MCX CRUDE OIL TREND 6th May

The Crudeoil is in long- term bull phase .Currently Crudeoil is in strong uptrend but volume is unsatisfactory The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The oscillator is showing SELL signal For short term Crudeoil is in HOLD SHORT position and closed below 1 month low with volume signals down breakout.

SUPPORT AND RESISTANCE :-

Support for the Crudeoil is 4550-4432

Resistance for the Crudeoil is 4802-4929-4972-4983

SHORT TERM TREND :-

Currently Crudeoil is in HOLD SHORT position Crudeoil is in sell mode sell below 4473.2 buy only above 5097.0 Yesterday the selling was with volume so risk takers can go for shorting at current rate with stop at 5097.0 The oscillator is showing SELL signal

INTRADAY TREND :-

Sell if open below 4473.2 with stop loss at 4681.2 or sell below 4378.5

Buy is not advised till it cross 4776.3 
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FREE INTRADAY STOCK TIPS 6th may

Folllowing are the stock recommendations for today :-

1. BUY ING Vyasa Bank 

    Price :- 321.70

2. BUY Dena bank

    Price :-  96.55

    TGT :- 121

3. BUY Crompton Greave

    Price :- 244.65

    TGT :- 300

NIFTY TREND TODAY 6th May

Markets were choppy for the most part of the day as investors stayed to the sidelines due to lack of direction, but heavy selling during the afternoon trades front liners- ICICI Bank, ITC,  HDFC Bank  and Bharti Airtel dragged the NSE benchmark index S&P CNX Nifty, down -77.30 points or -1.40 % at 5458.40.

NIFTY is near its bottom level in March, i.e.around 5360 and this can be a strong support.

The global markets are in red, but we started to fall early and may stop falling early- 

NIFTY SUPPORT AND RESISTANCE :-

RESISTANCE: It has first resistance close to the level of 5595 & above this level the next resistance is seen near the 5730 mark.

SUPPORT: It has first support close to the level of 5440 & below this level the next support is seen near 5350 mark.

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