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Mentha oil July contract dropped Rs -4.6 and settled at Rs 698 a kg due to profit booking. At Barabanki, the total stock was 12,48,683 kg of which, physical stock accounted for 12,04,093 and demat stock was 44,590 kg. The contract made intraday low of Rs 696.7 a kg and high of Rs 707.8 a kg with the volume of 2835 and total open interest for the same contact was at 4576.Now support for the menthol is seen at 693.9 and below could see a test of 689.7. Resistance is now likely to be seen at 705, a move above could see prices testing 711.9.

Trading Ideas:

Menthol Oil trading range is 689.7-712.

The Euro broke the resistance specified in yesterday's report 1.2603, and successfully reached the first suggested target 1.2681 with a very good accuracy since yesterday's high was 1.2686.

Pepper August delivery dropped Rs 227 and settled at Rs 18755/quintal on reviving export and domestic demand amid a supply shortage. India's pepper output in 2010 is expected at around last year's levels, but prices are unlikely to fall sharply in coming months due to low carry-over stocks. Spot prices in the key Kochi market rose by more than 202 rupees to be at 18366 rupees per 100 kg. The contract touched the intraday high of Rs 18880/quintal while low of Rs 18506/quintal. Now support for the pepper is seen at 18547 and below could see a test of 18340. Resistance is now likely to be seen at 18921, a move above could see prices testing 19088.

Trading Ideas:

The coalition government is to meet its top suppliers to discuss about plans to cut the cost of their contract.

The meeting is to be held by the Office of Government Commerce (OGC). This talk will be the latest attempt to try to cut the gap between spending and income of the country by the coalition government.

The companies supply about 80 billion euros public service market of the UK.

Guar yesterday we have seen that market has moved 2.91% on market talk area under guar may not rise th

According to a commission report, the public sector pension system needs a radical reform as the pensions is costing twice as much as it was estimated before.

The pension is costing a minimum of 40% of the salaries which is an extra burden for the taxpayers to pay.

The Commission of Public Sector Pension has said that only half of the pensions come from the employers and the workers but the rest comes from the pocket of the taxpayers. In a response to this comment the TUC has said that the commission was set up by the private sector employers.