MCX Natural Gas has formed a bullish head and shoulders
pattern and the breakout of the same will be confirmed above 219
levels, hence, the positional traders can initiate longs above 219 for
the upside targets of 232 and 242 on immediate basis. However, till it
doesn’t surpass the swing high of 219 there is a probability that it
retraces some of it gains and falls back to 208 to 195 levels. Hence,
one needs to be cautious right now on long side. Any fresh positions on
long side from hereon should be above Rs 219 levels only.
No comments:
Post a Comment