MCX ENERGIES
REPORT
Natural gas is looking bullish. Crude
oil will break free from 4650-4850 wider trading range and form a new range
anytime soon.
TECHNICAL
VIEW
Crude
oil 20th August 18: (previous day close/CMP Rs.4762.00)
Bullish
over 4760 with 4847 and 4927 as price target.
Bearish
below 4739 with 4688 and 4612 price target.
Neutral
Zone: 4739-4760
One
Support: 4739
One
Resistance: 4847
o
Only a break of 4839 will trigger a rise to 5005.
o
Sellers will be there below 4729.
Natural
gas 28th August 18 (previous day close/CMP Rs.198.90):
Bullish
over 196.10 with 204.30 and 210.30 as price target.
Bearish
below 193.50 with 188.70 as price target.
Neutral
Zone: 193.50-196.10
One
Support: 196.10
One
Resistance: 201.40
o
The next three days till Friday is very crucial for
natural gas. It needs to trade over 195 till Friday to rise to 208-212 zone.
o
Sellers will be there only below 195 today.
NIFTY DAILY TECHNICAL REPORT
Current
Level: 11399.85
Support:
11285.90-11320.60-11355.70
Resistance:
11418.50-11453.90-11488.30-11520.20
· Key resistance is at
11453.90. Only a break of 11453.90 will result in a rise to 11520.20 and 11660.
· Sellers will be there
only on a fall below 11355.70.
· Nifty can move 125
points either side anytime from 11400.
· Better to remain on the
sidelines today.
Sideways
range bound trade with a firm bias can be there today also. Lack of negative
news on economy or from trade war is supporting Indian stock markets.
Uncertainty still prevails in the global financial community over the short
term impact on economy. Trend and
closing of Thursday and Friday is crucial from a technical perspective. If
nifty floats over 11400 till Friday then chances of 11660 and 11800 will be
very high.
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