For intra-day, support for the commodity is seen at 213 while resistance is seen at 222.5 level. Intra-day traders are advised to remain cautious while taking positions. MCX natural gas for July delivery was seen trading up by 0.14% at Rs.216.60 per mmBtu as of 02.45 PM IST on Thursday.

MUMBAI : Natural gas futures for July delivery on India's Multi Commodity Exchange (MCX) is expected to trade range bound for the day as market is witnessing volatility, according to our analyst at Commodity Online.

“For intra-day, support for the commodity is seen at 213 while resistance is seen at 222.5 level. Intra-day traders are advised to remain cautious while taking positions,” said Tarang Parmar, Research Analyst at Commodity Online.

MCX natural gas for July delivery was seen trading up by 0.14% at Rs.216.60 per mmBtu as of 02.45 PM IST on Thursday.

US natural gas prices continued their negative trend on speculation that moderating heat in the country would reduce demand for natural gas.

NYMEX natural gas for August delivery was seen trading up by 0.01% at $3.630 per mmBtu as of 02.51 PM IST on Thursday.

US Energy Information Administration is scheduled to release its weekly natural gas inventory data at 08.00 PM IST today. The data release may affect the commodity prices to certain extent.


Read more: Harrey Martin (MCX Natural Gas May Trade Range Bound; EIA Data Awaited)