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Chana gained Rs 61 and settled at Rs 2408 per quintal as good demand from millers amid poor supplies and concerns weak rainfall over kharif pulses growing areas may hamper sowing, aided sentiment. In the spot, demand is good from millers and prices may continue to move up.

In Delhi spot market, chana moved up 9 rupees to end at 2,284 rupees per 100 kg. The volume was noted at 250640 lots. Support for chana is at 2361 below that could see a test of 2314. Resistance is now seen at
2435 above that could see a resistance of 2462.

Soyabean yesterday we have seen that market has moved 1.63% on lower-level buying support. Export demand for soymeal has improved and that is supporting soybean prices. In the Indore spot market, soybean jumped 24 rupees to 1,996 rupees per 100 kg.

Market has opened at 2030 & made a low of 2026 versus the day high of 2062. The total volume for the day was at 90740 lots and the open interest was at
105380. Support for soyabean is at 2036 below that could see a test of 2013.

Mentha oil July contract gained Rs 3 and settled at Rs 688.2 a kg on buying support. On July 20th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 8,87,124 kg of which 8,52,586 kg is physical stock and 34,537 is the demat stock.

Pepper August delivery gained Rs 827 and settled at Rs 21479/quintal on restricted supplies in the spot as farmers awaited further rise in prices, good domestic demand and firmness in international market. Supply is weak both in domestic and overseas markets.

In India, production has stagnated between 45,000-50,000 tonnes whereas domestic consumption is rising. Spot pepper climbed 552 rupees to end at 20,811 rupees per 100 kg in Kochi. The contract touched the intraday high of Rs 21479/quintal while low of Rs 20650/quintal. Now support for the pepper is seen at 20926 and below could see a test of

Guar yesterday we have seen that market has moved -0.16% trimming its gains on profit-taking driven by weakening demand for churi and korma, the byproducts of guar seed. Apprehensions of lower sowing due to insufficient rainfall restricted the losses.

In the Jodhpur spot market, guar seed edged up 1.50 rupees to end at 2,463.50 rupees per 100 kg. Market has opened at 2570 & made a low of 2547 versus the day high of 2593. The total volume for the day was at 451510 lots and the open interest was at 196900.Now support for the guar is seen at 2538 and below could see a test of 2519. Resistance is now likely to be seen at 2584, a move above could see prices testing 2611.

Trading Ideas:

Guar trading range is 2519-2611.

The world refined nickel market was in a 5, 000-metric-ton deficit in the first five months of the year, the World Bureau of Metal Statistics said.  This compares with a surplus of 48,600 tons during the year-earlier period, the WBMS said.  Nickel has touched a low of Rs 903.1 a kg after opening at Rs.903.5, and last traded at Rs 917.9.

For today market is looking for the support at 906.3, a break below could see a test of 894.8 and where as resistance is now likely to be seen at 926.2, a move above could see prices testing 934.6.

Trading Ideas:

Nickel trading range is 894.8-934.6.