In domestic market, MCX Crude Oil is trading at Rs 5,016 per barrel. It is expected a correction in this commodity and hence, we suggest to buy it around Rs 494,950 per barrel. This time around, we may see crude breach Rs 5,000 per barrel levels and reach around Rs 5,200 per barrel levels. He further added that this might take some time, but one should get in at around Rs 4,950 per barrel levels and exit around Rs 5,200 per barrel levels.
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