Turmeric June futures Slipped on Wednesday (5:00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric is decreased by -2.01% to 5350 level at NCDEX.
Markets recovered moderately for Turmeric as it found some support at these levels but with good monsoon reports keeping prospects of better sowing this year, 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 (JUNE) OVERVIEW:
TREND: SIDEWAYS
RESISTANCE 2: 5520
RESISTANCE 1: 5440
SUPPORT 1: 5300
SUPPORT 2: 5260
STRATEGY: BUY ON DIPS
The NCDEX Soyabean June futures surged up by 1.67% in the last trading to close at 2746 level till Wednesday closing.
Talks of sufficient amount of inventory lying with stockists and reports of timely onset of soybean will be seen as bearish price drivers. Satisfactory report on the weather front also keeps sentiments soft these days. In coming weeks soybean prices shall tend to move lower as good number of deliveries will be in the market after the June expiry. The 2017-18 soybean ending stocks from the USDA’s May report came in at 480 million bushels, which was 88 million bushels below the pre-report analyst average..
CS SOYABEAN (JUNE) OVERVIEW:
TREND: BULLISH
RESISTANCE 2:2820
RESISTANCE 1:2780
SUPPORT 1: 2700
SUPPORT 2: 2660
STRATEGY: BUY ON DIPS
The NCDEX Guarseed June futures Slipped by -1.29% in the last trading to close at 3215 level till Wednesday closing.
Very high volatility was noted for Guar as rising export demand supported the prices at these lower levels. Prices however fell later on as IMD reported good Monsoon prospects again. Prospects of rains in Rajasthan in coming days may well limit the uptrend even as traders feel the current rates are on the lower side. Rains would be beneficial for the new crop sowing from next month. Pre-monsoon showers are likely to have good impact on crop sowing starting June.
CS GUARSEED (JUNE) OVERVIEW :
TREND: BEARISH
RESISTANCE 2: 3290
RESISTANCE 1: 3250
SUPPORT 1: 3180
SUPPORT 2: 3150
STRATEGY: SELL ON RISE
The NCDEX Dhaniya June futures Slipped by -1.69% in the last trading to close at 4599 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 (JUNE) OVERVIEW:
TREND: SIDEWAYS
RESISTANCE 2: 4720
RESISTANCE 1: 4660
SUPPORT 1: 4560
SUPPORT 2: 4520
STRATEGY: SELL ON RISE
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