Wednesday, January 12, 2011

MCX Natural Gas Likely to Trade on Higher levels



MCX Natural Gas Jan contract yesterday traded with the positive but it has made a low of 197 and finally settled at 202.4 up by 2.90 rupees on Tuesday as buying seen in it


For today's MCX Natural Gas Jan contract is looking to take support at 200.8, a break below could see a test of 198.5 and where as resistance is now likely to be seen at 206.7, a move above could see prices testing 210.10.


Technically,Intraday Traders can buy MCX Natural Gas Jan contract near 201 with the stop loss of 198.5 and can wait for the targets of 206 and 210.1 while positional traders can buy MCX Natural Gas Jan contract near 202 with the stop loss of 198 and can wait for the targets of 210 and 219

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Posted By Commodity MCX Tips