Natural gas finished higher amid expectations that last week's cold weather will cut deeply into natural gas stockpiles, despite forecasts for warmer weather. The U.S. EIA is expected to report that 255 billion cubic feet of gas were pulled from storage last week as cold weather boosted demand for the fuel to heat homes and businesses. Natural Gas yesterday we have seen that market has moved 2.63%. Market has opened at 256 & made a low of 249.2 versus the day high of 263.5. The total volume for the day was at 50219 lots and the open interest was at 8729.Now support for the Natural Gas is seen at 252.80 and below could see a test of 243.80. Resistance is now likely to be seen at 267.10, a move above could see prices testing 272.40.

Trading Ideas:

Natural gas trading range is 245-275.

Natural gas finished higher on expectations that last week's cold weather will cut deeply

Now resistance is at 264.20 above this a rally till 267-270 can be seen.

Today natural gas storage: Exp: -255B Prev: -153B

BUY NAT GAS JAN @ 258-260 SL 256 TGT 263.50-266.20-269.MCX