Natural gas December contract closed at 229.10 up by 3.70 rupees. Today support would be at 223 any move below that level would bring 219-218 on cards. Key support would be at 215 and below that 208-201-194 possible. Resistance is now seen near 232-236 any recovery above that level would bring 242-244 and more upside.
Natural Gas trading range for the day is expected among the key support at 210 and resistance at 241.
Â· Today buying natgas around 226-225 with stop loss below 222.60 for targeting 235-245-55 and more upside.
Â· In alternative scenario buying above 241 with stop loss below 237 for targeting 247-253 and more upside might be appropriate.
Â· In alternative scenario selling below 222.60 with stop loss above 225.60 for targeting 219-215 and more down side might be appropriate.
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