Turmeric futures (Apr) is expected to face resistance near 6310 levels.
CAPITALSTARS INVESTMENT ADVISOR
In days to come, we may see fewer business
activities on the spot markets as on account of Mariamman festival, all the turmeric markets will be closed for nine days from
Saturday the 30th March to April 7th. Beforehand last week, the buyer traders have purchased all the good quality turmeric for their
demand and some traders have decided to store few bags of best quality turmeric. Also, the stockiest are very cautious in buying
the turmeric as they feel at present the price may not be improved. On the supply side, the arrival for Erode markets is very low
when compared to very heavy arrival of turmeric at Nizamabad. At present Mysore and Dharmapuri turmeric is arriving for sale.
Jeera futures (Apr) will possibly take support near 15570 levels. This rally is getting fueled by prospects that India's jeera exports in
2018-19 (Apr-Mar) are estimated to rise 4.4% to about 150,000 tn. The fall in output in Syria and Turkey on account of loss of
quality due to weather adversities will possibly make India the sole supplier in the international market. So far this quarter, most
export deals for Indian jeera have been struck in a range of $2,000-$2,100 per tn. Coriander futures (Apr) is in overbought zone,
but regardless it will possibly maintain its upside bias & test 6955 levels. The reason being is because of strong demand for the
new crop which is of superior quality. Arrivals of coriander with ideal moisture content of 8-10% have begun, and this had led to a
rise in demand.
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