Crude
oil has to suffer sharp decline today. MCX Crude oil prices have
slumped down to 4600 level after declining nearly 2%. The effect
of the decline in the international market has had on the domestic
market also. Weaker global cues stimulated the selling sentiments in
MCX and crude slipped down again.
MCX
copper has also witnessed sharp fall. It has fallen more than 1.40%
and copper June futures is currently trading at 405.
For
near term trade, buy on lower level strategy is suggested to the
traders as near term trend of crude and copper is still positive.
