2025-04-30 20:39:21
Latest Post
Monarch Networth Capital IFSC Pvt. Ltd. receives Registered Fund Management Entity (Retail) License from IFSCA, GIFT City
Lucent Industries Ltd enters into partnership agreement with Clusterdev Technologies Pvt Ltd
South Indian Bank hosts Season 1 of National Co-lending Summit - SEED
Inox Green signs agreement for O&M of 675 MWp of solar projects
Union Bank of India Launches MSME & CASA Outreach Programs to pass on benefits of back to back RBI-MPC rate cuts and Deepen Customer Engagement
Commodities
Crude Oil - May 17, 2021 - Reliance Securities
Posted On : 2021-05-17 18:14:44( TIMEZONE : IST )
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International oil prices are trading marginally in the red on Monday early afternoon trade in Asia amid easing supply worries and surging covid-19 cases in Asia could dent demand for the fuel.
In other news, China's crude oil throughput rose 7.5% in April from the same month a year ago but remained off the peak seen in the last quarter of 2020.
Technically, WTI Crude Oil could see a bullish momentum up to $65.88-$66.10 levels. Support is at $65.30-$65.07 levels.
Domestic oil prices tracked overseas and are trading flat to weaker on Monday early afternoon trade.
Technically, MCX Crude Oil May could trade on a positive note where resistance is at 4800-4815 levels. Support is at 4750-4711 levels.
Strategy for Crude Oil May for the rest of the session is buying on dips near 4760-4770 with a stoploss at 4725 and a target at 4860.
Disclaimer: The recommendations, if any, made herein are expression of views and/or opinions and should not be deemed or construed to be neither advice for the purpose of purchase or sale of any security, derivatives or any other security through RSL nor any solicitation or offering of any investment /trading opportunity on behalf of the issuer(s) of the respective security(ies) referred to herein. These information / opinions / views are not meant to serve as a professional investment guide for the readers. No action is solicited based upon the information provided herein. Recipients should rely on information/data arising out of their own investigations. Readers are advised to seek independent professional advice and arrive at an informed trading/investment decision before executing any trades or making any investments. While due care has been taken to ensure that the disclosures and opinions given are fair and reasonable, none of the directors, employees, affiliates or representatives of RSL shall be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way whatsoever from the information / opinions / views contained herein.
