Intraday Trading Tips

Crude trading range for the day is 4620-4908. Crude oil fell hitting a six week low, as Greek default worries and US demand concerns.  Oil traders continue to watch Iranian and Sudanese tensions very closely due to supply disruption concerns. Banking transactions with Iran and financing for its oil shipments could come under tougher scrutiny.

Intraday tips for copper trading range for the day is 405.7-421.3. Copper down amid uncertainty surrounding talks between Greece and its private creditors. Chinese importers slowed purchases of copper in recent days, as the industrial metal’s rise.   Copper prices were underpinned by a disruption to global supplies after workers at Canadian mine went on strike.

Zinc trading range for the day is 100.52-105.92. Zinc settled -2.05% down as markets remained cautious before the release of US non-farm payrolls due Friday. Bulgaria's second-largest zinc smelter, hopes to raise its zinc output this year when it plans to launch a new zinc facility.  Fed said there were signs of improvement in the US economy cutting long-term deficit at the same time.

Nickel trading range for the day is 1000.97-1061. Nickel settled -1.53% tracking LME nickel closed at USD 20,900/mt, down by USD 136/mt. BHP Billiton plans to reduce mine production by 30% at its Mt Keith nickel mine in Western Australia.  Bernanke expressed frustration at the slow pace of economic recovery.

Mentha oil trading range for the day is 1565.7-1607.5. Menthaoil spot is at 1675/-.Spot market is up by Rs.23/-. Mentha oil settled gained as good demand from International markets and domestic markets supported prices. The total arrivals stood steady at 350-400 drums. On 1st February total stock of mentha oil at Commodity Tips -monitored warehouses at Chandausi was 62,933 kg