Mcx Natural Gas Tips

Natural gas for February contract is trading at Rs 197.60 against Previous close price of Rs 198.70 (down by 0.55%). (At 11:13 A.M today)        

Natural gas for February contract is trading at Rs 199.60 against Previous close price of Rs 201.50 (down by 0.94%). (At 5:08 P.M today)

Natural gas for February contract is trading at Rs 199.40 against Previous close price of Rs 201.50 (down by 1.04%). (At 3:04 P.M today)

After sharp move last week, it was subdued later part of the week and closed below major support level 200 which indicate short term weakness. As remain below 195 down side target 187-185-180 which is last and final support, thereafter free fall. 

This counter shortly down trend in this counter and 204.00 level above buy at only and 204.00 level below shortly down trend in this counter and low side support at 195.00 level and 190.50 level and 204.00 level cross above up side resistance at 210.00 and 214.50 level........and day trading and earn daily profit = profit choice pack 

Natural Gas (MCX-Feb'11): Natural Gas is still in downtrend. Above 200 only, it will attract the buyers else be short on high with SL of 201. 

The top losers at MCX are Natural gas for February contract (-1.72%), Maize for April contract (-1.69%), Natural gas for March contract (-1.59%), Natural gas for April contract (-1.07%) and Ironore for February contract (-0.98%). (At 02:46 PM today).

Natural gas futures continued to decline in the domestic market on the back of tracking weak cues from the global market. February future dropped as much as 1.92% to Rs. 193.80 per mmbtu on the Multi Commodity Exchange (MCX).

Natural gas for March contract declined 2.85% to $4.187 per million British thermal units on the New York Mercantile Exchange (NYMEX) on expectation of milder weather later this month that reduced the demand outlook for heating fuel in the U.S., world’s largest energy consumer country. Temperatures may be above than normal in the eastern U.S. from Feb. 

14 through Feb. 18, according to the EarthSat Energy Weather in Rockville, Maryland. Expectation of milder weather may reduce the demand for the heating fuel as it is used as a heating purpose in the residence during the cold weather.

About 52 percent of U.S. households use natural gas for heating, according to the Energy Department.

At Multi Commodity Exchange (MCX), natural gas future for February contract is trading at Rs. 194.20 per mmBtu, down by 1.72%, after opening at Rs. 197.10 against the previous close price of Rs. 197.60 per mmBtu. It touched the intra-day low of Rs. 193.30 till the trading. (At 05:11 PM today).