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Talks between Brazilian miner Vale SA and the United Steelworkers union to end an 11-month-old strike at Vale's nickel operations in Ontario have been terminated, as the two sides were deadlocked. Nickel has touched a low of Rs 895 a kg after opening at Rs.917, and last traded at Rs 902.9.For today market is looking for the support at 892.9, a break below could see a test of 883 and where as resistance is now likely to be seen at 914.9, a move above could see prices testing 927.

Trading Ideas:

Nickel trading range is 883-927.

Vale, USW strike talks over fired employees end in deadlock

Japan's refined zinc exports for May fell 39 percent from a year earlier to 8,717 tonnes, with Taiwan accounting for the largest share of export volume, Ministry of Finance data showed. Zinc yesterday we have seen that market has moved -1.16%. Market has opened at 82.7 & made a low of 81.55 versus the day high of 82.85. The total volume for the day was at 22174 lots and the open interest was at 7755.Now support for the zinc is seen at 81.5 and below could see a test of 80.9. Resistance is now likely to be seen at 82.8, a move above could see prices testing 83.5.

Trading Ideas:

Zinc trading range is 80.9-83.5.

Copper fell sharply as weak economic data cast doubt on global demand for the industrial metal.

Crude prices crumbled, leading a broad sell-off of commodities amid a bevy of troubling data from the US and China. The latest 2010 OPEC member oil figures for crude oil production and general oil output from OPEC member countries fell in June 2010 because of lower supplies from Iraq, Angola and Nigeria. Now support for the crude is seen at 3385 and below could see a test of 3340. Resistance is now likely to be seen at 3497, a move above could see prices testing 3564.

Trading Ideas:

Crude trading range is 3340-3564.

Crude oil fell yesterday as expected in widespread commodity sell-off

Stock market analyst Hemen Kapadia has maintained 'buy' rating on Grasim Industries Ltd stock to achieve an intra-day target of Rs 1863

According to analyst, the investors can buy the stock at Rs 1843 with stop loss of Rs 1833.

The stock of the company, on July 01, closed at Rs 1843 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 315.75 and 5.87 respectively.

The share price has seen a 52-week high of Rs 2332.08 and a low of Rs 1682.70 on BSE.

Silver faltered with other growth-sensitive commodities. Often traded for similar investment reasons as gold, silver also is more widely used in industry than is the yellow metal. The same poor economic data that pressured copper also pressured silver. Silver started the day at 29518 reaching its intraday high of 29611 shortly after. As base metals and equities traded lower, Silver followed Gold on its way down to an intraday low of 28756 near the end of the session where it closed the day at 28795. Now support for the silver is seen at 28497 and below could see a test of 28199. Resistance is now likely to be seen at 29352, a move above could see prices testing 29909.