Natural gas futures: Strong base ahead

Natural gas futures have been very volatile over the past few weeks. The February contract, now trading at ₹280 (per mmBtu), rebounded on the back of the support at ₹240 nearly a month ago. It hit a high of ₹425.6 on February 1.

But the contract saw a quick reversal in trend. The price dropped significantly in recent sessions and the contract is now at ₹280.

Going ahead, the selling pressure is expected to reduce as there is a strong base at ₹260. A decline below this is less likely. If not a bullish reversal, we expect the contract to at least see a corrective rally after touching ₹260. The uptick can take the price to ₹350.

That said, if the support at ₹260 is breached, bears can gain considerable traction, potentially dragging natural gas futures to ₹235. The downswing might extend to ₹200.

Overall, there is a chance for natural gas futures to see some recovery in price, which can begin anywhere between ₹280 and ₹260, a potential support zone.

Trade strategy

Buy natural gas futures at ₹280 and ₹265. Place stop-loss at ₹245. On a rally to ₹320, revise the stop-loss to ₹290. Book profits at ₹350.

Published on February 11, 2026