Natural gas ended steady after rising more than 3 % on Friday driven by bargain-buying and rising U. S. industrial production. Natural gas traders were taking advantage of relatively low prices to purchase contracts after Thursday's decline. Total gas in U. S. storage of Jan. 8 was 2.852 trillion cubic feet, about 4.4% above the five-year average and 3.7% above last year's level.

Natural Gas yesterday we have seen that market has moved -0.23%. Market has opened at 260.9 & made a low of 260.8 versus the day high of 261.6. The total volume for the day was at 632 lots and the open interest was at 8596. Now support for the Natural Gas is seen at 260.80 and below could see a test of 260.40. Resistance is now likely to be seen at 261.60, a move above could see prices testing 262.00.

Trading Ideas:

Natural gas trading range is 245-275.

Natural gas ended steady after rising more than 3 % on Friday driven by bargain-buying

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

Natural gas traders were taking advantage of relatively low.

SELL NAT GAS JAN BELOW 260 SL 264.80 TGT 258.20-255.60-254. MCX