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Inventories of aluminum monitored by the Shanghai Futures Exchange rose by 2,148 tons to 413,008 tons, based on a survey of 11 warehouses in Shanghai, Guangdong, Jiangsu and Zhejiang, the exchange said. That's the highest level since at least 2003. Aluminium has touched a low of Rs 105.15 a kg after opening at Rs 105.45, and last traded at Rs105.3.For today market is looking for the support at 105.1, a break below could see a test of 104.9 and where as resistance is now likely to be seen at 105.5, a move above could see prices testing 105.7.

Trading Ideas:

Aluminium trading range is 104.9-105.7.

Natural gas ended slightly down on profit booking Saturday after 4% Friday lifted by bargain-hunting despite warm spring weather and growing gas production. Gas supplies continue to increase despite relatively low prices, placing downward pressure on the market. Natural Gas yesterday we have seen that market has moved -0.17%. Market has opened at 181.1 & made a low of 180.8 versus the day high of 181.9. The total volume for the day was at 859 lots and the open interest was at 14683.Now support for the Natural Gas is seen at 180.6 and below could see a test of 180.2. Resistance is now likely to be seen at 181.7, a move above could see prices testing 182.4.

Jeera on Saturday ended down due to slight profit booking at the week end. Lower levels may attract stockiest and retailers to buy the commodity. Prices may get some support once arrival pressure slows down in the physical market after April. Spot rates in Unjha, a key market in Gujarat, gained 31 rupees to end at 12020 rupees per 100 kg. May contract dropped Rs -60 and settled at Rs 11732 a kg. The contract made intraday low of Rs 11712 a kg and high of Rs 11915 a kg. Support for jeera is at 11658 below that could see a test of 11583. Resistance is now seen at 11861 above that could see a resistance of 11989.

Trading Ideas:

Turmeric ended higher buoyed by enquiries from the overseas market and depleting stocks. Encouraging enquiries are coming from Dubai and it is supporting prices. Prices may escalate further from these levels. Arrivals in Nizamabad were 12,000 bags of 70 kilogram each compared with 22,500 bags Thursday. Turmeric yesterday we have seen that market has moved 1.52%. Market has opened at 11654 & made a low of 11365 versus the day high of 11880. The total volume for the day was at 9170 lots and the open interest was at 10590.Support for turmeric is at 11241 below that could see a test of 11045. Resistance is now seen at 11756 above that could see a resistance of 12075.

Chana ended down on mounting arrivals from Madhya Pradesh and Rajasthan, ample stocks and on estimates of higher output. Prices may be supported by a decision by the Rajasthan state government to increase the stock limit of chana to ensure better prices for farmers. In Delhi spot market, price dropped 11 rupees to end 2,217 rupees per 100 kg. Chana dropped Rs 31 and settled at Rs 2288 per quintal. The volume was noted at 74650 lots. Support for chana is at 2273 below that could see a test of 2259. Resistance is now seen at 2313 above that could see a resistance of 2339.

Trading Ideas:

Chana trading range is 2259-2339.

Pepper ended down on profit taking and fresh short position build-up. Also farmers in Vietnam are not willing to sell at current levels as they are expecting higher price. Spot pepper gained 143 rupees to end at 15,322 rupees per 100 kg in Kochi. May delivery dropped Rs 224 and settled at Rs 15573/quintal. The contract touched the intra day high of Rs 15938/quintal while low of Rs 15530/quintal. Now support for the pepper is seen at 15423 and below could see a test of 15272. Resistance is now likely to be seen at 15831, a move above could see prices testing 16088.

Trading Ideas:

Pepper trading range is 15272-16088.