Markets◆ Mixed
Crude Oil at crossroads as supply recovery meets geopolitical risk in Oct
· Business Standard Mkts
Kaynat Chainwala of Kotak Securities reckons that the MCX Crude Oil is showing a cautious-to-bearish setup on the 4-hour chart after facing resistance near ₹9,280-9,300 levels.
The analysis
This is an Input cost / crude event. India imports most of its crude, so input costs pass through to margins downstream and to the rupee. Producers and consumers of the same input move in opposite directions.