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Tuesday, 2 May 2017

Commodity Intraday Call For Today: 2nd May

Equity Benchmark indices extended their losses during the session, after staging a 150-point gain in the morning, with the Nifty hovering around 9300-mark. The Sensex trading down 67.02 points at 29851.38, while the Nifty slipped 18.20 points at 9285.85. The market breadth was negative as 1,146 shares advanced against a decline of 1,436 shares, while 133 shares were unchanged.The Mid cap index was trading almost flat with a positive bias, but the Bank Nifty was trading nearly one third percent lower. 

In Commodity Market, Gold declined 12 points to 28,641 while Silver gained 195 points at 38,880. Crude Oil prices rose on Friday but were still on track for a second straight weekly loss on concerns that an OPEC-led production cut has failed to significantly tighten an over supplied market. Such a deal would likely mean an extension of a pledge by the Organization of the Petroleum Exporting Countries (OPEC).

Commodity Tips By Expert
Sell Crude Oil May in the range of 3125-3120 Targets 3070/3020 Stop loss 3175 . 

Expert View: Technically crude oil 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.