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Jeera hit fresh contract highs on bargain buying after prices fell nearly 8 percent in the last 7 sessions and on low stocks, a trend which may continue in the next session. Spot rates in Unjha, a key spot market in Gujarat, price gained 146 rupees to end at 12,667 rupees per 100 kg. June contract gained Rs 219 and settled at Rs 13087 a kg. The contract made intraday low of Rs 12831 a kg and high of Rs 13190 a kg. Support for jeera is at 12882 below that could see a test of 12677. Resistance is now seen at 13241 above that could see a resistance of 13395.

Trading Ideas:

Jeera trading range is 12677-13395.

Turmeric shed nearly 3 percent as profit-booking emerged after prices rose more than 28 percent in the last 9 sessions. In Nizamabad, a major spot market in Andhra Pradesh, the price dropped 64 rupees to end at 15,504 rupees. Turmeric yesterday we have seen that market has moved -3.24%. Market has opened at 15200 & made a low of 14631 versus the day high of 15260. The total volume for the day was at 11170 lots and the open interest was at 7450. Support for turmeric is at 14483 below that could see a test of 14242. Resistance is now seen at 15112 above that could see a resistance of 15500.

Trading Ideas:

Turmeric trading range is 14242-15500.

Chana hit fresh contract lows on pressure from arrivals, estimates of higher production and sufficient stocks. Demand in chana dal is not picking up as traders are expecting more correction in the prices. In Delhi spot market, chana slipped 7 rupees to end at 2,143 rupees per 100 kg. Chana dropped Rs 20 and settled at Rs 2222 per quintal. The volume was noted at 87710 lots. Support for chana is at 2206 below that could see a test of 2190. Resistance is now seen at 2249 above that could see a resistance of 2276.

Trading Ideas:

Chana trading range is 2190-2276.

Chana hit fresh contract lows on estimates of higher production

Soybean as per expectation ended down as weak soymeal export demand and high edible oil stock

Aberdeen Asset Management, the largest listed money manager in UK, registered excellent profit in the first half of the fiscal. The profit in the first six months of the fiscal was reported up by more than 200% compared to the same period last year. Aberdeen said that the excellent result in the first half was mainly attributable to the increased fee income in the period.

May contract dropped Rs 5.8 and settled at Rs 705.5 a kg. The contract made intraday low of Rs 701.1 a kg and high of Rs 731.7 a kg with the volume of 5585 and total open interest for the same contact was at 3842.Now support for the menthol is seen at 693.8 and below could see a test of 682.2. Resistance is now likely to be seen at 724.4, a move above could see prices testing 743.4.

Trading Ideas:

Menthol Oil trading range is 682.2-743.

Mentha oil spot is at 785/-. Spot is down by Rs. 15/-.

Resistance for the mentha oil is at 710.40

Support for mentha oil is at 700.80.