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Buy Natural Gas Jul 2023 @ 208 SL 204 TGT 213-218. NCDEX - Kedia Advisory
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Crude Oil
Observations
Crudeoil trading range for the day is 6130-6360
Crude oil gains as OPEC maintained an upbeat world oil demand outlook
IEA trims 2023 oil demand forecast on economic headwinds
China's June crude imports soar 45.3% on previous year
The premium of a front-month Brent contract to a six-month February 2024 contract rose to $2.64 a barrel.
BUY CRUDEOIL Jul 2023 @ 6180 SL 6080 TGT 6280-6350. MCX
Natural Gas
Observations
Naturalgas trading range for the day is 203.3-223.3
Natural gas slid as maintenance work limits the flowing to LNG export plants.
However, downside seen limited amid daily drop in output and forecasts for hotter-than-normal weather to continue through late July Average gas output in the U.S. Lower 48 states has risen to 102.0 billion cubic feet per day (bcfd) so far in July
Meteorologists forecast the weather in the Lower 48 states would remain hotter than normal through at least July 26.
BUY NAT GAS Jul 2023 @ 208 SL 204 TGT 213-218. NCDEX
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