Natural gas recovered its losses and finished flat supported by bargain-buying despite mixed weather forecasts and adequate inventories. Forecasts of moderating temperatures over the next three weeks were placing downward pressure on prices. Meanwhile, gas supplies remain abundant despite recent drawdowns from storage during the winter. Natural Gas yesterday we have seen that market has moved 0%. Market has opened at 216.6 & made a low of 214.6 versus the day high of 218.9. The total volume for the day was at 21285 lots and the open interest was at 10290.Now support for the Natural Gas is seen at 214.8 and below could see a test of 212.5. Resistance is now likely to be seen at 219.1, a move above could see prices testing 221.1.

Trading Ideas:

Natural Gas trading range is 212.5-221.1.

Natural gas recovered its losses supported by bargain-buying despite mixed weather forecasts

Now resistance is at 219.80 above this a rally till 222-224 can be seen.

Gas supplies remain abundant despite recent drawdowns from storage during the winter

BUY NAT.GAS MAR ON DIP @ 212-214 SL 209.20 TGT 216.80-219.20-222.MCX