Commodity Outlook for Aluminium by KediaCommodity

AluminumWorld aluminum inventories in May rose 3.1%, or 71,000 metric tons, to 2.339 million tons, from 2.268 million tons in April, according to figures released by the International Aluminum Institute.  May's figure was 6.8% below the May 2009 inventory figure of 2.511 million tons, but it was the highest level since August 2009. Aluminium has touched a low of Rs 90.75 a kg after opening at Rs 90.9, and last traded at Rs92.2.For today market is looking for the support at 91, a break below could see a test of 89.8 and where as resistance is now likely to be seen at 93.1, a move above could see prices testing 94.

Trading Ideas:

Commodity Outlook for Natural Gas by KediaCommodity

Natural GasNatural gas finished lower as traders took profits on indications that Tropical S

Commodity Outlook for Jeera by KediaCommodity

JeeraJeera July contract gained Rs 387 and settled at Rs 13218 a kg tracking bullish physical market cues as arrivals dropped amid depleting stocks. Spot demand is gradually picking up. At Unjha, the benchmark spot market in Gujarat, jeera gained 143 rupees to end at 12,800 rupees per 100 kg. Firm trend in other spices also supported the upside in jeera. The contract made intraday low of Rs 12811 a kg and high of Rs 13223 a kg. Support for jeera is at 12945 below that could see a test of 12672. Resistance is now seen at 13357 above that could see a resistance of 13496.

Trading Ideas:

Jeera trading range is 12672-13496.

Commodity Outlook for Turmeric by KediaCommodity

TurmericTurmeric yesterday we have seen that market has moved 0.3% supported by interest from over

Commodity Outlook for Chana by KediaCommodity

ChanaChana gained Rs 31 and settled at Rs 2250 per quintal on active buying by millers, good local demand and restricted arrivals. Demand is coming from millers at these levels. Arrivals are very limited. In Delhi spot market, chana gained 22 rupees to end at 2,192 rupees per 100 kg. The volume was noted at 94670 lots. Support for chana is at 2228 below that could see a test of 2207. Resistance is now seen at 2265 above that could see a resistance of 2281.

Trading Ideas:

Chana trading range is 2207-2281.

Chana ended higher on active buying by millers and restricted arrivals.

Commodity Outlook for Soyabean by KediaCommodity

SoybeanSoyabean yesterday we have seen that market has moved 1.32% as lagging soybean sowing in the country raised concerns about output this year. In the Indore spot market, soybean rose by 13 rupees to 1,917 rupees per 100 kg. Market has opened at 1930.5 & made a low of 1922 versus the day high of 1956. The total volume for the day was at 41510 lots and the open interest was at 108010.Support for soyabean is at 1931 below that could see a test of 1910. Resistance is now seen at 1965 above that could see a resistance of 1978.

Trading Ideas:

Soyabean trading range is 1910-1978.

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