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SMC recommend to buy Natural Gas above 203 placing stop-loss at 195 - IndiaNotes.com
SMC recommend to buy Natural Gas above 203 placing stop-loss at 195
SMC | Published: 30 Sep, 2016  | Source : IndiaNotes.com

Fundamental:

  • Current  weather  reports  are  calling  for  more heat  and  higher  demand  for  gas-fired  power  throughout  the  end  of September.

  • Hot  temperatures  throughout  the  summer  had  helped  draw  down  supply  that  had  been  at  record  levels.

  • Low  natural  gas  demand  in  the  northern  U.S.  and  moderate  to  high  demand  over  the  southern  U.S.

  • Weather  reports  suggested  more  heat  and  high  demand  for  gas-fired  power  throughout  the  end  of  September.

  • Total  U.S.  natural  gas  in  storage  currently  stands  at  3.551  trillion  cubic  feet,  according  to  the  U.S.  Energy  Information Administration.

  • Demand  for  natural gas  tends  to  rise  in  the  summer  months as  warmer temperatures  increase  the  need  for  gas-fired electricity  to  power  air conditioning.

  • Autumn  having  started  on  September  22,  power  burns  to  feed  air  conditioning  demand  have  probably  peaked  for  now.


Where To Act  :

  • Level:  Support 1 - 195  Support 2 - 180 ; Resistance 1 - 202.50, Resistance 2 - 215

  • Our  preference: Buy  Above  203  Target - 214  S/L - 195

  • Alternative  scenario: Sell below 194.30 T argets - 181  S/L - 201

  • Trend: Below 195 Trend Down for the Target of 180

 

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About SMC
SMC Research, founded in 1990, is India’s leading share and stock broker, provides a wide range of financial services and investment solutions. A blend of extensive experience, diverse talent and client focus has made us the 4th largest broking house in India(Source: Dun and Bradstreet, 2008). Over the years, SMC has expanded its operations domestically as well as internationally. Existing network includes regional offices at Mumbai, Kolkata, Chennai, Cochin, Ahmedabad, Jaipur, Hyderabad, Bangalore plus a growing network of 2100+ offices spread across 425 cities/towns in India.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.