Showing posts with label Bank nifty Futures Tips. Show all posts
Showing posts with label Bank nifty Futures Tips. Show all posts

Monday, 1 April 2019

CAPITALSTARS MONDAY SOYBEAN FUTURES AGRI MARKET NEWS UPDATE 01 APRIL 2019

A consolidation can be seen in soybean futures (Apr) in the bandwidth of 3650-3710 levels.

CAPITALSTARS INVESTMENT ADVISOR
The spread between mustard seed and soybean has dropped significantly in last couple of weeks, making mustard seed more preferential to purchase. During the start of the second week of this month, mustard seed prices were on premium of Rs.225 per quintal compared to soybean price & now it is reduced to Rs.90 per quintal due to surplus mustard stock arrivals, thus making it more attractive oilseed commodity for the buyers. We may see more correction in soy oil futures (Apr) as it can run down to 725 levels. Being a price taker from the international market, it is following the bearish trend of soy oil on CBOT, trading near its two month low of 28.82 cents per pound. In days to come, more selling more may be seen in CPO futures (Apr) & if it breaks the support at 524, then 520 will be achieved. This edible oil counter is facing a double whammy of rising inventories in the international market & promotion of ‘palm oil free’ certification in the world food market, hurting its demand. Mustard futures (Apr) is expected to trade with an upside bias towards 3770 levels, taking support in the range of 3735 levels. The demand from crushers at current price levels is likely to improve, as the crush margin pace has gone up. In news, The Haryana State Co-operative Supply and Marketing Federation Limited (HAFED) has decided to procure mustard crop directly from farmers from March 28 to May 10 limiting the role of commission agents (arthiyas) in grain markets.  

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Thursday, 14 March 2019

CAPITALSTARS THURSDAY SOYBEAN FUTURES AGRI MARKET NEWS UPDATE 14 MARCH 2019

Soybean futures (Apr) will possibly face resistance near 3710 levels. While ref. soy oil futures (Apr) is likely to face resistance near 745 levels.

On the spot markets, sluggish trend continued in soy oil and soybean on weak global cues and physical demand. Surging temperature and hot climate across all India is keeping the edible oil demand at lower end. March to May is generally low consumption phase for edible oil and thus that impact the price movement as well. There is still room left for CPO futures (Mar) to move lower & test 525-522 levels. Malaysian palm oilfutures slid for a sixth consecutive session on Wednesday to their lowest in three months on pressure from expectations of lower demand in top importer India and rising domestic production. The benchmark third-month palm oil contract on the Bursa Malaysia Derivatives Exchange finished down 1.3 per cent at 2,089 ringgit a tonne. Earlier in the session, the market hit its weakest since mid-December at 2,070 ringgit a tonne. In related oils, Chicago soybean oil was down 0.4pc and the most-active soyoil contract on the Dalian Commodity Exchange fell 1.3pc. Mustard futures (Apr) is likely to retest the support again at 3810 levels due to pressure of new arrivals. New crop arrivals begin in February and gain momentum by March. Supply remains in full swing till May. In Physical front, the Alwar market was stagnant at previous day levels at Rs.3935 (vs. 3986 previous session) while Jaipur market was observed lower by 10 points near Rs.3923 (vs. 3933) per quintal.


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Tuesday, 5 March 2019

CAPITALSTARS TUESDAY COTTONFUTURES AGRI MARKET NEWS UPDATE 05 MARCH 2019

A consolidation can be seen in cotton futures (Mar) in the range of 20720-20920 levels


On the spot markets, cotton prices have softened, despite a lower crop, on weak demand from both yarn mills and overseas markets. From the total 330 lakh bales of crop, cotton farmers have brought 50% & the balance will be bringing into the markets over the next couple of months. On the demand side, the cotton export from the country is expected to slow down in coming months due to comparatively higher domestic prices than the world. On the international market, market participant’s activity in cotton continues to be handcuffed by the U.S-China trade dispute. Chana futures (Mar) will possibly face resistance near 4145 levels amid slackened physical trade activity, ongoing new arrivals. Sentiments are weak due to rise in selling of chana by the NAFED. The latest report on Nafed sale report of Chana Procured under PSS during Rabi-18 season as on 27 February, 2019 shows that the total procured Qty. (Net) is 27,24,051.17 MT, progressive quantity sold is 7,81,115.16 MT, leaving a surplus of 19,42,936.01 MT. Mentha oil (Mar) is expected to hold above 1590 levels on reports of delayed sowing in the major growing regions due to the ongoing weather disturbances. As per reports, farmers are worried as untimely rains and inclement weather conditions may affect the crop yield. The market participants are holding on to the optimistic view that prices of mentha oil should rise because of demand from local consumers due to falling stocks of the previous crop. The new crop of mentha oil is likely to hit markets by June.


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Wednesday, 27 February 2019

CAPITALSTARS WEDNESDAY SOYBEAN FUTURES AGRI MARKET NEWS UPDATE 27 FEB 2019

Soybean futures (Mar) may test 3650 levels on the downside.


       CapitalStars Investment Adviser.        
In physical market, demand from most of the millers and crushers remained subdued after the prices started hovering above the levels of Rs.3800 per quintal. Further, this oilseed is being imported mainly from some least-developed African countries which India has signed treaties for concessional or duty-free imports. The landed cost of imported soybean is Rs.3,500 per quintal. Ref. soy oil futures (Mar) is expected to test 757 levels on the downside. On the spot markets, Soy oil and bean traded low due to weak demand with soy refined being quoted at Rs.775-Rs.780 for 10 kg, while soy solvent ruled at Rs.740-Rs.745. CPO futures (Mar) is expected to trade sideways & consolidate in the range of 550-555 levels. Malaysian palm oil futures dropped over 1 percent at the close of trade on Tuesday, hitting their lowest levels in nearly six weeks, pressured by weaker soyoil prices and a forecast that February palm output will be higher than usual. The Chicago March soybean oil contract was last down 1 percent, as the rapidly advancing harvest in top exporter Brazil boosts global supplies. Mustard futures (Apr) is expected to remain below 3890 levels as the upside may remain capped owing to reports of higher production. India's mustard output in 2018-19 (Jul-Jun) is estimated at 8.5 mln tn, up 19% on year owing to better yield and favourable weather conditions according to Solvent Extractors Association of India. 




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Friday, 22 February 2019

CAPITALSTARS FRIDAY SOYBEAN FUTURES AGRI MARKET NEWS UPDATE 22 FEB 2019

Soybean futures (Mar) is likely to fall further to test 3705 levels. 


The initial estimates coming from the Soybean Processors’ Association (SOPA) shows that in the upcoming Kharif season output is likely to rise by a staggering 38% on a sharp increase in average yield across the country. India’s soybean output at 11.48 million tonnes this year compared to 8.3 million tonnes in the previous year on favourable climatic condition. This increase in production is being attributed to the major producing state in Madhya Pradesh wherein the yield is estimated to rise by 30.5% to 1,094 kg per ha for the current season from 838 kg from the previous season. The survey also highlighted that in Maharashtra output is estimated to rise by 32% to 3.84 million tonnes for this year from 2.91 million ha last year. Soy oil futures (Mar) is expected to trade sideways to up taking support near 765 levels. CPO futures (Mar) is expected to consolidate in the range of 569-575. Malaysian palm oil futures recovered from a one-month low on Thursday, tracking strength in U.S. soyoil and snapping two sessions of declines. In other related oils, the Chicago March soybean oil contract from 29.90 to 30.66 cents, almost a jump of 3%. Mustard futures (Apr) is likely to trade with a downside bias & test 3850 levels. Amid weakness in prices in the spot markets, the market participants are avoiding taking long positions. With likely increase in new crop arrivals pressure in next couple of weeks, mustard prices are likely to reel under pressure. 

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Monday, 11 June 2018

Mentha oil futures down on subdued demand.

CapitalStars Investment Adviser

Mentha oil futures were trading lower during the morning trade in the domestic market on Tuesday as investors and speculators cut down their positions in the agri-commodity amid muted physical demand for mentha oil from major consuming industries in the domestic spot market. Further exiting of bets by traders in the spot market was due to a fall in physical demand for mentha oil from consuming industries at the domestic spot market against sufficient stocks position on higher supplies from producing regions.
At the MCX mentha oil futures for June 2018 contract was trading at Rs 1142.50 per kg down by 2.33 per cent after opening at Rs 1155 against the previous closing price of Rs 1169.70. It touched the intra-day low of Rs 1142.
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