Insignia Consultants
New Delhi
Friday, 22 November 2019
TIME
10:09 AM IST
----------------------------------------------------------------------------------------------------------------
MCX NATURAL
GAS REPORT
Current
price Rs.190.10 (MCX Natural Gas December)
Bearish
case: Short term bearish
trend will be there only if NG does not break and trade over 207 in the next
three weeks. Till Monday, NG will crash only if it trades below 186. Bullish case: NG can rise to 197 and 205.90 as long as it trades over 185-186 zone. Key long term support is at 175.70. With every big fall, the risk to return ration is in favor of the buyer.
OurView/Trading strategy: There is a negative spread between December and January of Rs.2.50. This is not a very bullish signal for the short term. Spreads have to rise to 6.50-10.00 (December-January) for NG to zoom. Winters in Europe and USA will be the key to demand and price. I will prefer to be a day traders or a weekly trader at the moment. However I will use sharp crashes invest in January futures or February futures, whenever it is started.
Disclaimer: Any opinions as to the commentary, market
information, and future direction of prices of specific currencies, metals and
commodities reflect the views of the individual analyst, In no event shall
Insignia Consultants or its employees have any liability for any losses
incurred in connection with any decision made, action or inaction taken by any
party in reliance upon the information provided in this material; or in any
delays, inaccuracies, errors in, or omissions of Information. Nothing in this
article is, or should be construed as, investment advice. All analyses used
herein are subjective opinions of the author and should not be considered as
specific investment advice. Investors/Traders must consider all relevant risk
factors including their own personal financial situation before trading.
Websitewww.insigniaconsultants.in. Prepared by
Chintan Karnani
Disclosure: Members, employees, directors, clients and all other people
associated with “Insignia consultants” do trade in MCX metals and energies.
They may or may not have positions on the trading strategies mentioned in this
report. They may also have open positions in MCX metals and energies futures in
trading strategies other than those mentioned in this report.
Insignia Consultants does not have any branches in India.
Insignia Consultants does not have any marketing agents in any city in
India.
NOTES TO THE ABOVE REPORT
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE
SPECIFIED
PLEASE
NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
PLEASE
USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
THE
TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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