Natural gas yesterday traded with the positive node and settled 0.5% up at 198.8 markets is trading in the range 192-200 as the number of rigs drilling for natural gas in the US slid by 12 this week to 919, its fourth straight weekly decline. Government data this week showed gross domestic gas production slipped in October, its first decline in four months and possible sign producers are shifting focus away from gas due to low prices. Rising output from shale gas has been the primary driver of increased gas production in the last few years, Despite a fairly cold winter so far, gas inventories are still about 8 percent above average and offer a comfortable cushion to help meet heating demand. For today's session market is looking to take support at 197.9, a break below could see a test of 197 and where as resistance is now likely to be seen at 199.3, a move above could see prices testing 199.8.

Trading Ideas:

Natural Gas trading range is 197-199.8.

Nat. Gas jumped as a government report showed production in lower-48 states fell for the first time.

Natural gas looks to test support at 189.8 and resistance is seen at 201.80.

Lower production is giving the market a boost and yesterday closed almost up by 5%.

BUY NAT.GAS JAN @ 194-195 SL 192 TGT 198.50-200-202.60.MCX

NATURAL GAS  $ IS TRADING AT :  NATURAL GAS  $ IS TRADING AT : 4.525$