Buy MCX Crude oil; target Rs 6250: Dani Commodities

Dani Commodities' report on Crude oil

Crude Oil settled at Rs 6251 per barrel, up 0.84%. The prices are shaping on the lower side similar to the open interest that is dipping with every passing session. The decline in open interest is an indicator that the path of Crude will become more skewed between upside and downside. The support for Crude is at Rs 6150, which is also its trend line support, intact from 9 July 2013. MCX CRUDE OIL
International: Major Support for WTI at USD100 Bullish above USD 100
Domestic: Buy at 6210, Stoploss 6180, Target 6250. Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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