Cotton futures (Mar) may trade with a positive bias. Globally, the benchmark May contract on ICE futures US settled higher by 0.5 percent to 75.65 cents per lb on Tuesday amid technical buying.
The prices are expected to trade higher due
to lower production estimates and lower arrival in the markets. The market participants are waiting on the clarity of the export
demand, after a news came out that the proposed summit between U.S. President Donald Trump and China's Xi Jinping to end the
ongoing trade conflict between the world's two largest economies may be pushed back to June. Bloomberg reports that U.S.
officials are concerned China is pushing back against American demands in trade talks. Chana futures (Apr) is expected to take
support near 4200 levels & remain steady. The positive factor which may lift the sentiments is that the festival demand for chana
ahead of Holi. The Besan or Gram flour is used in making a variety of savoury and sweet dishes. Mentha oil (Mar) is likely to take
support above 1625 levels & trade with an upside bias. The overall sentiments are still bullish as demand from both domestic and
export fronts are emerging at existing price levels. While, the major producing belts of Chandausi in Uttar Pradesh are witnessing
lower arrivals as farmers are holding back their produce anticipating rise in prices ahead.
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