MCX Natural Gas January contract opened at 204.50 per mmBtu against previous close of 203.80. It made an intraday high of 205.50 and last traded at 204.40 up by 60 paise.
Last two days closing price of Natural Gas remained above 13 and 21 exponential moving averages which suggests more buyers. Strong Support for Natural Gas is seen near 200 while it faces resistance near 206.80.
Short term traders can buy MCX Natural Gas above 207 for target of 216 with stop loss of 199.