CAPITALSTARS FRIDAY COTTON FUTURES AGRI MARKET NEWS UPDATE 05 APRIL 2019

Cotton futures (Apr) is likely to looking bullish and it will possibly head towards 22300 levels. 

CAPITALSTARS INVESTMENT ADVISOR

Cotton prices continued their upward march in Central and South India, supported by firm demand from mills and traders against tight supply. There has been a sharp decline in market arrivals in recent weeks. Buyers also remained more active as lower monsoon forecast for this year has raised concerns over production. While sellers continued to remain silent at existing levels expecting further rise in prices. On the international market, Cotton futures were steady to 27 points higher on Thursday, supported by good export sales data. A stronger US dollar index limited the gains. Chana futures (Apr) is expected to trade sideways in the range of 4390-4490 levels. Chana prices traded higher at major markets in the country owing to millers buying. Moreover, Weak availability and stoppage of NAFED selling chana have lifted prices by Rs.300 in the past one week with chana (kanta) rising to Rs.4,350-4,400 a quintal, while chana (vishal) ruled at Rs.4,1200-4,400 and chana (desi) at Rs.4,300. Guar seed as well as Guar gum futures (Apr) are looking bullish as they are expected to take support near 4365 & 8850 levels respectively. Coming to the fundamentals of guar, it is being anticipated that exports of the guar gum are likely to be higher in 2018-19. The demand for guar gum has started to rise as a hydraulic fracturing agent after crude oil prices are trading near its 3-month high levels. The market participants are optimistic about more orders to come from the food processing sector. In latest news, a newer guar gum product has been developed & approved for large scale production of potash fertilizers to increase its stability providing better conditioning. It is reported that orders have been received for this new product & these orders are expected to execute during financial year 2019-20.

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  .