MCX Natural gas can slip to Rs 245.40, says Sharekhan

Written By Unknown on Rabu, 22 Januari 2014 | 16.03

Jan 22, 2014, 12.53 PM IST

Sharekhan has come out with its report on Natural gas. "Recently the gas formed a minor degree pullback and has started the next leg down. Natural gas can fall back towards the low of 245.40. The reversal can be trailed to 276.70," says the research firm.

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MCX Natural gas can slip to Rs 245.40, says Sharekhan

Sharekhan has come out with its report on Natural gas. "Recently the gas formed a minor degree pullback and has started the next leg down. Natural gas can fall back towards the low of 245.40. The reversal can be trailed to 276.70," says the research firm.

Like this story, share it with millions of investors on M3

MCX Natural gas can slip to Rs 245.40, says Sharekhan

Sharekhan has come out with its report on Natural gas. "Recently the gas formed a minor degree pullback and has started the next leg down. Natural gas can fall back towards the low of 245.40. The reversal can be trailed to 276.70," says the research firm.

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Natural gas in a bearish mode: Sharekhan

MCX natural gas formed a channelised rally in the last couple of months and achieved the equality target. It reached near the upper end of the medium-term rising channel where it faced selling pressure. The short-term momentum indicators had triggered a bearish crossover. Thus, natural gas has entered a bearish mode. However, the fall is breaking up into lower degree waves. Recently the gas formed a minor degree pullback and has started the next leg down. Natural gas can fall back towards the low of 245.40. The reversal can be trailed to 276.70.

(Prices in Rs.)

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