Energy Market Outlook and Sector Updates: Nirmal Bang

Natural GasCrude oil: The counter is trading at crucial levels as prices are taking support at very crucial levels at 3526. Breaching which prices may take support at the 3490 levels. However the uptrend in the counter is intact above 3400 levels. Thus one can remain long at dips above 3400.

Natural Gas: The counter is seen maintain at the lower levels around 155. The oversold RSI is seen moving to 30 levels. This suggest that prices may see a pullback till 176-180 levels in near terms, provided prices maintain above the low of 155.