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Sell Naturalgas Below 215 SL Above 220 TGT 209/205 - Axis Securities
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Naturalgas
MCX Naturalgas opened sharply lower with a downward gap and traded with extreme volatility throughout the session to close on a negative note. The daily strength indicator RSI is moving downwards and is quoting below its reference line indicating negative bias. Naturalgas continues to remain in a dowmntrend in the short to medium term, so selling on rallies continues strategy.
SELL NATURALGAS BELOW 215 SL ABOVE 220 TGT 209/205
Zinc
MCX Zinc opened on a flat note and buying momentum throughout the session. The chart pattern suggests that if Zinc crosses and sustains above 216 level it would witness buying which would push the price towards 218-220 levels.Important support for the day is around 213.
BUY ZINC ABOVE 216 SL BELOW 214.50 TGT 218/220
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