 |
Turmeric futures (April) is expected to trade sideways in the range of 6460-6660 levels. Due to lack of upcountry demand and arrival of medium quality turmeric prices were down at Erode. Good quality finger turmeric sold at Rs.8,200 a quintal. Finger turmeric was decreased by Rs.500 and root variety by Rs.300. At the Erode Turmeric Merchants Association Sales yard finger turmeric sold at
Rs.5,584-8,233, root variety at Rs.5,069-7139. The possibilities are higher that jeera futures (Jan) will break the weekly support near 18785 & descend towards 18600-18500. The buyers are awaiting the fresh crop and postponing purchases. Moreover, the sowing season is going on, will continue till mid of December and new jeera arrivals will begin from mid-February. The area under cultivation has been lagging in Gujarat, but farmers are optimistic on catching up the pace after the government has said that it will provide water from dams for irrigation purposes to farmers. On every rise, the stockiest are trying to sell the old produce before the entry of new crop on anticipation that the production could be higher than last season. Approximately, there are 10-12 lakh bags all over country. Coriander futures (Jan) may face resistance near 6795 levels & witness profit booking from higher levels. There are concerns over lower production but it seems that is mostly factored in already.
HAPPY TRADING!!!!!!!!!!!!!!!!!!
Click here to visit my website : https://bit.ly/1h8KZUM
Free Trial link : https://bit.ly/2u2GUhK
Any queries CALL US : 9977499927
CLICK HERE FOR GET DETAILS & JOIN OUR BEST ADVISORY -
Visit our website : http://www.capitalstars.com/free-trial
CAPITALSTARS CALL US : 9977499927
0 comments:
Post a Comment