Daily trading bites: Buy MCX Crude Oil around 3408 | Buy MCX Copper| Buy NCDEX Guar Gum | Buy NCDEX Mentha Oil | Indianotes.com




MCX CRUDE OIL NOVERMBER

On Thursday, crude oil prices reverted back after testing the trend line channel support of 3376 and ended almost near the day’s high of 3428. Ahead, the prices are likely extended further till the channel resistance of 3478 then 3520 levels. Therefore, we advise buying on dips around 3408 for given targets 3478 then 3500.

MCX COPPER NOVEMBER

As expected copper prices slowly inched higher from the support and ended at 456.80 forming doji candlestick formation. Prices recovering from the supports and forming positive candle stick pattern is indicating bullish strength. So, we continue to recommend buying around 456 levels for upside targets of 462 then 645 levels.

NCDEX GUAR GUM NOVEMBER

Guar gum November contract prices took the support of the trend line around 7925 levels and inched higher till 8055 and settled at 8033. Prices are reverting back from the supports and this could take the prices till the immediate resistance of 8370 level. Therefore, traders are recommended to buy on dips around 8000 levels with stop loss at 7800 for above mentioned targets.

NCDEX MENTHA OIL NOVEMBER

On Thursday, Mentha oil November contract prices gave a bullish breakout of double top resistance and surge till 1294 mark. Prices have strongly settled above the resistance. Ahead, prices are likely to propel till the next resistance of 1330 and higher. Thus, we recommend buying on minor corrections around 1286 for targets of 1310 then 1330.

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