MTECHTIPS MCX NATURALGAS INTRADAY trading analysis 01-02-2016
MTECHTIPS MCX NATURALGAS INTRADAY trading analysis 01-02-2016
Mcx Natural gas has support at 150 and resistance at 157. Close above 157 will take to 163—168 mark. More and more power will see only weekly close above 173 level else it could test its support level of 150 again. Two consecutive closes below 150 will see further downside panic till 143—139 and then to 133 mark. Still looks positive on charts and could test its resistance but chances unlikely to breach its resistance level of 173 in near terms. So traders remain cautious in Natural gas at upper levels and trade with levels only also those are holding long in Natural gas can book part profit and full profit around 163—168 mark also revise stop loss below 150 on closing basis.
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