Natural Gas moves heavenly on lower weekly storage

Published December 21st, 2011 - 02:38 GMT
Al Bawaba
Al Bawaba

India, Dec. 21 -- Ahmedabad : Natural gas opened positive on Iran tensions and on the expectation of the storage falling by more than 100 BCF which is lower than prior week storage. Overall sentiments in Asian stock markets are moving up that may continue the positive tone in the market for the current and coming 2 3 sessions. The major support for today is looking around the level of Rs. 162 which is not expected to get broken additionally short term and long term moving averages in intra day charts are showing the up move to touch the level of Rs. 168 170 within a day or two. After completion of the cycle natural gas may reverse from the level of Rs. 172 and sellers may get active taking an opportunity of the range where it is traveling from past few days says Hardik Jani research analyst with Commodity Online . To get in touch with the Analyst on this report or to get a free trial on trading advisories call 079 40275050 or mail to tips@commodityonline.com Get trading tips on your mobile

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