Natural gas rose on speculation that hot weather will increase demand for electricity from gas-fired power plants for air conditioning. Purchases of gas by manufacturers, steel mills and chemical plants fell by 7.7 percent in 2009, according to the Energy Department. Total gas consumption will increase by 3 percent to 64.4 billion cubic feet per day this year, the Department said. Natural Gas yesterday we have seen that market has moved 1.75%. Market has opened at 197.6 & made a low of 196.1 versus the day high of 201.6. The total volume for the day was at 16634 lots and the open interest was at 5746.Now support for the Natural Gas is seen at 197.1 and below could see a test of 193.9. Resistance is now likely to be seen at 202.6, a move above could see prices testing 204.9.

Natural Gas trading range is 193.9-204.9.

Natural gas rises on speculation hot weather to boost demand

Now resistance is at 201.80 above this a rally till 203-205 can be seen.

Total gas consumption will increase by 3% to 64.4bcf per day this year

BUY NAT.GAS MAY @ 200.50 SL 198.80 TGT 201.50-203-204.50.MCX