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

BHP 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

Zinc yesterday traded with the negative node and settled -0.05% down at 103.8.

Copper ended firm bullish demand prospects from China in the new year kept prices buoyant near all-time record peaks. Stocks of copper in LME warehouses rose for the fifth day in a row. Latest data showed a small increase of 600 tonnes, to 361,400 tonnes. Inventories in warehouses monitored by the Shanghai Futures Exchange rose 10 percent on the week. Overall, global stocks estimated at above

Crude oil prices ended flat amid concerns about the euro zone economy and as investors continued to square positions. Oil may decline next week on speculation that the U. S. Energy Department will report an increase in supplies after the biggest drop in more than eight years in this week’s data. China has extended its 5 percent resource tax on domestic sales of crude oil and natural gas to 12 western regions and provinces, a government official said. Now support for the crude is seen at 4051 and below could see a test of 4044. Resistance is now likely to be seen at 4063, a move above could see prices testing
4068.

Trading Ideas:

Silver prices rose as a strong economic forecast sparked hope that demand for industrial metals