Expect profit booking in crude oil: Astromoneyguru

As per Col Ajay Jain, CEO of Astromoneyguru, August 23rd is represented by planet known as Mercury and Year 2012 also represented by Mercury. Today Mercury is in Karak rashi which represents water elements.This combination may lead volatile movement in metal, oil & gas, pharma and telecommunications stocks while sugar stocks still look positive in share market.

It is advised to go for sector and stocks specific trade rather than looking at Nifty levels. Now any time some profit booking is expected in crude oil at higher levels. Therefore crude oil traders need to careful in long positions of crude oil.

Daily Recommendations - Crude oil looks weak in electronic trading

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