Natural Gas (MCX-Jan'11): Natural Gas is still in downtrend. Above 206 only, it will attract the buyers else be short on high with SL of 106.50.
This counter shortly down trend in this counter and 208.00 level above buy at only and 208.00 level below shortly down trend in this counter and low side support at 195.00 level and 187.50 level and 208.00 level cross above up side resistance at 215.00 and 227.50 level.
Trend is remain bullish as hold 190 level, higher level resistance 209-210 range and real move only above that level. Buying area around 195-193 range.
On Saturday, the top gainers at MCX were Natural gas for February contract (1.65%), Natural gas for March contract (1.53%), Natural gas for April contract (1.45%), CPO for April contract (0.67%) and Refine soya oil for March contract (0.44%).
Natural Gas future price climbed in the domestic market due to expectation of below than normal weather in US. At MCX, Natural Gas Future for February contract closed at Rs. 202.60 after opening at Rs 200.00 against the previous close price of Rs. 200.10 and Natural gas for March contract closed at Rs 205.60 after opening at Rs 203.60 against the previous close price of Rs. 203.00.
Natural gas Future for February contract is trading at Rs. 202.60 per mmbtu, down by 0.20%, after opening at Rs. 203.50 against the previous close price of Rs. 202.60. (At 11:00 AM today).
Natural gas for February contract is trading at Rs 201.20 against Previous close price of Rs 202.60 (down by 0.69%). (At 4:43 P.M today)
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