The commodities and metals on the commodities exchanges are in fact witnessing activity. Aluminium touched a yearly high while copper and zinc are nearing theirs. But one 'commodity' which seems to be 'fascinating' me is NAT GAS. Even the international price charts as also the price movements on MCX seems to be interesting.
Currently it seems that the prices are 'taking rest' in the form of a 'FLAG' and a break out above the flag pattern should provide the next push upward to prices...
It is also changing the overall trend (which was analysed a few days back on this blog).
Buying above Rs 280 should give a targets near to Rs 310 and Rs 330+ .. Keep a stoploss near Rs 262 initially...
Happy trading !
CA Rajiv D Khatlawala
ValueTrade Academy Pvt Ltd.
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