Natural gas prices have been struggling to rise strongly over the last few weeks. The Natural Gas Futures Contract traded on the Multi Commodity Exchange (MCX) has been oscillating between ₹295 and ₹320 per mmBtu for almost three weeks now. It is currently trading at ₹305 per mmBtu.
Outlook
The immediate outlook is unclear. The daily charts indicate range-bound movement. But the weekly chart shows that the price is struggling to get a sustained rise above ₹315. That keeps the MCX Natural Gas Futures contract vulnerable to break below ₹295 in the coming days. Such a break can drag the contract down to ₹285 or ₹275 thereafter.
A strong rise above ₹320 is needed to ease the downside pressure and avoid the above-mentioned fall. If that happens, ₹328-₹330 can be seen on the upside. An eventual break above ₹330 will then clear the way for a rise to ₹340.
Overall, it is a wait and watch situation for now. A breakout on either side of ₹295-₹320 will determine the next leg of move.
Trade Strategy
Since the immediate direction of move is unclear, traders can stay out of the market for now.
Fresh short positions can be considered on a break below ₹295. Keep the stop-loss at ₹299. Trail the stop-loss down to ₹293 as soon as the contract goes down to ₹290. Revise the stop-loss lower to ₹289 when the price touches ₹287.
Published on July 6, 2026
