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Soyabean yesterday we have seen that market has moved -1.1% as profit-booking is emerging at higher levels. Fundamentals are still supporting the upside. The total arrivals of 1.25-1.30 lakh bags at Madhya Pradesh and Maharashtra were reported at 0.80-1lakh bags. At the Indore spot market in top producer MP, soybean gained 1 Rs to 2392Re 100 kgs. Market has opened at 2492 & made a low of 2470 versus the day high of 2510. The total volume for the day was at 104480 lots and the open interest was at 199180.Support for soyabean is at 2459 below that could see a test of 2445. Resistance is now seen at 2499 above that could see a resistance of 2525.

Mentha oil January contract gained Rs 8.1 and settled at Rs 1171.1 a kg on low level buying amid getting support from spot market. The contract made intraday low of Rs 1157 a kg and high of Rs 1177 a kg with the volume of 2974 and total open interest for the same contact was at 4006. Now support for the menthol is seen at 1159.7 and below could see a test of 1148.4. Resistance is now likely to be seen at 1179.7, a move above could see prices testing 1188.4.

Trading Ideas:

Mentha Oil trading range is 1148.7-1189.

Mentha oil spot is at 1257/-.Spot market is up by Rs 5/-.

Pepper February delivery dropped Rs 20 and settled at Rs 22840/quintal on adequate stocks following fresh arrival from producing region amid weak exports demand.  Fresh arrivals have started but in a very small quantities. Spot pepper gained 118.75 rupees to 22375 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 22992/quintal while low of Rs 22776/quintal. Now support for the pepper is seen at 22747 and below could see a test of 22653. Resistance is now likely to be seen at 22963, a move above could see prices testing 23085.

Trading Ideas:

Pepper trading range is 22667-23099.

Guar yesterday we have seen that market has moved -0.34% witnessing some profit booking after registering decent surge in last few sessions on the back of improved export demand and moderate arrivals. Increased arrivals from Jodhpur and Bikaner have kept some pressure on the rates. In Jodhpur guar prices gained 9.05 rupees to 2571.1 rupees per 100 kg. Market has opened at 2677 & made a low of 2656 versus the day high of 2695. The total volume for the day was at 207650 lots and the open interest was at 207470.Now support for the guar is seen at 2647 and below could see a test of 2632. Resistance is now likely to be seen at 2686, a move above could see prices testing 2710.

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