Natural Gas prices are attempting to rise back. The Natural Gas Futures contract traded on the Multi Commodity Exchange (MCX) has found support around ₹270 per mmBtu all through last week. The price has risen back from there and is currently trading at ₹285 per mmBtu.
Outlook
The near-term picture is slightly unclear. Resistance is in the ₹290-₹291 region. The contract has to breach this hurdle in order to gain some strength. Only then the upside will open up for a fresh rise to ₹315-₹320 in the coming weeks.
Failure to breach ₹291 and a break below ₹280 can take the contract down to ₹270 again. In this case, the chances will turn high for the contract to break below ₹270, can then drag the MCX Natural Gas Futures contract down to ₹250-₹245.
From a big picture, ₹235-₹330 has been the wider trading range within which the contract has been trading since February. Within that, the MCX Natural Gas Futures contract has been poised around the mid-point of this range. So, there are equal chances to go either way from here.
Overall, it is a wait and watch situation for now.
Trade Strategy
Since the direction of move is not clear, we suggest traders to stay out of the market for now.
Published on November 9, 2026
