Natural gas finished lower pressured downward by profit-taking despite a hefty draw from inventories and forecasts of frigid weather in the U.S. Midwest and Northeast. EIA data showed natural gas stockpiles fell 153 billion cubic feet in the week ended January 1.The latest draw brings the total amount of gas in storage to 3.123 trillion cubic feet, about 11% above the five-year average and about 10% above last year's level as of Jan. 1. Natural Gas yesterday we have seen that market has moved -3.09%. Market has opened at 275.2 & made a low of 264.3 versus the day high of 279.4. The total volume for the day was at 84504 lots and the open interest was at 7804.Now support for the Natural Gas is seen at 260.50 and below could see a test of 254.80. Resistance is now likely to be seen at 275.60, a move above could see prices testing 285.00.

Trading Ideas:

Natural gas trading range is 255-275.

Natural gas finished lower pressured by profit-taking despite a hefty draw from inventories

Now resistance is at 269.20 above this a rally till 273-275 can be seen.

EIA data showed natural gas stockpiles fell 153 billion cubic feet

SELL NAT.GAS JAN @ 268 SL 272 TGT 265.80-262.50-260-257.50.MCX