. 

Commodity Tips By Expert
Sell Silver may in the range of 40300 – 40250 Targets 40000/39600 Stop loss 40700. 

Expert View: Technically silver is selling on hourly/daily charts while MACD and RSI also indicate good selling opportunity in it. So, traders should go for sell on higher level strategy. 

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