Commodity Outlook for Chana by KediaCommodity

ChanaChana dropped Rs 34 and settled at Rs 2528 per quintal weighed by hopes of higher output and deliveries in the coming month. Arrivals are likely to get delayed as unseasonal rains in October and November had delayed sowing of the winter pulse. India has raised minimum support price (MSP) of chana by 19.3 percent to 2,100 rupees per 100 kg. Total arrivals of chana were around 35 motors in Delhi mandi. In Delhi spot market, chana fell down by -14.15 rupee to end at 2485.85 rupee per 100 kgs. The volume was noted at 47570 lots. Support for chana is at 2517 below that could see a test of
2505. Resistance is now seen at 2550 above that could see a resistance of 2571.

Commodity Outlook for Soyabean by KediaCommodity

SoyabeanSoyabean yesterday we have seen that market has moved 0.76% tracking a firm U. S.

Commodity Outlook for Mentha oil by KediaCommodity

Mentha oilMentha oil December contract dropped Rs 1.7 and settled at Rs 1079.9 a kg as traders covered their short positions on weekend. The major mandies of Uttar Pradesh such as Sambhal and Chandausi have witnessed the daily average arrivals of around 400-5000 drums. The contract made intraday low of Rs 1048.1 a kg and high of Rs 1090.8 a kg with the volume of 3532 and total open interest for the same contact was at 4266. Now support for the menthol is seen at 1055.1 and below could see a test of 1030.2. Resistance is now likely to be seen at 1097.8, a move above could see prices testing 1115.6.

Trading Ideas:

Mentha Oil trading range is 1030.2-1116.

Commodity Outlook for Pepper by KediaCommodity

PepperPepper January delivery dropped Rs 99 and settled at Rs 22115/quintal on profit booking at the w

Commodity Outlook for Guar by KediaCommodity

guarGuar yesterday we have seen that market has moved -0.76% as expected rise in production weighed.

Commodity Outlook for Nickel by KediaCommodity

NickelBHP Billiton said that a shortage of nitrogen gas has interrupted production at its Kwinana nickel refinery in Western Australia. Nickel has touched a low of Rs 1130.6 a kg after opening at Rs. 1134, and last traded at Rs 1132.1. For today market is looking for the support at 1130.4, a break below could see a test of 1128.6 and where as resistance is now likely to be seen at 1134.1, a move above could see prices testing 1136.

Trading Ideas:

Nickel trading range is 1128.6-1136.

BHP Billiton said that shortage of nitrogen gas has interrupted production at its Kwinana nickel refinery

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