Natural gas futures (₹290/mmBtu) was down nearly 4 per cent last week and thus posted a loss for the second consecutive week. It is now hovering near a support.The June futures fell off from the resistance at ₹323 towards the end of the first week of this month. The price is now below both 21- and 50-day moving average and has slipped below a trendline.While the above factors show a bearish bias, the contract has a support ahead at ₹286. If this level is breached, the near-term outlook can turn bearish. In such a scenario, natural gas futures can decline to ₹270. Support below ₹270 is at ₹260.On the other hand, if the contract reclaims ₹300, it could recover back to ₹323. A breakout of ₹323 will open the door for a rally to ₹350. Nevertheless, as it stands, the bears are gaining traction but there is one last hurdle to win over the bulls.Trade strategyShort natural gas futures (Jun) if it slips below the support at ₹286. Target and stop-loss can be ₹270 and ₹300. Since the risk-reward ratio is only slightly above 1, risk-averse traders can refrain from trading.Published on June 15, 2026