Natural gas ended positive on some short covering Saturday after prices fall Friday pressured by profit-taking and a glut of supply after Thursday's rally. Ample supplies also continued to weigh on gas prices on Friday. But forecasts of warm weather in the major gas-consuming regions provided a floor for prices. Natural Gas yesterday we have seen that market has moved 0.39%. Market has opened at 232 & made a low of 231.4 versus the day high of 232.5. The total volume for the day was at 464 lots and the open interest was at 5757.Now support for the Natural Gas is seen at 231.6 and below could see a test of 231. Resistance is now likely to be seen at 232.7, a move above could see prices testing 233.2.

Trading Ideas:

Natural Gas trading range is 231-233.2.

Natural gas finished higher on some short covering Saturday

Natural gas is taking support at 230.80 below this looks till 228-226 level

Ample supplies also put pressure on gas prices

BUY NAT.GAS JUNE @ 228 SL 225.60 TGT 230.20-232.80-234.50.MCX