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Aluminium yesterday traded with the positive node and settled 0.05% up at 97.25. Some support had been seen from the LME stock also which came down by -7025mt, the total stock at LME is now at 4598650mt. In yesterday's trading session aluminium has touched the low of 96.75 after opening at 96.75, and finally settled at 97.25.

For today's session market is looking to take support at 96.9, a break below could see a test of 96.5 and where as resistance is now likely to be seen at 97.5, a move above could see prices testing 97.8.

Trading Ideas:

Aluminium trading range is 96.5-97.8.

Alcoa postpones Italian aluminum smelter shutdown

Support for aluminium is at 96.10 and resistance is at 98.40 level.

Jeera ended higher on Saturday on buying interest at low-levels, but rising arrivals in the physical market and higher output estimates limited the upside. Arrivals are expected to pick up in the next few days and would be peaking in March-April. Spot jeera jumped 30 rupees to 11,802.15 rupees per 100 kg in Unjha.

March contract gained Rs 41 and settled at Rs 11631 a kg. The contract made intraday low of Rs 11555 a kg and high of Rs 11670 a kg. Support for jeera is at 11578 below that could see a test of 11504. Resistance is now seen at
11682 above that could see a resistance of 11734.

Trading Ideas:

Turmeric fell on Saturday as pressure from rising arrivals in the physical market and weak exports offset depleting stocks. Estimations of higher output also weighed on prices. Turmeric exports in December remained flat at 3,250 tonnes from a year ago. In Nizamabad spot market the prices settled at 9,698.25 rupees.

Turmeric yesterday we have seen that market has moved -0.45%. Market has opened at 7490 & made a low of 7405 versus the day high of 7520. The total volume for the day was at 6300 lots and the open interest was at
23800. Support for turmeric is at 7395 below that could see a test of 7342. Resistance is now seen at 7510 above that could see a resistance of 7572.

Trading Ideas:

Chana settled down with marginal change Saturday on selling at higher level continued to weigh on prices amid bearish fundamentals. March chana has fallen more than 25 percent as on Friday close from a Nov. 26 high on hopes of higher output due to expanded acreage, fears of government intervention to curb food inflation and ample carry-forward stocks.

In the Delhi spot market, price slipped 7 rupees to 2,200 rupees per 100 kg. Chana dropped Rs 8 and settled at Rs 2181 per quintal. The volume was noted at 58550 lots. Support for chana is at 2163 below that could see a test of
2146. Resistance is now seen at 2198 above that could see a resistance of 2216.

Soybean on Saturday settled steady due to weak global cues. The downward revision in production estimate is supporting oilseed complex. In short-term, it will keep prices on higher side despite weak meal exports. Soyabean yesterday we have seen that market has moved 0.07%. Market has opened at 2084.5 & made a low of 2074.5 versus the day high of 2094.

The total volume for the day was at 37320 lots and the open interest was at 199600.Support for soyabean is at 2075 below that could see a test of 2065. Resistance is now seen at 2095 above that could see a resistance of 2104.

Trading Ideas:

Mumbai, Feb 22 - Any fashion week is a trade event and the Lakme Fashion Week (LFW) here next month won't be an exception. Here too buyers will probably not be in a hurry to grab exclusive designs, but instead hunt for creative minds.

"At fashion shows like Lakme Fashion Week, we are always looking out for talents. The idea is to spot some talent, provide them with a platform, so that our customer benefits. They (customers) get new designs with different creativity," Gaurav Mahajan, COO of Westside, told IANS.