The XANES studies at Mn, Ni and Ga K-edge of Ni2MnGa compound have been carried out at room and low temperatures. The Mn K-edge and Ni K-edge spectra shows modulation in the post edge features when the sample is cooled below martensitic transition temperature. It is strongly reflected in the XANES of Mn K-edge where the peak after the edge gets totally suppressed when the sample is in martensitic phase. This peak shows a hysteretic behaviour when thermal cycling was done across the martensitic transition temperature. This clearly shows that the peak height is a measure of austenitic phase present at a particular temperature. This demonstrates the strong correlations of electronic states and crystal structures in these compounds.