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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

Guar yesterday we have seen that market has moved -2.9% as good rainfall in Rajasthan over the weekend is expected to boost sowing operations and on weakening demand for the byproducts of guar seed. This rainfall may help in accelerating the sowing operations in Rajasthan. In the Jodhpur spot market, guar seed fell 71 rupees to end at 2,298 rupees per 100 kg. Market has opened at 2436 & made a low of 2361 versus the day high of 2436. The total volume for the day was at 365880 lots and the open interest was at 174900.Now support for the guar is seen at 2349 and below could see a test of 2317. Resistance is now likely to be seen at 2424, a move above could see prices testing 2467.

Stock market analyst Sanjay Surekha has maintained 'buy' rating on HDFC Bank stock with long term target of Rs 2180.

According to analyst, the investors can buy the stock stop loss of Rs 1990.

Today, the stock of the bank opened at Rs 2052 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 68.91 and 30.03 respectively.

The share price has seen a 52-week high of Rs 2110.40 and a low of Rs 1369 on BSE.

Mitsui Mining & Smelting Co. said it raised its zinc selling price by Y10,000 to Y210,000 a metric ton. This will bring the average zinc selling price for July to Y204,800. Zinc yesterday we have seen that market has moved 0.67%. Market has opened at 89.5 & made a low of 88.85 versus the day high of 90.45. The total volume for the day was at 23890 lots and the open interest was at 5532.Now support for the zinc is seen at 89.3 and below could see a test of 88.3. Resistance is now likely to be seen at 90.9, a move above could see prices testing 91.5.

Trading Ideas:

Zinc trading range is 88.3-91.5.

According to the prime minister of Lebanon, the findings of a tribunal probing the 2005 slaying of a former Lebanese prime minister will not push the country toward civil war.

It has been reported that Hezbollah Secretary-General Hassan Nasrallah announced last week that he expected members of the Shiite resistance in Lebanon to be indicted by the Special Tribunal for Lebanon for the 2005 assassination of former Lebanese Prime Minister Rafik Hariri.