Technically market is under fresh buying as market has witnessed gain in open interest by 13.66% to settled at 5541 while prices up 3.6 rupee, Now NaturalGas is getting support at 262.3 and below same could see a test of 257.8 level, and resistance is now likely to be seen at 269.6, a move above could see prices testing 272.4.
Trading Ideas:
--NaturalGas trading range for the day is 257.8-272.4.
--NaturalGas gains as investors closed out bets for mild temperatures and prepped for the arrival of summertime mercury readings in U.S.
--Total U.S. natural gas storage stood at 1.160 trillion cubic feet as of last week, 40% below their level this time last year.
--Producers would need to add 2.6 trillion to 2.9 trillion cubic feet to storage by November 1 to meet typical winter demand.
www.punjiniveshonline.com
Trading Ideas:
--NaturalGas trading range for the day is 257.8-272.4.
--NaturalGas gains as investors closed out bets for mild temperatures and prepped for the arrival of summertime mercury readings in U.S.
--Total U.S. natural gas storage stood at 1.160 trillion cubic feet as of last week, 40% below their level this time last year.
--Producers would need to add 2.6 trillion to 2.9 trillion cubic feet to storage by November 1 to meet typical winter demand.
www.punjiniveshonline.com
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