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DAY TRADING TIPS

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Natural Gas and Crude Oil prices have been quite volatile last week due to the volatility in Rupee. Last week we saw Natural Gas closing lower on MCX at 204.


We saw sellers playing dominant role and overtaking buyer majorly due to moderate temperatures in US.


Looking at weather forecast and production, the weather experts predict milder temperature in US over next few days. Looking at the production in August, we saw demand meeting the supply.


This is the production growth is expected to meet the demand and so we might see Natural Gas Futures following a bearish trend.

For a very long time now, we can see Natural Gas futures to trade from 185-209 on MCX and I suspect this would be range going forward till there is a huge demand in the market.

For Intraday, Natural Gas would move from 202.40-204.80. It would range bound till we could see a trend.

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Initiate a Short position on any rise. Short NG at 204.70 for target of 201-200 in upcoming sessions. The market has been quite slow since traders are investing cautiously looking at global trends


CrudeOil


Crude Oil prices by far have been quite volatile and as expected, with Sanctions imposed on Iran, supply outlook is playing a huge impact on the prices.



The strategy for Crude Oil should be buying on dips. Don’t expect huge profits since the market has been quite since morning but being on buying side would be beneficial.

Initiate Long positions in Crude at 4800 with target of 4860 and SL of 4770.

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