Commodities Special Technical Report

Monday | April 22 2013

Content
Special Technical Report on Natural Gas Strategy/Recommendations

Prepared by:

Pasam Samson Sr. Technical Analyst samsonp@angelbroking.com (040) 30932632

Angel Commodities Broking Pvt. Ltd. Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093. Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 2921 2000 MCX Member ID: 12685 / FMC Regn No: MCX / TCM / CORP / 0037 NCDEX : Member ID 00220 / FMC Regn No: NCDEX / TCM / CORP / 0302

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Commodities Special Technical Report

Monday | April 22 2013

MCX Natural Gas May (CMP 236)

MCX Natural Gas prices after making a record low of 99.50 levels in the month of April 2012 has moved sharply higher almost very near towards the trend line in the month of November 2011. Later prices corrected towards 169.30 levels in the month of february 2013 which is exactly the main support trend line and bounced back sharply higher even breaking the Trend line Resistance at 227 levels and closed higher. Hence as per the Trend line breakout pattern we expect Natural gas prices now to find very good support in the range of 227-223 levels and then move sharply higher initially towards the minor resistaance at 265 levels and then finally towards the expected target at 287 levels. Strong Support is now seen at 213-214 levels. Multiple closing below 213 levels would trigger a sharp correction initially towards 197 levels and then finally towards the lower main support trend line at 183 levels. Hence as per the above Trend Line Breakout pattern, we suggest to Buy Natural gas prices in dips at 227-224 levels and hold for the initial target of 255 levels and exit longs if prices trade below 213 levels. Trading levels: (CMP-236) S1-227 S2-214 R1-265 R2-287

Recommended Strategy : (5 - 7 Days) Buy MCX Natural Gas May between 224 to 227, Stoploss - 213, Target1 - 248 & Target 2 255.

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