Commodity News

 Crude Oil prices Rallied

 US crude futures rebounded today after the  deal between Saudi Arabia and Russia to freeze oil output at January levels would lead to a wider pact among producers that could eventually see production cuts to support prices. US crude had risen 24 cents to USD29.28 a barrel by 0033 GMT, after ending the previous session down 40 cents.

Top oil producers Russia and Saudi Arabia on Tuesday finally agreed to limit oil production at January levels, and other oil exporters also joined in. Iraq, Qatar and Venezuela said they would freeze output at January levels provided a deal could be agreed, while OPEC member Iran could be offered special terms to freeze oil production levels, sources said.

Oil prices initially increases on Tuesday on news of the deal but early gains were wiped out on the realisation there would be no immediate supply cuts to tackle global oversupply as the changes will be taking place gradually to stablize the situation

Commodity Advice:

SELL:

Crude oil MCX with entry 2020 and Target 1920

Natural Gas MCX with Entry 132 and target 124

Free NCDEX Agri Trading Tips Today

NCDEX Agri Commodities had been trading down specifically Chana and Soyabean. After trading on lower sides the soya oil prices are showing signs of recovery and coming up in today's trading session. On the lower levels it is getting short recovering. Festive season demand for the soya oil has supported the prices today but this support can not sustain for a longtime so it;s better to trade with cautions. 

NCDEX Chana is trading bearish today. Currently it is trading at below 2840 with a marginal fall of 0.5 percent. While October contract of NCDEX Chana is on higher side at 2900. Adequate production and stock of Chana has put the pressure on prices but ahead of festive season the prices are expected to move up.

NCDEX Commodity Free Trading Tips for Today: Sell NCDEX Chana Below 2840 for the Intraday Targets of 2827,2812,2792 ... Keep Stop Loss at 2866.