Soyabean yesterday we have seen that market has moved -0.92% as the physical markets are not supporting the upside movement for the commodity. On international front too, not much activities is seen due to absence of any fresh cues. At the Indore spot market in top producer MP, soybean dropped -4 Rs to 2191Re 100 kgs. Market has opened at 2285 & made a low of 2254 versus the day high of 2286. The total volume for the day was at 76740 lots and the open interest was at 227520.Support for soyabean is at 2247 below that could see a test of 2234. Resistance is now seen at 2279 above that could see a resistance of 2298.
Mentha oil December contract gained Rs 9.5 and settled at Rs 1118.9 a kg due to bargain buying on the heels of strong export demand coupled with weak crop projections of the current year. The total daily arrivals of mentha oil in major mandies have reduced to 350-400 drums against 550 drum reported earlier. The contract made intraday low of Rs 1089.5 a kg and high of Rs 1132.3 a kg with the volume of 7450 and total open interest for the same contact was at 4141.Now support for the menthol is seen at 1094.8 and below could see a test of 1070.8. Resistance is now likely to be seen at 1137.6, a move above could see prices testing 1156.4.
Pepper January delivery dropped Rs 272 and settled at Rs 21908/quintal weighed by tepid exports, t
Guar yesterday we have seen that market has moved 2.47% on hopes of higher guar gum exports, though a ri
Nickel yesterday traded with the positive node and settled 0.63% up at 1112.9. Some pressure had been seen from the LME stock also which came up by 192mt, the total stock at LME is now at 131166mt. In yesterday's trading session nickel has touched the low of 1096 after opening at 1108, and finally settled at 1112.9. For today's session market is looking to take support at 1100.6, a break below could see a test of 1088.4 and where as resistance is now likely to be seen at 1120.5, a move above could see prices testing 1128.2. Spread between nickel DEC & JAN contracts yesterday ended at 8.70. Spread yesterday traded in the range of 8.60 - 12.8.
Zinc yesterday traded with the negative node and settled -1.3% down at 102.6 on fresh selling by specula
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