The price of Natural gas witnessed heavy selling pressure during the previous session of trade on the back of strong surge in volumes.
Yesterday’s sell-off has taken the prices of natural gas below its short term moving average clusters placed at the Rs 201.60 levels.
The momentum indicators are of this counter are in sell mode and the price can now decline to its 200 day moving average placed at the Rs 191.50 levels.
Thus traders can look to take short positions between levels of Rs 198—Rs 202.50 levels with a stop loss placed above Rs 204.90 levels for targets of Rs 195 / Rs 191.50 levels.
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