Natural gas ended slightly lower pressured by profit-taking as prices remained within a tight range. Gas traders were offloading contracts to capitalize on higher prices after a government report Thursday showed a more modest build in gas inventories than traders and analysts had expected. Moderate spring temperatures, meanwhile, continue to place downward pressure on gas prices. Natural Gas yesterday we have seen that market has moved -0.05%. Market has opened at 196.6 & made a low of 196.5 versus the day high of 197.2. The total volume for the day was at 339 lots and the open interest was at 6184.Now support for the Natural Gas is seen at 196.5 and below could see a test of 196.2. Resistance is now likely to be seen at 197.2, a move above could see prices testing 197.6.

Trading Ideas:

Natural Gas trading range is 196.2-197.6.

Natural gas ended slightly lower pressured by profit-taking

Now resistance is at 198.40 above this a rally till 200-202 can be seen.

Moderate spring temperatures continue to place downward pressure on gas prices

BUY NAT.GAS @ 192-193 SL 190 TGT 195.50-198-200.50.MCX