Natural gas futures (₹300/mmBtu) lost 2.4 per cent last week and opened on the weak foot on Monday. They are now testing a support, which is important from the trend perspective.
The June futures remained volatile last week. However, they were unable to break out of the resistance at ₹323. The contract is now hovering around a support at ₹300. Both the 21- and 50-day moving average lie near this level, making it a good base.
If natural gas futures rebound on the back of this, it can retest the hurdle at ₹323. A breakout of this can lift the contract to ₹340.
On the other hand, if the contract breaches the support at ₹300, the decline could extend to ₹285-280 support band. A breach of ₹280 can intensify the sell-off, potentially dragging the contract to ₹270 and subsequently to ₹256.
Last week, we suggested buying natural gas futures if the price falls to ₹310. Participants who initiated this trade can retain it with a stop-loss at ₹295. Book profits at ₹340.
Published on June 8, 2026
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