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Natural gas February future has support at 170/166 and resistance at 180.0/184.0 - HDFC Securities
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BULLION
Gold
Trading Strategy:
Gold April future is expected to trade in the range of 61850 to 62550 for the day. Sell Gold Apr Fut at 62300-62325 TGT 62080-61900 SL 62580.
Silver
Trading Strategy
Silver March future has immediate support at 70200; a fall below this level will open a downside towards 69750/69550. It has resistance at 71050/71350. Sell Silver Mar Fut at 70550-70600 TGT 69750/690550 SL 71210.
MCX Crude Oil
Trading Strategy:
The crude oil price rebounded from the day’s low on Monday. We expect the crude oil price to fluctuate in the range of 5920 to 6150 with a positive bias. Buy crude oil Feb at 5985-5994 TGT 6094/6125 SL 5920.
Natural Gas
Trading Strategy:
Natural gas February future has support at 170/166 and resistance at 180.0/184.0. Buy Natural Gas February Future at 169-171 TGT 177/180 SL 166.0.
Copper
Trading Strategy:
Copper extended its loss on Monday; it has immediate support at 712.80 and resistance at 720.10; either side braking out will open a new range for the counter. Sell Copper Feb Fut at 719-720 TGT 715.50/712.0 SL 722.80.
Zinc
Trading Strategy:
Zinc February future declined more than 0.80% on Monday as weak fundamentals. It has support at 216.50/214.80 and resistance at 219.0/222.0..
Please refer disclaimer at https://www.hdfcsec.com/article/disclaimer-1795
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