TopNews

Mentha oil December contract dropped Rs 9.2 and settled at Rs 1114.1 a kg due to profit booking as the prices traded up owing to the strong domestic and export demand. Further, the increased arrivals at spot market from the producing belts of Uttar Pradesh influenced the trading sentiment. The contract made intraday low of Rs 1111 a kg and high of Rs 1134.4 a kg with the volume of 4607 and total open interest for the same contact was at 4287. Now support for the menthol is seen at 1105.3 and below could see a test of 1096.4. Resistance is now likely to be seen at 1128.7, a move above could see prices testing 1143.2.

Trading Ideas:

Pepper January delivery gained Rs 257 and settled at Rs 22180/quintal supported by a delay in arr

Guar yesterday we have seen that market has moved -0.79% on the back of some profit booking. The prices inched higher in previous session on weak arrivals in major mandis, as the total daily arrivals were around 1 lakh bags at major mandis against the normal arrivals of 1.25-1.40 lakh bags. In Jodhpur guar prices gained 58.35 rupees to 2402.65 rupees per 100 kg. Market has opened at 2520 & made a low of 2472 versus the day high of 2533. The total volume for the day was at 282480 lots and the open interest was at 172030. Now support for the guar is seen at 2469 and below could see a test of 2440. Resistance is now likely to be seen at 2530, a move above could see prices testing 2562.

The global nickel market was in a 6,800 metric ton deficit between January and October this year, the World Bureau of Metal Statistics said. Nickel has touched a low of Rs 1101.8 a kg after opening at Rs. 1112.6, and last traded at Rs 1121.2. For today market is looking for the support at 1107.2, a break below could see a test of 1093.2 and where as resistance is now likely to be seen at 1129.8, a move above could see prices testing 1138.4.

Trading Ideas:

Nickel trading range is 1093.2-1138.4.

Global nickel market in 6,800-ton deficit Jan-Oct - WBMS

Nickel is having resistance at 1129.80 and support at 1107.20 level.

The global zinc market was in surplus by 211,000 tonnes in the first ten months of the year, the latest monthly bulletin from Lisbon-based International Lead and Zinc Study Group (ILZSG) showed. Zinc yesterday we have seen that market has moved -1.22%. Market has opened at 102.5 & made a low of 100.8 versus the day high of 103.1. The total volume for the day was at 30822 lots and the open interest was at 12068. Now support for the zinc is seen at
100.4 and below could see a test of 99.5. Resistance is now likely to be seen at 102.7, a move above could see prices testing 104.1.

Trading Ideas:

Zinc trading range is 99.5-104.1.

Copper prices ended in the red as the prices struggled to recover from trader-led profit-taking