Turmeric July futures Surged up on Wednesday (5:00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric is increased by 3.02% to 5740 level at NCDEX.
Falling stocks amidst reports of improving demand in the mandis supported turmeric prices, which have fallen a lot over last few months. However, good monsoon reports kept prospects of better sowing this year and the uptrend was limited. With rates at very low levels, further downtrend may be limited. However favorable monsoon reports amidst high stocks and lack of strong demand kept the uptrend limited. With sowing starting in June, early arrivals and better prospects for rains could be good for the crop sowing. As of now trend looks weak.
CS TURMERIC (JULY) OVERVIEW:
TREND: BULLISH
RESISTANCE 2: 5890
RESISTANCE 1: 5820
SUPPORT 1: 5620
SUPPORT 2: 5510
STRATEGY: BUY ON DIPS
The NCDEX Soyabean July futures surged up by 1.43% in the last trading to close at 2830 level till Wednesday closing.
Farmers' strikes in India's top soybean producing state of Madhya Pradesh over the last two weeks have created uncertainties about supply, causing volatility in prices and helped futures in recovering from lower levels in recent sessions. The strike can continue for some more time hence further gains expected in short term. The World Agricultural Supply and Demand Estimates (WASDE) report from the Department of Agriculture had made few changes like raising forecasts for soybean inventories..
CS SOYABEAN (JULY) OVERVIEW:
TREND: BULLISH
RESISTANCE 2: 2870
RESISTANCE 1: 2850
SUPPORT 1: 2790
SUPPORT 2: 2760
STRATEGY: BUY ON DIPS
The NCDEX Guarseed July futures Surged up by 2.83% in the last trading to close at 3485 level till Wednesday closing.
Prospects of rains in growing regions in Rajasthan in coming days can keep uptrend limited with chances of better sowing if monsoon rains arrive on time and remains good. Traders do feel however the current rates are on the lower side, therefore selling might reduce at current levels. Rains would be beneficial for the new crop sowing. Rates found strong psychological support at the 7000 mark as moderate bounce backs were noted for Guar rates. Prospects of early arrival and normal monsoon reports too pressurized sentiments for Guar which is highly sensitive to Monsoon rains.
CS GUARSEED (JULY) OVERVIEW :
TREND: BULLISH
RESISTANCE 2: 3550
RESISTANCE 1: 3520
SUPPORT 1: 3420
SUPPORT 2: 3360
STRATEGY: BUY ON DIPS
The NCDEX Dhaniya July futures Surged up by 3.80% in the last trading to close at 5050 level on Wednesday.
After a 1-sided increase in the beginning of apl, there is a huge decline in the coriander's market. on the commodity exchange NCDEX the price of coriander has dropped has by around 1,500 RPs in a month. in the beginning of April, coriander price for near future trading on NCDEX 7900 per quintal, but now the price has come down to RS 6450. in march , the price of coriander touched a low of RS 6410. Which was lowest price in about 13 months. There has been pressure of coriander due year ending stock and week export demand. however this year's production is being reported less last year. Price have not able to keep pace with heavy stock.
CS DHANIYA (JULY) OVERVIEW:
TREND: BULLISH
RESISTANCE 2: 5160
RESISTANCE 1: 5100
SUPPORT 1: 4940
SUPPORT 2: 4840
STRATEGY: BUY ON DIPS
Get real time advice from Our Best Advisory - Capitalstars
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