After a good build-up of yesterday MCX crude is now looking solid today also, reason may be the oil ministry has approved sale of a 10 percent stake in state-run explorer Oil India. But New York oil prices fell today after hitting fresh five-month high levels following a deal that reverses the build-up of crude stockpiles in the United States. According to our report Crude has sufficient reason to go downside today.
According to our research report Support for MCX Crude Dec. contract is seen at Rs.4945 while Resistance is seen at Rs.5125.
