Natural Gas prices have risen back very well last week snapping its two-week fall. The Natural Gas Futures contract traded on the Multi Commodity Exchange (MCX) made a low of ₹286.20 per mmBtu and has surged about 8 per cent from there. The contract is currently trading at ₹309 per mmBtu.
Outlook
The bounce last week that has happened from around ₹286 is very significant. It has happened from an important trendline support. That keeps intact the short-term uptrend that has been in place since late April. The rise also marks the beginning of a new leg of upmove within this trend.
Supports are at ₹302 and ₹299. Immediate resistance is at ₹314. We see high chances for the contract to break this resistance. Such a break can take the MCX Natural Gas Futures contract up to ₹328 initially. A further break above ₹328 will then see an extended rise to ₹340.
Failure to breach ₹328 in the first attempt can trigger a corrective dip to ₹315-₹313. Thereafter a fresh leg of upmove can target ₹340 on the upside.
A strong break below ₹299 is needed to turn the near-term outlook negative. Only then the downside will be open for a fall to ₹288-₹286. But such a fall looks less likely.
Trade Strategy
Traders can go long on dips at ₹306 and ₹302. Keep the stop-loss at ₹294. Trail the stop-loss up to ₹309 as soon as the contract goes up to ₹312. Revise the stop-loss higher to ₹316 and ₹321 when the price touches ₹319 and ₹324 respectively. Exit the long positions at ₹326.
Published on June 22, 2026
