Natural gas ended down on Saturday on profit booking after rising more than 4% on Friday. Gas traders were likely to buy back previously sold contracts, an activity known as short covering, to take advantage of relatively low prices after declines earlier in the week. Natural Gas yesterday we have seen that market has moved 4.84%.

Market has opened at 206.5 & made a low of 206.5 versus the day high of 217.9. The total volume for the day was at 36360 lots and the open interest was at 11782. Now support for the Natural Gas is seen at 209.40 and below could see a test of 202.20. Resistance is now likely to be seen at 220.80, a move above could see prices testing 225.00.

Trading Ideas:

NATURAL GAS TRADING RANGE IS 200-230.

NATURAL GAS ENDED DOWN ON SATURDAY ON PROFIT BOOKING

BUY NAT.GAS DEC @ 216-217 SL 212.6 TGT 219.20-222-225.80. MCX

NOW RES IS AT 219.20 ABV THIS A RALLY TILL 222-225 CAN BE SEEN.

SUPPORT FOR THE NATURAL GAS IS AT 212.60