Turmeric April
futures traded on a Sipped on Monday (5.00pm) at India's National Commodity
& Derivatives Exchange (NCDEX). Turmeric spice decreased by -4.00% to 10144
level at NCDEX. No strong movement was noted for Turmeric as lack of strong
demand kept uptrend limited. Traders expect the export and domestic demand to
rise. But prospects of rising new crop arrivals in coming weeks may limit the
uptrend also. In Telangana, the turmeric crop is at vegetative to flowering
stage, sources said that due to recent rainfall in Tamil Nadu.
TURMERIC (APRIL)
TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 10830,
RESISTANCE 1:
10480,
SUPPORT 1: 9970,
SUPPORT 2: 9800.
STRATEGY: SELL ON RISE
The NCDEX Soya
bean January futures Surged up by 1.080% in the last trading to close at 3833
level till Monday closing. The broader term price outlook is not so bearish
considering lower production prospects for year 2015-16. Poor soybean yields in
India prompted the USDA to lower its 2015/16 crop forecast by 1.5 MT this month
to 9.5 million. Since production of a record 2012/13 harvest at 12.2 MT, Indian
soybean crops have been beset by a succession of unfavorable growing
conditions. Monsoon rains in Aug decreased for the top production regions.
SOYABEAN
(JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BULLISH
RESISTANCE 2:3920,
RESISTANCE
1:3875,
SUPPORT 1: 3800,
SUPPORT 2: 3770.
STRATEGY: BUY ON DIPS
Chana futures
traded on a positive note increased demand on Monday (5.00PM). Chana May l
contract gained 1.46% to 4899 levels. Firm trend persisted for Chana on reports
of Govt purchase and rising domestic demand amidst lower stocks in mandis. The
uptrend got limited on prospects of rains in MP in coming days as that could
have beneficial impact on sowing. Persistent concerns regarding government’s
continuous efforts to keep price rise in check too kept rising rates under
check as prices hovered near the 5000 mark.
CHANA (JANUARY)
TECHNICAL VIEW:
TREND: MIXED TO BULLISH
RESISTANCE 2: 4970,
RESISTANCE 1:4930,
SUPPORT 1: 4855,
SUPPORT 2: 4810.
STRATEGY: BUY ON DIPS
The NCDEX
Dhaniya January futures Surged up by 0.23% in the last trading to close at 8561
level on Monday Special Margin of 10% (in cash) on the Long side will be
imposed on all running contracts and yet to be launched contracts in Coriander
(DHANIYA) with effect from beginning of day Wednesday, June 03, 2015.
DHANIYA
(JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 8960,
RESISTANCE 1: 8760,
SUPPORT 1: 8400,
SUPPORT 2: 8240.
STRATEGY: SELL ON RISE
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After cues from global markets have seen a rise in gold prices today. On Monday, gold rose by Rs 70 to Rs 25,600 per ten gram level is reached.
ReplyDeleteGlobal markets have seen gains in gold prices. International market, gold rose 0.4 percent to $ 1070.36 per ounce level is reached. According to traders, investors are looking for signs of growth in a row by the Federal Reserve next and now a sharp increase in rates on signs does not rise in gold prices is seeing.
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