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Mentha oil recovered ground during the second half on firm cues from physical markets. April contract gained Rs 5.5 and settled at Rs 626.7 a kg. The contract made intraday low of Rs 618.7 a kg and high of Rs 628.8 a kg with the volume of 1742 and total open interest for the same contact was at 2791.Now support for the menthol is seen at 620.7 and below could see a test of 614.6. Resistance is now likely to be seen at 630.8, a move above could see prices testing 634.8.

Trading Ideas:

Menthol Oil trading range is 614.6-635.

Mentha oil spot is at 687/-.Spot is up by Rs 10/-.

Resistance for the mentha oil is at 630.80

Pop singer Baba Sehgal has performed a song for director Neelkamal's film, Puneeth. The singer will also be making an appearance in the video of the song. Baba Sehgal performed the song for a nice sum of Rs. 6 lakhs. The
song shoot took place at Innovative Film City near Bidadi for two days.

The song, `College Collejalli Ondhu Hudugi Nodiddhu Yaake'. features actress Neethu with Baba Sehgal and is a rap sequence. The music has been composed by Kabir Raj.

Pepper ended up on account of firm domestic demand and overseas enquiries. A firm spot supported prices. The trend is also bullish as production this year from Vietnam and India are expected to be lower. Spot pepper in Kochi, the major spot market, ended at 14,800.45 rupees per 100 kg, up 143.1 rupees. April delivery gained Rs 128 and settled at Rs 15022/quintal. The contract touched the intra day high of Rs 15186/quintal while low of Rs 14850/quintal. Now support for the pepper is seen at 14853 and below could see a test of 14683. Resistance is now likely to be seen at 15189, a move above could see prices testing 15355.

Trading Ideas:

Guar ended higher on thin arrivals in the physical market and a lower output estimate. High stock levels are preventing any major upside movement in rates. Guar yesterday we have seen that market has moved 0.61%. Market has opened at 2292 & made a low of 2278 versus the day high of 2307. The total volume for the day was at 178260 lots and the open interest was at 134110.Now support for the guar is seen at 2284 and below could see a test of 2266. Resistance is now likely to be seen at 2313, a move above could see prices testing 2324.

Trading Ideas:

Guar trading range is 2266-2324.

Nickel rose yesterday due to general rise in the metal complex and restocking at stainless steel mills, sign market players are interpreting as better demand for the metal. Jinchuan Group raised ex-works nickel prices by RMB 4,000/mt to RMB 171,000/mt on March. Nickel has touched a low of Rs 1090.1 a kg after opening at Rs.1092, and last traded at Rs 1121.2.For today market is looking for the support at 1099.9, a break below could see a test of 1078.5 and where as resistance is now likely to be seen at 1132.8, a move above could see prices testing 1144.3.

Trading Ideas:

Nickel trading range is 1078.5-1144.3.

Zinc extends gains at two-week high tracking demand pick up hopes. Metals are rallying on concerns supply may not keep up with demand after the worst is expected to be over for the global economy. Zinc yesterday we have seen that market has moved 0.19%. Market has opened at 105.05 & made a low of 104.65 versus the day high of 106.85. The total volume for the day was at 20750 lots and the open interest was at 3586.Now support for the zinc is seen at 104.8 and below could see a test of 103.6. Resistance is now likely to be seen at 107, a move above could see prices testing 108.

Trading Ideas:

Zinc trading range is 103.6-108.