CAPITALSTARS FRIDAY COTTON FUTURES AGRI MARKET NEWS UPDATE 01 MARCH 2019

Cotton futures (Mar) is likely to break 20000 levels & plunge further towards 19900.

          CapitalStars Investment Adviser.         

The fundamentals cite that the imports are subdued as the arrival season is at its peak and there is sufficient supply in the market. For the time being, Indian spinning mills await for clarity on market trend in the wake of uncertainties over the US-China trade talks and currency moves. In the international market, the weekly Export Sales report showed just 85,544 RB of old crop upland cotton sold in the week that ended on 2/21, with new crop at 12,056 RB. Those were well below the six-week average for sales released last week. China had 65,583 RB in net cancellations for old crop. Export shipments were up 44.88% from that 6-week average at 345,654 RB, with 21,254 RB to China. The Cotlook A Index was down 100 points on February 27 to 80.10 cents/lb. Chana futures (Mar) is likely to test 4050-4030 levels on the downside. The sentiments are bearish due to weak trend of pulses in the spot markets. Amid subdued demand and limited trading, the majority of pulse seeds in Indore mandis. The demand in chana dal and besan was sluggish from consumption centres. Sentiments are still weak due to availability of the government stock and the rise in selling of chana by the NAFED, especially in the states of Madhya Pradesh and Rajasthan. Mentha oil (Mar) is likely to witness selling facing resistance near 1640 levels. The sowing of the crop has started towards the end of last month, and with couple of weeks passing by the initial estimates are showing up that production of mentha oil is expected to rise to 48,000-50,000 tons in 2019 from 33,000-35,000 tons last year. 

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

Equity Tips , Intraday Stock Tips , FreeTrading Tips  , Sebi Registered advisory Company , Capitalstars Video Gallery,Free Trading tips , equity Tips , sebi registered advisory company , Mcx Tips  .