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Kedia Stocks and Commodities Pvt Ltd
18/May/2012 09:51 AM
Aluminium trading range for the day is 108.38-110.68.
Aluminium settled 0.64% on short covering but initially seen pressure as Fitch Ratings downgraded Greek sovereign debt
US announced that the Philadelphia Fed's manufacturing index slid by 5.8 in May to hit its lowest since last September
Aluminium daily stocks at Shanghai exchange came down by 7244 tonnes
Warehouse stock for Aluminium at LME was at 4982900mt that is up by 6400mt.
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Kedia Stocks and Commodities Pvt Ltd
18/May/2012 09:51 AM
Nat.Gas trading range for the day is 130.97-149.77.
Natural gas dipped after a report from the EIA showed US gas supplies rose more than expected.
Total natural gas storage stood at 2.667tcf as of last week. Stocks were 774bcf vs 773bcf.
US are switching from pricier coal to cheaper natural gas provided further support over recent sessions.
Natural Gas is holding with a support at 130.97 and resistance will be likely at 149.77.
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Kedia Stocks and Commodities Pvt Ltd
18/May/2012 09:51 AM
Jeera trading range for the day is 13644-14068.
Jeera dropped on profit booking but downside was limited on the back of thin supply in the spot markets.
Rising export demand from Bangladesh and other neighbouring countries is likely to support prices
NCDEX accredited warehouses jeera stocks dropped by 30 tonnes to 11066 tonnes.
In Unjha, a key spot market in Gujarat, jeera dropped -84.85 rupees to end at 13767.8 rupees per 100 kg.
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Kedia Stocks and Commodities Pvt Ltd
18/May/2012 09:50 AM
Turmeric trading range for the day is 3951-4267.
Turmeric ended higher on lower level buying on rising spot demand along with thin supply
Interstate exporters have received good orders from north Indian states and expected to cover good amount of turmeric
NCDEX accredited warehouses turmeric stocks gained by 21 tonnes to 6179 tonnes.
In Nizamabad, a major spot market in AP, the price ended at 3732.4 rupees gained by 80.8 rupees.
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Kedia Stocks and Commodities Pvt Ltd
18/May/2012 09:50 AM
Chana trading range for the day is 4138-4386.
Chana dropped as tighter regulations to curb excessive speculation weighed though downside was limited on estimated fall in output
Chana output is estimated down 7.8% at 14.76 lakh tonnes in 2011-12 season vs 16 lakh tonnes in 2010-11.
NCDEX accredited warehouses chana stocks gained by 1655 tonnes to 72587 tonnes.
In Delhi spot market, chana fell down by -50 rupee to end at 4250 rupee per 100 kgs.
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Kedia Stocks and Commodities Pvt Ltd
18/May/2012 09:50 AM
Soybean trading range for the day is 3310-3408.
Soybean ended with good gains tracking gains in spot demand amid firm overseas demand.
The export of oil meals during April 2012 has declined by 22% to 400,427 tons as compared to 513,221 tons in April 2011
NCDEX accredited warehouses soyabean stocks dropped by 3517 tonnes to 70777 tonnes.
At the Indore spot market in top producer MP, soybean gained 21 Rs to 3392Re 100 kgs.
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Kedia Stocks and Commodities Pvt Ltd
18/May/2012 09:50 AM
Menthaoil spot is at 1630/-.Spot market is flat.
Mentha oil ended lower due to profit booking after prices gained along with firm export demand
The overall acreage is estimated to increase from 1.75 lakh ha to 2.1 lakh ha this year
Sowing of Mentha in Western UP is expected to increase by 30% as compared to last year
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Kedia Stocks and Commodities Pvt Ltd
18/May/2012 09:49 AM
Pepper trading range for the day is 37563-38503.
Pepper fell on subdued export demand as Vietnam stepped up supplies in the global market
Indian production expected lower due to adverse weather, lower acreage and a fall in productivity
NCDEX accredited warehouses pepper stocks dropped by 40 tonnes to 1591 tonnes.
Spot pepper gained 197.5 rupees to 37676.45 rupees per 100 kg in Kochi market.
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Kedia Stocks and Commodities Pvt Ltd
18/May/2012 09:49 AM
Nickel trading range for the day is 917.1-943.
Nickel gained despite concerns over Euro debt crisis, slower China's demand and fragile US economy weighed
Dollar rose and closed at 81.59 as Greece's and Spain's government bond yields are 28% and 6% respectively.
Fitch downgraded Greece’s rating to CCC from B-, reflecting the possibility of Greece exit from the euro zone
Warehouse stock for Nickel at LME was at 105564mt that is down by -66mt.
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Kedia Stocks and Commodities Pvt Ltd
18/May/2012 09:49 AM
Zinc trading range for the day is 101.7-105.2.
Zinc settled with positive node but traded under pressure as LME zinc prices overnight once touched USD 1,919.5/mt.
Fitch downgraded Greece’s rating to CCC from B-, reflecting the possibility of Greece exit from the euro zone
Dollar index is not expected to retreat in the short term, combined with the negative market outlook, US dollar index may rise further
Warehouse stock for Zinc at LME was at 940250mt that is down by -1825mt.
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Kedia Stocks and Commodities Pvt Ltd
18/May/2012 09:49 AM
Copper trading range for the day is 414.1-427.7.
Copper ended with a small gain created by bargain buying opportunities for investors.
Still sentiment remained vulnerable amid fears over a potential Greek exit from the euro zone.
Ongoing concerns over a ‘hard landing’ in China were also likely to weigh on the industrial metal.
Warehouse stock for Copper at LME was at 217450mt that is up by 2100mt.
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Kedia Stocks and Commodities Pvt Ltd
18/May/2012 09:48 AM
Crude trading range for the day is 4956-5144.
Crude oil traded in the range as support seen from renewed QE3 hopes and pressure from Philly Fed data.
Oil futures have been on a rapid decline since the uncertain outcome of the May 6 elections in Greece.
Rising Saudi and Libyan output and signs of slower US economic creating pressure on oil prices.
Crude is holding with a support at 4956 and resistance will be likely at 5144.
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Kedia Stocks and Commodities Pvt Ltd
18/May/2012 09:48 AM
Silver trading range for the day is 51163-54593.
Silver added gains as buying re-emerged amid growing concerns over the health of Spain’s banking sector.
Also support seen from renewed hopes for further easing from the Federal Reserve lent further support.
Holdings at ishares silver trust rose by 102.62 tonnes to 9619.02 tonnes.
Silver is trading below 50DMA, which is at 57075, with intraday support seen at 51163 and resistance at 54593.
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Kedia Stocks and Commodities Pvt Ltd
18/May/2012 09:48 AM
Gold trading range for the day is 27764-28980.
Gold rebound overnight was backed by bargain-hunting and technical buying.
Expectations of monetary stimulus tend to benefit gold as it is a safe store of value and inflation hedge.
SPDR gold trust holdings rose by 1.51 tonnes to 1278.11 tonnes.
Gold is trading below 50DMA, which is at 28614, now intraday gold is holding support at 27764 and resistance at 28980.
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