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Guar ended almost steady and after making high of rupees 2720 on some buying support at lower levels, after prices fell nearly 4 percent in the last five sessions till Monday's close. Weak demand for meal and ample stocks of guar gum to limit the upside. In the Jodhpur spot market, guar seed edged down 2 rupees to end at 2,345 rupees per 100 kg.

The global nickel market may be in supply deficit only briefly if producers manage to bring on line faster than expected new projects waiting in the wings. Nickel has touched a low of Rs 994.2 a kg after opening at Rs. 1015, and last traded at Rs 1014.3. For today market is looking for the support at 999.9, a break below could see a test of 985.4 and where as resistance is now likely to be seen at 1023.1, a move above could see prices testing 1031.8.

Trading Ideas:

Nickel trading range is 985.4-1031.8.

The global nickel market may be in supply deficit

Nickel is getting support at 1008.80 and resistance is at 1019.20.

China's Jinchuan sees nickel prices retreating

Mitsui Mining & Smelting Co., Japan’s biggest refined zinc producer, plans to increase output at its Hachinohe smelter by 11 percent in the year starting from April 1. Mitsui Mining projects Japan’s zinc exports to decline to 110,000 tons in calendar 2010, down from a record 156,000 tons in 2009, while the country’s domestic consumption may rise to 526,800 tons from 433,000 tons.

Zinc yesterday we have seen that market has moved -0.37%. Market has opened at 107.05 & made a low of 105.3 versus the day high of 107.35. The total volume for the day was at 32583 lots and the open interest was at

Copper bounced from lows to end near steady on fund buying while the U. S. dollar eased and equities firmed, but observers say the metal's upside may be limited unless stronger demand indications emerge. Inventories of copper stored in LME warehouses fell 2,700 metric tons, leaving them at 538,875.

The most recent Comex inventory data, released late Monday afternoon, were unchanged at 102,192 short tons. Copper has touched a low of Rs 337.75 a kg after opening at Rs 342.55, and last traded at Rs342.5. For today market is looking for the support at 339, a break below could see a test of 335.4 and where as resistance is now likely to be seen at 344.9, a move above could see prices testing 347.2.344.9, a move above could see prices testing 347.2.

Crude Oil yesterday dipped initially but again jumped on dollar weakness and some pressure is be seen today as the dollar strengthened and an industry-funded report showed an increase in U. S. crude supplies, fanning concern that demand in the world’s biggest energy user is slow to recover.

Saudi Arabia had 4 million barrels a day of spare oil output capacity that can be absorbed into the market when global energy consumption recovers. Now support for the crude is seen at 3681 and below could see a test of 3638. Resistance is now likely to be seen at 3750, a move above could see prices testing 3776.

Trading Ideas:

Silver initially tumbled with gold, but bounced from chart support, prompting traders to buy in order to cover short positions in which they previously sold. Silver opened 26816 and tumbled, washing out longs, reaching an intraday low of 26460. This move quickly reversed as the metal moved higher on the back of strengthening base metals and a weakening USD.

Silver was well bid for the remainder of the session climbing to a high of 27090. It ticked sideways as the trading day came to a close, finally settling at 27033. Now support for the silver is seen at 26632 and below could see a test of 26231. Resistance is now likely to be seen at 27262, a move above could see prices testing 27491.

Trading Ideas:

Silver trading range is 26231-27491.