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Purchase crude oil futures for goal of Rs 7,150: Motilal Oswal’s Amit Sajeja

Amit Sajeja, VP-Technical Analyst-Commodities and Currencies at Motilal Oswal Monetary Providers, suggests going lengthy on the September expiry MCX crude oil futures at Rs 6,700 for a goal of Rs 7,150 with a cease loss at Rs 6,500.

“MCX crude oil futures have shaped a reverse head and shoulders sample on the 240-minute chart, suggesting doable brief overlaying,” he tells CNBCTV18.com.

Sajeja sees potential to check resistance close to Rs 7,150 with help round Rs 6,500 and recommends shopping for on dips.