Buy Naturalgas Above 228 SL Below 223 TGT 234/ 238 - Axis Securities
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Natural gas
MCX Naturalgas opened on a flat note and remained in a consolidation range throughout the day. The daily strength indicator RSI is moving upwards and is above its reference line indicating positive bias. Naturalgas continues to remain in an uptrend for the short term,so buying on dips continues to be our preferred strategy.
BUY NATURALGAS ABOVE 228 SL BELOW 223 TGT 234/ 238
Crude oil
MCX Crudeoil opned with an upward gap and remained in positive terrain throughout the day. The chart pattern suggests that if Crudeoil crosses and sustains above 6320 level it would witness buying which would push the price towards 6430-6500 levels. Important support for the day is around 6200.
BUY CRUDEOIL ABOVE 6320 SL BELOW 6250 TGT 6430/6500
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