ENERGY Tips

Raw Oil- MCX Raw may observe some profits monitoring hints from worldwide return however benefit is limited. NYMEX crude investments greater backed by profits in value industry and money against the US money after forecasts revealed that pro-austerity actions events will form a government in Portugal. The result of the Ancient elections will ease issues that the country may quit the euro-zone leading to a contagion effect. While industry has responded efficiently to Portugal results, concern lasts about wellness of significant financial systems and this will keep need issues high. Also industry players will stay on side lines ahead of some important events due later this week such as G20 peak and FOMC meet. No significant economic data is due these days and concentrate will mostly be on industry respond to latest development in Portugal and any declaration from G20 members. Assistance for MCX Raw May agreement is seen at Rs.4625 while Level of resistance is seen at Rs.4750.

Natural Gas- MCX Organic gas may observe some profits monitoring hints from worldwide return. NYMEX gas investments greater these days increasing last week’s rise. Assisting gas cost is decreasing development interest in US as is obvious from drop in gas rig depend. The US gas rig depend has decreased to the minimum level since 1999. Also supporting cost is some profits in other energy futures trading like oil. Focus will continue to be on weather related need, weather activity in the Ocean and wellness of US economic climate. Assistance for MCX Organic gas May agreement is seen at Rs.132 while Level of resistance is seen at Rs.144.

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