Nickel and Zinc (among other metals) moved quite well and I presume those of you who traded could get good benefit...
I thought of re-visiting 'Nat Gas' where it seems that the 'bottoming out' process is still on... I expected it to complete the bottoming formation last month. But 'technically' speaking the more time a security takes to bottom out , the more fierce should be the subsequent action... Copper and Nickel are recent examples - as both went up 50% in less than 2 months.
I Presume price fall in Nat Gas can be used to add positions and a break out of the Rs 205 level should give us the needed signal of the completion of bottoming out.
Even the long term RSI which I use, is suggesting an impending change in trend.
Positional Traders ... be ready for action ....
Happy trading!
CA Rajiv D Khatlawala
Head of Research & Training
JHAVERI Securities Ltd.
1 comment:
Rajeev, instead of the upmove, we saw a considerable decline in Natural Gas...what is your take on it now and should we accumulate more at these prices??
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