Natural Gas prices have risen sharply in the last couple of weeks. The Natural Gas Futures contract on the Multi Commodity Exchange (MCX) has surged over 45 per cent from around ₹255 per mmBtu in mid-October to ₹375 per mmBtu now.
Outlook
The recent price rise confirms the end of the downtrend that was in place since mid-March this year. That leaves the outlook bullish. Supports are at ₹350 and ₹332. The MCX Natural Gas Futures contract can rise to ₹400-410 in the coming weeks.
From a big picture, there is more room in the upside for the Natural Gas price to rise from here. As long as the contract stays above ₹330, there is potential to target ₹480 on the upside in the coming months.
This bullish view will go wrong only if the contract declines below ₹330. If that happens, the MCX Natural Gas Futures contract can fall to ₹300-290 thereafter. But such a fall looks less likely. A strong negative trigger might be needed to drag the price below ₹330.
Trade Strategy
Considering the risk/reward ratio, traders can wait for dips to go long at ₹360 and ₹340. Keep the stop-loss at ₹320 initially. Trail the stop-loss up to ₹370 as soon as the contract goes up to ₹380. Move the stop-loss up to ₹382 and ₹390 when the contract touches ₹395 and ₹400 respectively. Exit the long positions at ₹410.
Published on November 3, 2025
