Buy Natural gas Above 541 SL Below 527 TGT 560/565 - Axis Securities
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CRUDE OIL
MCX Crudeoil opened with an upward gap and remained lackluster within a narrow trading range throughout the day. The daily strength indicator RSI has turned positive from the oversold territory and is above its reference line indicating positive bias. Crudeoil continues to remain in an uptrend for the short term, so buying on dips continues to be our preferred stratoon.
BUY CRUDEOIL ABOVE 8900 SL BELOW 8750 TGT 9080/9150
NATURAL GAS
MCX Naturalgas opened with a downward gap and traded with extreme Volatility on either side and gained bullish momentum. The chart pattern suggests that if Naturalgas crosses and sustains above 541 level it would witness buying which would push It towards 560-565 levels. Important support for the day is around 527.
BUY NATURALGAS ABOVE 541 SL BELOW 527 TGT 560/565
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