Showing posts with label Bank Nifty Futures calls daily. Show all posts
Showing posts with label Bank Nifty Futures calls daily. Show all posts

Friday, 3 May 2019

CAPITALSTARS FRIDAY SOYBEAN FUTURES AGRI MARKET NEWS UPDATE 03 May 2019

Soybean futures (May) is expected to trade with a downside bias & move towards 3600-3560 levels.

  CAPITALSTARS INVESTMENT ADVISOR
The buying pace of stockiest and the millers are sluggish in the current scenario due to surplus imported veg oil stocks at domestic front along with bearish global market keeping the overall sentiments on lower end. A surge in the import of vegetable oils in India has prompted the domestic oilseed crushing and refining industry to cut operating capacity to a historic low in order to sustain in the business for future. On CBOT, The most active soybean futures slipped more than 2.5 percent for the week, set for the biggest weekly loss since August 2018. The dollar looked set to end the week with a firmer tone on Friday as markets scaled back bets on a U.S. rate cut, though much depends on what jobs data due later in the session says about the health of the economy and wages. Mustard futures (May) will probably remain stable taking support near 3710 levels. There is pick-up in demand from mustard meal exporters based on the talks that China will start importing Indian mustard meal in July, about eight months after it lifted a ban on mustard meal of Indian origin. Soy oil futures (May) may descend towards 732 levels, while CPO futures (May) may decline towards 514- 512. On the Bursa Malaysia Derivatives, Malaysian palm oil futures fell nearly 4 percent on Thursday evening to their lowest in almost five months, weighed down by weakness in U.S. soyoil prices on the Chicago Board of Trade and weak demand sentiment. Going ahead, palm oil is expected to fall more into a range of 1,967-1,989 ringgit per tonne.


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Wednesday, 24 April 2019

CAPITALSTARS WEDNESDAY SOYBEAN FUTURES AGRI MARKET NEWS UPDATE 24 APRIL 2019

Soybean futures (May) is giving a lower closing since past two weeks & hence the short covering may face resistance near 3750 levels.

 CAPITALSTARS INVESTMENT ADVISOR
The market participants are turning more bearish in this oilseed due to hopes of higher production in 2019-20 (Jul-Jun) following forecast of "near normal" monsoon. Secondly, the decline in soybean prices on Chicago Board of Trade is weighing on sentiments. The two countries have tentatively scheduled a fresh round of face-to-face trade talks, with negotiators aiming to hold a signing ceremony in late May or early June. Mustard futures (May) is likely to face resistance near 3810 & the upside may remain capped. The absence of demand for mustard meal from China & sluggish buying by NAFED is weighing on the sentiments. Soy oil futures (May) is likely trade sideways in the range of 735-740 levels. On the spot markets, weak availability and improved demand lifted soy oil. CPO futures (May) will remain trapped in the range of 541-546 levels. The rising vegetable oilimports are creating a supply pressure & have forced the oilseed crushing units and edible oil refineries to reduce their operating capacity steadily to below the sustainable level of 30%. There is less demand for the domestically produced oils, since the imported refined oil is cheaper. The share of refined oil in the overall import in March has sequentially risen steadily to & with profit margins narrowing for processing of CPO in domestic refineries, Indian processing units are focusing on import of more refined oil than crude oil. On the international market, Malaysian palm oil futures fell to their lowest in a week on Tuesday, their second straight day of losses as concerns persisted over high inventory levels in the world's second largest producer.



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Monday, 22 April 2019

CAPITALSTARS MONDAY TURMERIC FUTURES AGRI MARKET NEWS UPDATE 22 APRIL 2019

Turmeric futures (May), consolidation with a downside bias can be seen in a broader range of 6300-6480.

 CAPITALSTARS INVESTMENT ADVISOR
 The sentiments of the market participants are not encouraging as the farmers are in a hurry to sell their produces since the spot prices are trading near to 3 months low. It is reported that nearly 80% of turmeric farmers of Nizamabad district are selling their crop had sold the crop as the yield is fetching them below Rs.7,000 a quintal, much below their cost of cultivating of Rs.8,000 per quintal. Taking advantage of the lower price, the traders are buying this yellow spice from Nizamabad & selling in the Sangli market, making a profit of at least Rs.2,000 per quintal. The bull-run is likely to prevail in jeera futures (May) and in days to come it may test 17100 levels. The increase is attributed to peak in export demand. March and April are the prominent period for cumin exports from India. In the present scenario, we are witnessing a shift in demand to India as output in major producers Syria and Turkey is seen lower. Shortages in the international market have given the Indian exporters an edge to become the sole suppliers & become a price setter. Coriander futures (May) is trapped in the range of 7050-7250 since past two weeks. This commodity is seeing selling pressure from higher levels, while on the contrary also witnessing buying on dips. However, the overall bias is positive amidst due to concerns of output & the supply constraints may drive the counter to 7400, as soon as it breaches 7300 levels.



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CAPITALSTARS MONDAY COTTON FUTURES AGRI MARKET NEWS UPDATE 22 APRIL 2019

Cotton futures (Apr) is expected to hover range bound within 22050-22350 levels.

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Restricted arrivals are slowing down the pace of overseas demand due to which cotton exports from the country are pegged at 47 lakh bales (one bale weighs 170kg) in 2018-19, which is the lowest since 2009-10. Chana futures (May) may trade with a negative bias & selling from higher levels near 4570 may bring the counter down to 4430. The expectation of country importing more pulses & lack of demand in the spot markets due to absence of bulk buying will exert pressure on pulses in days to come. Recently, the Commerce Ministry has laid down a procedure for import of 2 lakh tonnes of pigeon peas/ toor dal, 1.5 lakh tonnes urad dal, 1.5 lakh tonnes moong dal and 1.5 lakh tonnes peas (including yellow peas, green peas, dun peas, and kaspa peas) for the current fiscal and has invited applications from millers. We may see more downside in guar seed & guar gum futures (May) as it may test 4290-4250 & 8600- 8550 respectively. The reason for this bearishness is the forecast of good monsoon & guar being a rain-fed crop, this is a major negative factors for the prices. The Australian Bureau of Meteorology (BoM) has updated that El Nino would be short-lived and weak. This forecast is supporting the India Met Department (IMD) outlook that monsoon would be close to normal. The BoM has also mentioned that the Indian Ocean Dipole (IOD) could possibly turn into a positive phase during June to November, giving way to a healthy Indian monsoon. 



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Tuesday, 9 April 2019

CAPITALSTARS TUESDAY COTTON FUTURES AGRI MARKET NEWS UPDATE 09 APRIL 2019

Cotton futures (Apr) trading near its two months high is expected to see lengthier gains as it might touch22600 levels.

     
 CAPITALSTARS INVESTMENT ADVISOR
The main reasons behind this tall rally are sharp decline in market arrivals & the estimate that meagre 55-60 lakh bales are left with farmers across the country & there could be a shortage of some 32-33 lakh bales this season. On the international market, Cotton futures were 30 to 67 points higher in most contracts on Monday, helped by a weaker US dollar. Crude oil futures are the highest since November 1, supporting cotton via synthetics. NASS reported that US cotton was 6% planted as of Sunday in their Crop Progress report. That is 1% above the average but 1% behind the same week last year. Chana futures (May) is looking bullish & in may take support near 4440 levels on the back of shortages in supply. Anticipating that India's domestic stockpile of pulses could deplete to critical levels by the end of this year, the dal mills are picturing to build around two months of inventories from fresh pulses harvest coming in market. Presently, the arrivals of pulses are lesser as compared to a year ago on the in spot markets of Madhya Pradesh, Maharashtra and Rajasthan. Guar seed & Guar gum futures (May) together may take support near 4440 & 9040 levels respectively. The factor behind the bullishness in these commodities is the possibility of below normal rainfall. Skymet predicted that rainfall in the June-to-September monsoon season in India will be 93% of the Long Period Average (LPA), with an error margin of plus or minus 5%.The Pacific Ocean has become strongly warmer than average. The model projections call for 80% chance of El Nino during March-May, dropping to 60% for June to August, during the peak planting season of guar. 


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Friday, 15 March 2019

CAPITALSTARS FRIDAY SOYBEAN FUTURES AGRI MARKET NEWS UPDATE 15 MARCH 2019

Soybean futures (Apr) will possibly break the support near 3650 & descend further towards 3630-3600 levels.

While ref. soy oil futures (Apr) is likely to face resistance near 745 levels. On the spot markets, sluggish trend continued in the majority of oils in Indore mandis on weak physical demand and global cues with soy refined quoted at Rs.768-70 for 10 kg, while soy solvent ruled at Rs.735-40. CPO futures (Mar) is expected to move lower & test 518 levels. Malaysian palm oil futures fell for a seventh consecutive session on Thursday to a three-month low, as concerns over slowing demand and rising production dragged down the market. There was further pressure on prices as Europeans reduce consumption amid environmental concerns associated with the tropical product. There is ample supply of palm oil in consuming countries, both India and China, this is the reason the counter is reeling under pressure. In related oils, the Chicago soybean oil was down 0.2 percent and the most-active soyoil contract on the Dalian Commodity Exchange fell 1.4 percent. Mustard futures (Apr) is likely to breach the the support near 3800 levels & plunge towards 3780-3750 due to pressure of new arrivals. Amid rising arrivals and weak physical demand, mustard seeds and raida continued to trade low with mustard seeds prices in the physical market quoted at Rs.3,750-75 a quintal, while raida ruled at Rs.3,400.


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