But some commodities saw action in last few days. GOLD was on a roll yesterday as the world financial markets went on a selling spree. Safe Haven eh?
Well but one commodity which should be a low risk trade is NATGAS.
After a spell of falling prices there has been a good consolidation near to Rs.170 levels (on MCX) and we should expect that a break above Rs 194 should open up targets of 209 - 215 in coming days.
Long positions above Rs 194 should have stoploss near to Rs 185. For the time being consider this upmove as a 'corrective' bounce!
Happy trading !
CA Rajiv D Khatlawala
www.investogyan.com
4 comments:
it did breakout above 194 but unfortunately was a false breakout and it crashed hitting lower circuits. Now what?
The sudden move on downside is surely surprising.
Now if people that got stuck in this without the stops, could they place their stops at 170? or should they just get out right away at the CMP of 179?
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