Natural Gas Ends Flat, Strong Support At 261-260 Levels

Published 01/07/2014, 05:11 AM
Natural Gas
Natural Gas futures ended almost flat in a volatile week on MCX as short covering rally towards the end of the week supported the counter on the downside. The counter witnessed strong supports at around Rs. 261-260 levels on MCX as it showed rebound twice during the last 15 trading ses-sions on MCX. However going ahead, with RSI showing mild strength, a rally in the counter could be seen only if it manages to close above Rs. 279.30 on MCX, where next resistance for the counter could be seen at Rs. 284-285 levels. On the downside strong supports for the counter exists at Rs. 260.50 – 257.80 on MCX.

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