Crude Technical Analysis

During the month of June there had been good upward directional move and at the month of June MCX crude price settled at Rs. 5763. Now expectation for the price movement in the coming month of July, we may analyze with the below given MCX crude price chart

MCX crude oil currently at the starting of the month of July trading around Rs. 5950 around five -year high. On weekly chart price range around rs.6180 - 6190 form a short term resistance for crude oil price, if sustain above that range then ready for life time high. Now its all about a matter of entry into the market so in current situation until price go below the level of Rs. 5515 we are not expecting down trend. Range around Rs. 5650 -5700 may be a better level to have entry for buy trend with stop loss Rs. 5500 to the target above 5950. Going price below Rs. 5515 may give you another down range Rs. 5150 - 5250. Its very much evident in the below given MCX crude oil price daily candle chart that for last two -month price has rose continuously


U.S. NYMEX crude oil price have made a home for moving in between of $90-100 since the last week of the April 2013 and presently at the starting of the month of July price are moving in the upper half of this range. Moving range of price has narrowed from $75 -115 to $90-100 since May 2011, actually price taking a form of symmetrical triangle in up move and still available range for moving price inside of this triangle is $80-104 and currently price are forming triangles fourth wave that will complete around $103 -104. Below given U.S. NYMEX daily candle chart showing that every time price have come more up after having a dip in price.

 Expected support and Resistance level (MCX)

Crude (July 2013)	S1	S2	R1	R2
MCX	5647	5299	6358	6630

  Recommendation Based on the charts and explanations our opinion is, selling the crude around 6450 targeting 5700/5440 and stop loss above 6630 might be appropriate.

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Currency Market Outlook - Indian rupee back to 59.41 on Monday!

The Indian rupee fell for the first session in four on Monday on the back of dollar demand from oil importers and caution ahead of a central bank policy review that may give clues about its stance after recent measures to defend the currency. Rupee ends at 59.4150/4250 per dlr vs 59.04/05 on Fri Dealers cite outflows of about $250 mln from ITCR RBI policy on Tuesday will be watched for rupee measures

Today’s Headlines

 1)Yen Climbs a 3rd Day as Stocks Fall on China Data; Rand Weakens

 2)Obama Bonding with summers over Tennis No Ace in Decision at Fed

 3)China’s Slowdown ‘Won’t Derail’ U.S. Recovery, Biden Says

 4)Won Touches Seven-Week High as Exporters Sell Overseas Proceeds

 5)China 3% Growth Risk Seen by Barclays Shows Likonomics Angst

Also find information about stock market, FD Schemes, SENSEX,  INR vs Dollar, Indian Economy, stock brokers, share market, share brokers, equity shares, equity brokers, IPO, Mutual fund, NCD, Bonds and debentures, commodities, fixed income, initial public offering, Fixed Deposit Schemes. Visit: - http://www.rrfinance.com/

Market Outlook - The partially convertible rupee stronger at 59.04/$

The partially convertible rupee stronger at 59.04/05 per dollar compared with its close of 59.11/12 as the central bank's measures to drain liquidity shore up the currency, but gave up most gains as sustained dollar demand from importers to meet month-end import commitments weighed. The benchmark 10-year bond yield 3 basis points (bps) lower at 8.16 percent as the central bank's steps to further tighten cash to curb rupee speculation showed high short term rates were here to stay.

Today’s Headlines

1)      Yen Rises Second Day as Consumer Prices Increase; Won Advances

2)      Treasury Demand Weakens at Note Sales Amid Fed Taper Speculation

3)      Pound Heads for Third Weekly Advance as Growth Outlook Improves

4)      Russia Sees Risks Emerging as Foreigners Amass State Debt

5)      Aussie Headed for Second-Straight Weekly Gain Before Fed Meeting

Please click here for detail analysis report: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf

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Market Wrap-Up: PNB slumps as sticky loans rise

High volatility was witnessed during the last one hour or so of trade, with key benchmark indices slipping into the red once again after moving into positive terrain from negative terrain in mid - afternoon trade. GAIL (India) extended Thursday's post - result losses. FMCG major Hindustan Unilever (HUL) fell on weak Q1 result. The market breadth, indicating the overall health of the market, was weak.
The BSE Sensex closed 56.57 points down at 19748.19 & The CNX nifty closed 21.30 points down at 5886.20.

Who Moved and Why

1) Tata Coffee spurts after robust Q1 outcome Bharat Electronics drops after weak Q1 outcome
2) Metal stocks slide after weak Q1 result from Sterlite Industries
3) Dish TV drops amid volatility after Q1 results
4) HUL drops after declaring poor Q1 results
5) Torrent Power drops to 52 - week low after reverse turn around in Q1
6) Volumes jump at Hathway Cable & Datacom counter
7) Bank of India turns volatile after Q1 earnings
8) HUL extends intraday fall after declaring poor Q1 results

Read detail analysis report here: - http://rrfinance.com/Reserch/Pdf/07-July/DMR/26th_july_equity_closing_update.pdf

Also find information about stock market, INR vs Dollar, Indian Economy, stock brokers, share market, share brokers, equity shares, equity brokers, IPO, Mutual fund, NCD, Bonds and debentures, commodities, fixed income, initial public offering, fixed deposits. Visit: - http://www.rrfinance.com/