Friday 2 February 2018

CAPITALSTARS FREE AGRI COMMODITY MARKET NEWS & UPDATES - 02 FEB 2018

..Agri commodity calls, Agri Commodity Tips, Free  Commodity Tips, Free Agri Tips, Jeera Tips, MCX Tips Services, mentha oil tips, ncdex ref.soyaoil, Soyabean,

The NCDEX Turmeric Apr futures is slipped by -0.41% in the last trading to close at 7204 level till Thursday closing at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric on NCDEX settled down -2.76% at 7330 due to expectation of arrivals of new season crop. Currently supplies from the new season turmeric have been lower during first 15 days of Jan at 5,405 tonnes compared to 6,586 tonnes last year, as per data. The export of turmeric is down by 17% to 63,395 tonnes for the first 7 month of FY 2017/18 compared to last years’ exports. In Nizamabad, new crop arrivals stood 3,000 bags. There were also arrivals of 1,000 bags of old crop. Not much of demand is emerging in Turmeric as supplies are about to increase. New crop arrivals are increasing and prices are witnessing a lean patch now. The demand from the stockists is likely to be thin in coming days. Spot turmeric prices decreased at Erode markets as arrivals rose. Almost all the traders purchased quality turmeric without quoting a higher price.
TURMERIC (APR) TECHNICAL VIEW:
TREND: BEARISH
RESISTANCE 2: 7310
RESISTANCE 1: 7260
SUPPORT 1: 7140
SUPPORT 2:7080
STRATEGY: SELL ON RISE

The NCDEX Soyabean Feb futures slipped by -1.03% in the last trading to close at 3647 level till Thursday closing. Soybean kept trading firm on strong demand in mandis amidst firmness in International markets. Outlook for this month shall remain bullish. India’s harvest season, subdued export demand for soymeal and estimations of sufficient amount of inventory lying with stockists had been capping the upside just few months, back, but as parity in exporting Indian soymeal has re-established and harvest season nears completion, any sharp fall is ruled out. USDA’s recent supply-demand report was slightly bearish but that was already factored in by global trade participants therefore soybean and US soy complex traded with bullish mood yesterday. Technically NCDEX Feb soybean will tend to remain firm as long as finds support above 3210-3220 levels. As stated in the latest USDA report, U.S. oilseed production for 2017/18 is estimated at 131.3 million tons, down 0.9 million from last month.
SOYABEAN (FEB) TECHNICAL VIEW:
TREND: BEARISH
RESISTANCE 2: 3750
RESISTANCE 1: 3700
SUPPORT 1 : 3610
SUPPORT 2: 3570
STRATEGY: SELL ON RISE

The NCDEX Guarseed Feb futures is surged up by 1.13% in the last trading to close at 4664 level till Thursday closing. Guargum inched towards the 10,000 psychological mark as traders expect the exports to start rising at these levels with the recent firmness in Crude oil prices. Moving forward, guarseed is likely to touch at least 5000, while guar gum might see levels of 10000 or even above. Upward trend is expected in medium term also because of rising concerns on production front from recent crop losses, due to excess rains in Rajasthan, just few months back. Lowering inventories will be another bullish factor. The new crop arrivals shall drop further thereby offering further support. Increased exports of guar gum during last year have been encouraging due to increasing rig count in the US.
GUARSEED (FEB) TECHNICAL VIEW:
TREND: BULLISH
RESISTANCE 2: 4730
RESISTANCE 1: 4700
SUPPORT 1: 4610
SUPPORT 2 : 4560
STRATEGY: BUY ON DIPS

The NCDEX Jeera Feb futures surged up by 0.24% in the last trading to close at 16570 level on Thursday. Jeera on NCDEX settled down -0.3% at 16560 on fresh selling initiated by market participants pressured by the start of new season arrivals coupled with weak physical demand at higher prices. The arrivals are expected to pick up in next 15-20 days. Jeera production may be higher in coming season on reports of higher acreage of cumin in the current season. In Gujarat, Jeera acreage is up by 38% to 3.83 lakh hectares as on 15-Jan-18. Last year, it was 2.88 lakh ha at that same time. Moreover, good progress of jeera sowing in Gujarat pressurizes prices. As per government data, Jeera exports during first seven month of FY 2017/18 (Apr-Sep) is 88,229 tonnes, up 11% compared to last year exports volume for the same period. India's jeera exports in October increase by 37% on year to 10,402 tn.
JEERA (FEB) TECHNICAL VIEW:
TREND: BEARISH
RESISTANCE 2: 16800
RESISTANCE 1: 16700
SUPPORT 1: 16400
SUPPORT 2: 16300
STRATEGY: SELL ON RISE


Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

0 comments:

Post a Comment