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Natural Gas Technical Recommendation for Intraday trader

Natural gas February contract closed at 165.40 down by 3 rupees. Natgas has broken key support of 164 but failed to settle below the same. Today again support would be at 162 any move below this level would bring 157-152-145 and more down side. Resistance is now seen near 172 any recovery above that level would bring some charm back and then we will see this commodity heading towards 177-184 and more upside.

Natural Gas trading range for the day is expected among the key support at 162 and resistance at 170.

Recommendation:

* Buying natgas on dips around 167-165 ssl 162 trgt 173-177-183.

* Selling below 162 sl above 166 trgt 153 -145-138. 

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