Sell Natural Below 712 SL Above 725 TGT 690/650 By Axis Securities
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Naturalgas
MCX Naturalgas opened sharply lower with a downward gap and extended selling momentum in the first half. The chart pattern suggests that if Naturalgas breaks and sustains below 712 level it would witness selling which would drag the price towards 690-680 levels. Important resistance for the day is placed at 740.
SELL NATURALGAS BELOW 712 SL ABOVE 725 TGT 690/650
Copper
MCX Copper opened with a downward gap and selling pressure throughout the session led it to trade near day's low. The daily strength indicator RSI] is moving downwards and is quoting below its reference line indicating negative bias. Copper continues to remain in a downtrend in the short to medium term, so selling on rallies continues to be our preferred strategy.
SELL COPPER BELOW 637 SL ABOVE 643 TGT 630/625
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