Commodity outlook by Tradebulls Securities: Buy Crude oil, Nickel

Commodity outlook and stock recommendation by Bhavik Patel - Sr. Technical Analyst (Commodities), Tradebulls Securities

Rupee: The Indian currency had been in downward trajectory since the Finance Minister, Nirmala Sitharaman, announced a corporation tax rate cut bringing us at par with other Asian countries. This will bring foreign investment and so our currency got appreciated. Now Indian rupee has bottomed out around Rs 71/ US dollar and not sustaining below 70.80 inspite of strong equity market.

Partly, the reason might be a jump in the Indian bond yields which is capping Indian rupee’s gain. Previously also we have seen that whenever a currency closes below 50 day moving average, we see more than 1