Kedia Commodity

Commodity Outlook for Jeera by KediaCommodity

Jeera hit contract highs in volatile trade due to firm export demand, though hopes of a better output after rains lashed growing areas last week weighed on sentiment. This year acreage would be much higher than last year. Spot prices in Unjha rose by 46 rupees to 13,267 rupees per 100 kg. December contract gained Rs 261 and settled at Rs 14195 a kg. The contract made intraday low of Rs 13875 a kg and high of Rs 14200 a kg. Support for jeera is at 13980 below that could see a test of 13765. Resistance is now seen at 14305 above that could see a resistance of 14415.

Trading Ideas:

JEERA TRADING RANGE IS 13825-14475.

JEERA HIT CONTRACT HIGHS DUE TO FIRM EXPORT DEMAND

Commodity Outlook for Turmeric by KediaCommodity

Turmeric retreated after hitting upper circuit due to profit-taking, driven by hopes recent rains could boost yields. Turmeric prices have risen over 200 percent since the beginning of the calendar year due to depleting stockpile.

Commodity Outlook for Chana by KediaCommodity

Chana extended the previous session's gains on firm prices of kharif pulses and concerns the country's output may fall this year on lower acreage in a key state. Market is expecting lower production compared to last year. Far-month contract are still in contango. Usually they go in backwardation in arrival period of March-April. In the Delhi spot market, the price climbed by 48 rupees to 2,490 rupees per 100 kg. Chana gained Rs 9 and settled at Rs 2628 per quintal. The volume was noted at 73720 lots. Support for chana is at 2618 below that could see a test of 2607. Resistance is now seen at 2642 above that could see a resistance of 2655.

Trading Ideas:

CHANA TRADING RANGE IS 2570-2670.

Commodity Outlook for Mentha Oil by KediaCommodity

Commodity Outlook for Mentha Oil by KediaCommodity Mentha oil yesterday jumped in the afternoon session after opening lower as per expectation. The jump in the mentha oil is seen due to some short covering as well the traders are taking active part. November contract gained Rs 12.8 and settled at Rs 579.4 a kg. The contract made intraday low of Rs 566.4 a kg and high of Rs 582.3 a kg. Now support for the menthol is seen at 569.70 and below could see a test of 560.10. Resistance is now likely to be seen at 585.60, a move above could see prices testing 591.90.

Trading Ideas:

MENTHOL TRADING RANGE IS 564-590.

Commodity Outlook for Pepper by KediaCommodity

Commodity Outlook for Pepper by KediaCommodity
Pepper closed lower weighed by weak export demand, but thin stocks and firm domestic demand kept the downside limited. Spot pepper fell by 36.5 rupees to end at 14,843.60 rupees per 100 kg in Kochi. December delivery dropped Rs 143 and settled at Rs 15040/quintal. The contract touched the intraday high of Rs 15269 / quintal while low of Rs 14910/quintal. Now support for the pepper is seen at 14877 and below could see a test of 14714. Resistance is now likely to be seen at 15236, a move above could see prices testing 15432.

Trading Ideas:

Commodity Outlook for Guar by KediaCommodity

Guar extended gains to hit fresh highs, spurred by firm spot, export enquiries and estimates of lower crop. Regular off-take from stockiest and millers is seen in the physical market, but full- fledged demand has yet to arrive.

Commodity Outlook for Zinc by KediaCommodity

Commodity Outlook for Zinc by KediaCommodity
Australia's Century zinc mine will run out of concentrate at its shipping port later on Tuesday, forcing buyers to look for alternative supply sources. Zinc yesterday we have seen that market has moved 0.19%. Market has opened at 103.55 & made a low of 102.85 versus the day high of 104.7.

Commodity Outlook for Copper by KediaCommodity

Copper settled slightly higher, despite the U. S. dollar's rebound and profit-taking following the metal's strong prior-day gains. Strikers at Chile's Spence copper mine are ready to end a 35-day stoppage that has hit output if owner BHP Billiton accepts their new wage proposal, a union leader said. Inventories of copper stored in LME warehouses rose 3,550 metric tons, leaving them at 410,000.

Commodity Outlook for Crude Oil by KediaCommodity

 Nirmal BangCrude oil ended higher, recovering from earlier losses and as support from bullish refined product futures proved strong enough to withstand a late bout of selling. Kuwait's oil minister said he expected OPEC to keep output levels unchanged but push for better compliance at the group's December meeting.

Commodity Outlook for Silver by KediaCommodity

Commodity Outlook for Silver by KediaCommodity
Silver opened at 27870 on MCX. Investor demand carried the metal higher during the early morning, finding resistance at 28000. Silver retreated as the dollar took back lost ground, falling to an intraday low of 27805. However the metal was resilient and turned well bid, climbing for the remainder of the day, peaking at 28133.

Commodity Outlook for Turmeric by KediaCommodity

Commodity Outlook for Turmeric by KediaCommodity
Turmeric settled lower on profit-taking sparked by hopes recent rains may boost yields and on higher margin imposed by exchange. Profit-taking pulled down the prices, spot market is firm on lower supply and good demand. In Nizamabad spot market the price dropped by 231 rupees to 12,578 rupees per 100 kg on Friday.

Commodity Outlook for Jeera by KediaCommodity

Commodity Outlook for Jeera by KediaCommodity
Jeera rebounded from the previous session`s loss on Saturday supported by strong export and domestic demand. Jeera fell in the last two sessions influenced by favorable weather in the major producing belts. Cumin Seed exports from India surged 118 percent to 6,000 tonnes during September 2009 from 2,750 tonnes exported during August 2009.

Commodity Outlook for Soyabean by KediaCommodity

Commodity Outlook for Soyabean by KediaCommodity
Soyabean closed the session with marginal losses amid thin trading Saturday. The market continued trading within limited range as fundamentals turned a bit sideways. The losses however were limited on account of mild recovery in spot oilseeds and edible oil prices.

Commodity Outlook for Mentha Oil by KediaCommodity

Commodity Outlook for Mentha Oil by KediaCommodity
Mentha oil yesterday recovered sharply as per expectation after opening lower. Yesterdays jump was seen due to rise in spot prices. Traders and exporters also took the active part in trading which supported the prices. November contract gained Rs 12.2 and settled at Rs 573 a kg.

The contract made intraday low of Rs 557.8 a kg and high of Rs 577 a kg. Now support for the menthol is seen at 561.50 and below could see a test of 550.00. Resistance is now likely to be seen at 580.70, a move above could see prices testing 588.40.

Trading Ideas:

Commodity Outlook for Pepper by KediaCommodity

Pepper ended higher on the back of buying interest from the domestic players against the lower stocks. As per the latest updates, NCDEX accredited warehouse have nearly 4,383 tonnes of Pepper stocks as on 13th November 2009. Sharp gains were trimmed by lower export demand on lower Brazilian Pepper prices.

Spot pepper rose by over 72 rupees to end at 14,935.9 rupees per 100 kg in Kochi. December delivery gained Rs 58 and settled at Rs 15200/quintal. The contract touched the intraday high of Rs 15339/quintal while low of Rs 15149/quintal. Now support for the pepper is seen at 15120 and below could see a test of 15039. Resistance is now likely to be seen at 15310, a move above could see prices testing 15419.

Trading Ideas:

Commodity Outlook for Guar by KediaCommodity

Guar settled up on short covering and on prospects of lower crop and squeezed supplies. Forecast of lower output buoyed guar to contract highs but profit-taking could not be ruled out at these levels as investors would now wait for fresh overseas cues.

Commodity Outlook for Nickel by KediaCommodity

Nickel production from the Ramu nickel mine in Papua New Guinea will likely be delayed until June of 2010. The $1.7 billion Ramu project was halted by the Papua New Guinea government for
a month in mid-2008 due to health and safety concerns. Nickel has touched a low of Rs 751.9 a kg after opening at Rs.753, and last traded at Rs 752.6.For today market is looking for the support at 751.50, a break below could see a test of 750.40 and where as resistance is now likely to be seen at 754.00, a move above could see prices testing 755.40.

Trading Ideas:

NICKEL TRADING RANGE IS 725-77.

PNG'S RAMU NICKEL MINE OUTPUT DELAYED TO JUNE

BUY NICKEL NOV @750-756 SL 746 TGT 760-764.50-769.20-772.MCX

Commodity Outlook for Zinc by KediaCommodity

U. S. zinc import fell 3.9% in September from a month ago, and was down 5.0% from the previous year, whereas U. S. zinc exports fell 27.1% in September from the previous month, and was down 88.3% from the previous year the Commerce Department reported. Zinc yesterday we have seen that market has moved -0.05%. Market has opened at 100.55 & made a low of 100.5 versus the day high of 100.7. The total volume for the day was at 157 lots and the open interest was at 4403. Now support for the zinc is seen at 100.5 and below could see a test of 100.4. Resistance is now likely to be seen at 100.7, a move above could see prices testing 100.8.

Trading Ideas:

ZINC TRADING RANGE IS 97.50-103.50. U. S. ZINC IMPORT FELL 3.9% IN SEPTEMBER FROM A MONTH AGO




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