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One could sell MCX Crude Jan Futures at Rs 2726 per barrel, says Gnanasekar.
Crude prices rallied on a surprisingly large drawdown in US crude inventories but forecasts of continuing mild winter took some of the sting out of the numbers.
Crude prices continue to trade below USD 61 as mild weather reduced US heating-fuel consumption.
Crude prices, dropped below the USD 61 mark on signs of lower-than-usual heating demand. This is due to forecast of relatively warm weather in the US, one of the biggest heating oil consumers.
One could sell MCX Crude January Futures at Rs 2,694 per barrel, says Narne.
Crude prices continued to trade around the USD 62.50 mark.
Suresh Nair, MAPE ADMISI: I am bullish on gold and crude. For gold, buy MCX February Futures at Rs 9,120 per 10 gram, with target Rs 9,208 per 10 gram. For crude, buy MCX January Futures at Rs 2
Crude prices fell below the USD 63 mark as mild weather in most of the US signaled decreased demand for heating oil.
Crude continued trading above the USD 63 mark on signs that shipping delays and OPEC output cuts may erode US inventories.
Chinese PCI market is forecast to grow as demand increases
Crude oil prices rose to the USD 63.50 mark on speculation that a US government report later today will show the nation's inventories declining for a fourth week as refiners increased fuel output.
Crude prices slid more than a dollar as moderate weather in most parts of the US and Europe curbed heating fuel consumption. Concerns that the economy is slowing also eased some supply concerns.
Suresh Nair, MAPE ADMISI: I am bearish on gold and crude today. For gold, sell MCX February Futures at Rs 9,060 per 10 gram, with a target of Rs 8,969 per 10 gram. In the case of crude, sell MCX
Cairn India is a crude oil and natural gas exploration and production company. Cairn India's IPO closed on Friday, but the subscription figures were nowhere close to what the market was expecting
Oil and Natural Gas Corporation (ONGC) which is engaged mainly in exploration, development and production of crude oil and natural gas, has discovered gas.
After receiving weak response from investors, Cairn India, a crude oil and natural gas exploration and production company, has fixed its issue price at lower end of price band.
Crude oil prices continued to trade above the USD 63 mark on OPEC's decision to cut output from February next year.
Cairn India, a crude oil and natural gas exploration and production company, has received modest response from investors. The issue has been oversubscribed 1.14 times.
, IDBI: The rupee is expected to be soft due to overseas dollar strength and higher crude oil prices. However, capital inflows will temper the fall. The range for the day is seen within Rs 44.63-44.75.
Crude prices rose after OPEC agreed to reduce output to bolster prices. The OPEC President, Edmund Daukoru said the group will curb production by 500,000 barrels a day, or 1.7%, beginning February 1.
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