Sensex Choppy; Bharti, ICICI Bank, RCom Slip

Sensex Choppy; Bharti, ICICI Bank, RCom SlipIndian equities remained weak for the second day today. The 30-share index Sensex lost all its gains and fell into the negative zone amid volatility.

The country's IIP grew by 13.5% in March. In Feb 2010, IIP growth was at 15.10% as against 16.70% in January this year.

Market analysts projected a bit faster growth of 15% in March.

The poor IIP numbers dragged index lower.

The top losers of the day were Teck and metal stocks. The sectors, which saw some buying activity, comprise FMCG and healthcare.

Commodity Outlook for Aluminium by KediaCommodity

AluminumChina's aluminium output in 2010 may climb to more than 15 million tonnes and its smelting capacity grow between 2 million tonnes to 3 million tonnes. Aluminium has touched a low of Rs 92.25 a kg after opening at Rs 95.3, and last traded at Rs94.05.For today market is looking for the support at 92.4, a break below could see a test of 90.8 and where as resistance is now likely to be seen at 95.6, a move above could see prices testing 97.1.

Trading Ideas:

Aluminium trading range is 91.2-97.5.

Chinese 2010 aluminium capacity seen growing more than 15pct

Support for aluminium is at 93.80 and resistance is at 95.20 level.

Commodity Outlook for Natural Gas by KediaCommodity

Natural GasNatural-gas ended lower as ample supplies and a mild weather outlook weighed on p

Commodity Outlook for Jeera by KediaCommodity

JeeraJeera ended weak on sluggish overseas demand, higher output views and weakness in spot market. Production in 2010 is seen rising to 2.9 million bags of 60 kg each from 2.7 million bags in 2009. At Unjha, the benchmark spot market in Gujarat, jeera was fell 49 rupees to end at 12,690 rupees per 100 kg. June contract dropped Rs 110 and settled at Rs 12576 a kg. The contract made intraday low of Rs 12558 a kg and high of Rs 12749 a kg. Support for jeera is at 12506 below that could see a test of 12437. Resistance is now seen at 12697 above that could see a resistance of 12819.

Trading Ideas:

Jeera trading range is 12478-12860.

Commodity Outlook for Turmeric by KediaCommodity

TurmericTurmeric ended weak on profit-booking after rising more than 23 percent in the last 15 sessions till Monday. In Nizamabad, a major spot market in Andhra Pradesh, the price fell 295 rupees to end at 14,923 rupees. Turmeric yesterday we have seen that market has moved -2.72%. Market has opened at 14727 & made a low of 14083 versus the day high of 14850. The total volume for the day was at 13900 lots and the open interest was at 9410.Support for turmeric is at 13952 below that could see a test of 13634. Resistance is now seen at 14719 above that could see a resistance of 15168.

Trading Ideas:

Turmeric trading range is 13767-15301.

Commodity Outlook for Chana by KediaCommodity

ChanaChana hit fresh contract lows weighed by estimates of higher output. Demand of chana dal is not picking up in spot. Prices may come down further as buyers are not willing to buy at these levels. In Delhi spot market, chana ended flat at 2,125 rupees per 100 kg. Chana dropped Rs 45 and settled at Rs 2150 per quintal. The volume was noted at 106030 lots. Support for chana is at 2130 below that could see a test of 2110. Resistance is now seen at 2185 above that could see a resistance of 2220.

Trading Ideas:

Chana trading range is 2124-2234.

Chana hit fresh contract lows weighed by estimates of higher output

Pages

News in Focus

iGaming major St8 Acquires B2B Content Aggregation License for UK Casino Market

St8, an innovative technology company specializing in cutting-edge solutions for the online gambling industry, has secured a significant foothold in the European market by acquiring a B2B content a

BetPanda, 1win, JetTon Remain the Best Crypto-Friendly Online Casinos in India

The explosion of cryptocurrency casinos in 2025 marks a defining moment for the online gambling industry, with both player engagement and wager volume surging at an unprecedented rate.

Lodha Developers (Macrotech) Share Price Target at Rs 1,500: Kotak Securities

Kotak Institutional Equities has reiterated its bullish stance on Lodha Developers, assigning a "BUY" call with a revised fair value of Rs1,500 per share.

Piramal Pharma Share Price Target at Rs 305: Kotak Securities

Kotak Institutional Equities has struck a bullish note on Piramal Pharma with its latest research, reiterating a BUY recommendation and projecting a fair value of Rs305 per share against a current

Acme Solar Holdings Share Price Target at Rs 350: Kotak Securities

Kotak Institutional Equities has reiterated its bullish stance on Acme Solar Holdings (ACMESOLA), assigning a “BUY” call with an upgraded fair value of Rs350 per share.