Buy Natural Gas Above 530 SL Below 515 TGT 550/560 - Axis Securities
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Natural gas
MCX Naturalgas opened with an upward gap and remained in positive terrain throughout the day. The price is moving in a Higher Top and Higher Bottom formation on the hourly chart indicating sustained up trend. Naturalgas continues to remain in an uptrend for the intraday, so buying on dips continues to be our preferred strategy.
BUY NATURALGAS ABOVE 530 SL BELOW 515 TGT 550/560
Copper
MCX Copper opened with a downward gap and selling pressure throughout the session. The chart pattern suggests that if Copper breaks and sustains below 636 level it would witness selling which would drag It towards 628-622 levels. Important resistance for the day is placed at 645.
SELL COPPER BELOW 636 SL ABOVE 642 TGT 628/622
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