Natural gas slipped pressured by expectations of reduced heating demand in the major gas-consuming regions as winter cold subsides. Frigid temperatures have supported gas prices in recent weeks, but supplies remain robust, leaving the market vulnerable to a sell-off as spring approaches. Gas inventories remain abundant despite recent withdrawals from storage to meet heating demand. Natural Gas yesterday we have seen that market has moved -3.51%. Market has opened at 230.5 & made a low of 223.3 versus the day high of 230.5. The total volume for the day was at 16662 lots and the open interest was at 5743.Now support for the Natural Gas is seen at 222.1 and below could see a test of 219.1. Resistance is now likely to be seen at 229.3, a move above could see prices testing 233.5.

Trading Ideas:

Natural Gas trading range is 219.1-233.5.

Natural gas slipped pressured by expectations of reduced heating demand

Now resistance is at 227.40 above this a rally till 230-232 can be seen.

Gas inventories remain abundant despite recent withdrawals from storage

BUY NAT.GAS FEB ABV 226 SL 224 TGT 228-230.20-232.60. MCX