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Chana dropped Rs 60 and settled at Rs 2323 per quintal on good rainfall in kharif pulses growing areas and forecast of more rains in the next two days. In Delhi spot market, chana fell 14 rupees to end at 2,261 rupees per 100 kg. According to the fourth advance estimates, the production of chana (gram) in 2009-10, is likely to be 7.35 million tonnes against the actual production of 7.06 million tonnes last year.  The volume was noted at 136520 lots. Support for chana is at 2295 below that could see a test of 2268. Resistance is now seen at 2365 above that could see a resistance of 2408.

Trading Ideas:

Chana trading range is 2268-2408.

The CWG officials are surely having a tough time in getting sponsors for the much-awaited sporting event Commonwealth Games but they surely have bagged one of the biggest names in the Indian business - Tata.

According to the sources, the deal is barter among the two parties wherein, the home-grown automobile major will provide 1,800 new cars to organisers of Commonwealth Games to ferry athletes in lieu of its advertisements as a logistics solutions sponsor for the 12-day sporting event.

Soyabean yesterday we have seen that market has moved -2.94% on forecast of rains in key soybean growing states and weakness in the overseas markets. Rainfall in soybean-growing central India has changed sentiment. In the Indore spot market, soybean fell by 49 rupees to 1,990 rupees per 100 kg. Market has opened at 2074.5 & made a low of 1995.5 versus the day high of 2074.5. The total volume for the day was at 107000 lots and the open interest was at 80960.Support for soyabean is at 1980 below that could see a test of 1948. Resistance is now seen at 2059 above that could see a resistance of 2106.

Trading Ideas:

Since the point of time when the Chief Minister of Gujarat Narendra Modi sent an SMS to Ratan Tata to come to Gujarat and it make it the home for the small wonder - Tata Nano, the Sanand land has turned into gold. According to the estimates, after Tata's decided to shift to Gujarat, the land prices have gone up by almost 25 times and the farmers operating and living around the area are surely thanking their stars.

Mentha oil August contract dropped Rs 2 and settled at Rs 713.2 a kg as speculators indulged in profit-booking amid fall in demand in the spot market. Increased arrivals from the producing belts in Uttar Pradesh also weighed on the prices. The contract made intraday low of Rs 710 a kg and high of Rs 715 a kg with the volume of 921 and total open interest for the same contact was at 2724.Now support for the menthol is seen at 710.5 and below could see a test of 707.7. Resistance is now likely to be seen at 715.5, a move above could see prices testing 717.7.

Trading Ideas:

Menthol Oil trading range is 707.5-718.

Pepper August delivery dropped Rs 53 and settled at Rs 20649/quintal as traders booked profits o