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CS TURMERIC (APRIL) OVERVIEW:
TREND MIXED TO BEARISH
RESIST 2:7050
RESIST 1:6950
SUP1:6650
SUP2:6450
STRATEGY: SELL ON RISE
CS SOYABEAN ( JANUARY ) OVERVIEW:
TREND MIXED TO BEARISH
RESIST 2:3130
RESIST 1:3090
SUP1:3000
SUP2:2970
STRATEGY: SELL ON RISE
CS GARUSEED ( JANUARY ) OVERVIEW:
TREND MIXED TO BEARISH
RESIST 2:3375
RESIST 1:3320
SUP1: 3190
SUP2:3150
STRATEGY: SELL ON RISE
CS DHANIYA ( JANUARY ) OVERVIEW:
TREND MIXED TO BEARISH
RESIST 2: 7850
RESIST 1: 7750
SUP1:7500
SUP2:7400
STRATEGY: SELL ON RISE
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Turmeric April futures traded on a slipped Friday (5.00pm) at India's National Commodity &
Derivatives Exchange (NCDEX). Turmeric spiced by -0.68% to 7000 level at NCDEX.
Moderate firm trend persisted for Turmeric even as low volumes were noted in the futures
market. Overall trend remained firm however for the medium term on falling stocks as demand
is expected to recover after some more corrections in prices New crop arrivals are still far away
from Dec onwards, and this could keep overall market sentiments bullish for the time being.
TURMERIC (APRIL) TECHNICAL VIEW:
TREND:MIXED TO BEARISH
RESISTANCE 2: 7200,
RESISTANCE 1: 7050,
SUPPORT 1: 6950,
SUPPORT 2: 6900.
STRATEGY: SELL ON RISE
The NCDEX Soyabean Jan futures slipped by -0.97% in the last trading to close at 3050 level till
Friday closing.
Domestic market was supported from news of US soybean export picking up, in addition to
renewed buying interest against lower price levels. News of stock limits being eased by the
Maharashtra government added to the positive tone. The Government of Maharashtra has
announced on Monday to cancel buying limits which implies that now plants shall be prompted
to buy in bulk quantities when needed. This will be supportive for prices in coming days.
SOYABEAN (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2:3130,
RESISTANCE 1:3100,
SUPPORT 1: 3030,
SUPPORT 2: 3000.
STRATEGY: SELL ON RISE
Guarseed futures traded on a Negative note decreased demand on Friday (5.00PM). Gaurseed
Jan contract lost -1.98% to 3261 levels.
Firm trend was noted for Guar even as profit booking set in at the higher levels. With exports
slowly picking up for the new crop amidst firm Dollar vs Rupee, falling stocks and the present
low rates added to the bullish sentiments. Fundamentals remain slight firm with falling stocks in
domestic and International markets.
GAURSEED (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 3400,
RESISTANCE 1:3330,
SUPPORT 1: 3220,
SUPPORT 2: 3190.
STRATEGY: SELL ON RISE
The NCDEX Dhaniya Jan futures surged up by 0.85% in the last trading to close at 7734 level on
Friday.
Coriander futures edged higher on NCDEX as speculators enlarged their holdings on the back of
improved demand at the spot market. Further, restricted arrivals from major growing regions
also added support to coriander prices’ uptrend.
DHANIYA (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 7850,
RESISTANCE 1: 7800,
SUPPORT 1: 7500,
SUPPORT 2: 7450.
STRATEGY: SELL ON RISE
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Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA00000164
Turmeric April futures traded on a slipped Thursday (5.00pm) at India's National Commodity &
Derivatives Exchange (NCDEX). Turmeric spiced by -1.97% to 7048 level at NCDEX.
Moderate firm trend persisted for Turmeric even as low volumes were noted in the futures
market. Overall trend remained firm however for the medium term on falling stocks as demand
is expected to recover after some more corrections in prices New crop arrivals are still far away
from Dec onwards, and this could keep overall market sentiments bullish for the time being.
TURMERIC (APRIL) TECHNICAL VIEW:
TREND:MIXED TO BEARISH
RESISTANCE 2: 7250,
RESISTANCE 1: 7150,
SUPPORT 1: 6970,
SUPPORT 2: 6900.
STRATEGY: SELL ON RISE
The NCDEX Soyabean Jan futures slipped by -0.26% in the last trading to close at 3082 level till
Thursday closing.
Domestic market was supported from news of US soybean export picking up, in addition to
renewed buying interest against lower price levels. News of stock limits being eased by the
Maharashtra government added to the positive tone. The Government of Maharashtra has
announced on Monday to cancel buying limits which implies that now plants shall be prompted
to buy in bulk quantities when needed. This will be supportive for prices in coming days.
SOYABEAN (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2:3160,
RESISTANCE 1:3130,
SUPPORT 1: 3060,
SUPPORT 2: 3030.
STRATEGY: SELL ON RISE
Guarseed futures traded on a Negative note decreased demand on Thursday (5.00PM).
Gaurseed Jan contract lost -0.15% to 3325 levels.
Firm trend was noted for Guar even as profit booking set in at the higher levels. With exports
slowly picking up for the new crop amidst firm Dollar vs Rupee, falling stocks and the present
low rates added to the bullish sentiments. Fundamentals remain slight firm with falling stocks in
domestic and International markets.
GAURSEED (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 3400,
RESISTANCE 1:3370,
SUPPORT 1: 3300,
SUPPORT 2: 3270.
STRATEGY: SELL ON RISE
The NCDEX Dhaniya Jan futures slipped by -2.46% in the last trading to close at 7650 level on
Thursday.
Coriander futures edged higher on NCDEX as speculators enlarged their holdings on the back of
improved demand at the spot market. Further, restricted arrivals from major growing regions
also added support to coriander prices’ uptrend.
DHANIYA (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 7850,
RESISTANCE 1: 7750,
SUPPORT 1: 7600,
SUPPORT 2: 7480.
STRATEGY: SELL ON RISE
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CapitalStars Investment Adviser: SEBI Registration Number: INA00000164
Turmeric April futures traded on a slipped Wednesday (5.00pm) at India's National Commodity
& Derivatives Exchange (NCDEX). Turmeric spiced by -0.22% to 7174 level at NCDEX.
Moderate firm trend persisted for Turmeric even as low volumes were noted in the futures
market. Overall trend remained firm however for the medium term on falling stocks as demand
is expected to recover after some more corrections in prices New crop arrivals are still far away
from Dec onwards, and this could keep overall market sentiments bullish for the time being.
TURMERIC (APRIL) TECHNICAL VIEW:
TREND:MIXED TO BULLISH
RESISTANCE 2: 7320,
RESISTANCE 1: 7220,
SUPPORT 1: 7120,
SUPPORT 2: 7000.
STRATEGY: BUY ON DIPS
The NCDEX Soyabean Jan futures surged up by 0.78% in the last trading to close at 3093 level
till Wednesday closing.
Domestic market was supported from news of US soybean export picking up, in addition to
renewed buying interest against lower price levels. News of stock limits being eased by the
Maharashtra government added to the positive tone. The Government of Maharashtra has
announced on Monday to cancel buying limits which implies that now plants shall be prompted
to buy in bulk quantities when needed. This will be supportive for prices in coming days.
SOYABEAN (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BULLISH
RESISTANCE 2:3160,
RESISTANCE 1:3130,
SUPPORT 1: 3060,
SUPPORT 2: 3000.
STRATEGY: BUY ON DIPS
Guarseed futures traded on a Negative note decreased demand on Wednesday (5.00PM).
Gaurseed Jan contract lost -0.83% to 3331 levels.
Firm trend was noted for Guar even as profit booking set in at the higher levels. With exports
slowly picking up for the new crop amidst firm Dollar vs Rupee, falling stocks and the present
low rates added to the bullish sentiments. Fundamentals remain slight firm with falling stocks in
domestic and International markets.
GAURSEED (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 3380,
RESISTANCE 1:3350,
SUPPORT 1: 3300,
SUPPORT 2: 3270.
STRATEGY: SELL ON RISE
The NCDEX Dhaniya Jan futures slipped by -1.01% in the last trading to close at 7822 level on
Wednesday.
Coriander futures edged higher on NCDEX as speculators enlarged their holdings on the back of
improved demand at the spot market. Further, restricted arrivals from major growing regions
also added support to coriander prices’ uptrend.
DHANIYA (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 8000,
RESISTANCE 1: 7900,
SUPPORT 1: 7750,
SUPPORT 2: 7650.
STRATEGY: SELL ON RISE
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Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA00000164
Turmeric April futures traded on a surged up Tuesday (5.00pm) at India's National Commodity
& Derivatives Exchange (NCDEX). Turmeric spiced by 0.56% to 7192 level at NCDEX.
Moderate firm trend persisted for Turmeric even as low volumes were noted in the futures
market. Overall trend remained firm however for the medium term on falling stocks as demand
is expected to recover after some more corrections in prices New crop arrivals are still far away
from Dec onwards, and this could keep overall market sentiments bullish for the time being.
TURMERIC (APRIL) TECHNICAL VIEW:
TREND:MIXED TO BULLISH
RESISTANCE 2: 7380,
RESISTANCE 1: 7300,
SUPPORT 1: 7000,
SUPPORT 2: 6950.
STRATEGY: BUY ON DIPS
The NCDEX Soyabean Jan futures surged up by 0.56% in the last trading to close at 3071 level
till Tuesday closing.
Domestic market was supported from news of US soybean export picking up, in addition to
renewed buying interest against lower price levels. News of stock limits being eased by the
Maharashtra government added to the positive tone. The Government of Maharashtra has
announced on Monday to cancel buying limits which implies that now plants shall be prompted
to buy in bulk quantities when needed. This will be supportive for prices in coming days.
SOYABEAN (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BULLISH
RESISTANCE 2:3160,
RESISTANCE 1:3130,
SUPPORT 1: 3050,
SUPPORT 2: 3000.
STRATEGY: BUY ON DIPS
Guarseed futures traded on a Positive note increased demand on Tuesday (5.00PM). Gaurseed
Jan contract gained 0.03% to 3310 levels.
Firm trend was noted for Guar even as profit booking set in at the higher levels. With exports
slowly picking up for the new crop amidst firm Dollar vs Rupee, falling stocks and the present
low rates added to the bullish sentiments. Fundamentals remain slight firm with falling stocks in
domestic and International markets.
GAURSEED (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BULLISH
RESISTANCE 2: 3440,
RESISTANCE 1:3400,
SUPPORT 1: 3300,
SUPPORT 2: 3270.
STRATEGY: BUY ON DIPS
The NCDEX Dhaniya Jan futures slipped by -0.21% in the last trading to close at 7920 level on
Tuesday.
Coriander futures edged higher on NCDEX as speculators enlarged their holdings on the back of
improved demand at the spot market. Further, restricted arrivals from major growing regions
also added support to coriander prices’ uptrend.
DHANIYA (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 8100,
RESISTANCE 1: 8000,
SUPPORT 1: 7850,
SUPPORT 2: 7770.
STRATEGY: SELL ON RISE
Get real time advice from Our Best Advisory - Capitalstars
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA00000164
Turmeric April futures traded on a surged up Thursday (5.00pm) at India's National Commodity
& Derivatives Exchange (NCDEX). Turmeric spiced by 0.48% to 7102 level at NCDEX.
Moderate firm trend persisted for Turmeric even as low volumes were noted in the futures
market. Overall trend remained firm however for the medium term on falling stocks as demand
is expected to recover after some more corrections in prices New crop arrivals are still far away
from Dec onwards, and this could keep overall market sentiments bullish for the time being.
TURMERIC (APRIL) TECHNICAL VIEW:
TREND:MIXED TO BULLISH
RESISTANCE 2: 7300,
RESISTANCE 1: 7150,
SUPPORT 1: 7000,
SUPPORT 2: 6950.
STRATEGY: BUY ON DIPS
The NCDEX Soyabean Jan futures slipped by -1.03% in the last trading to close at 3063 level till
Thursday closing.
Domestic market was supported from news of US soybean export picking up, in addition to
renewed buying interest against lower price levels. News of stock limits being eased by the
Maharashtra government added to the positive tone. The Government of Maharashtra has
announced on Monday to cancel buying limits which implies that now plants shall be prompted
to buy in bulk quantities when needed. This will be supportive for prices in coming days.
SOYABEAN (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2:3135,
RESISTANCE 1:3100,
SUPPORT 1: 3050,
SUPPORT 2: 3000.
STRATEGY: SELL ON RISE
Guarseed futures traded on a Positive note increased demand on Thursday (5.00PM). Gaurseed
Jan contract gained 0.03% to 3310 levels.
Firm trend was noted for Guar even as profit booking set in at the higher levels. With exports
slowly picking up for the new crop amidst firm Dollar vs Rupee, falling stocks and the present
low rates added to the bullish sentiments. Fundamentals remain slight firm with falling stocks in
domestic and International markets.
GAURSEED (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 3400,
RESISTANCE 1:3330,
SUPPORT 1: 3270,
SUPPORT 2: 3230.
STRATEGY: SELL ON RISE
The NCDEX Dhaniya Jan futures slipped by -0.35% in the last trading to close at 7914 level on
Thursday.
Coriander futures edged higher on NCDEX as speculators enlarged their holdings on the back of
improved demand at the spot market. Further, restricted arrivals from major growing regions
also added support to coriander prices’ uptrend.
DHANIYA (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 8100,
RESISTANCE 1: 8050,
SUPPORT 1: 7850,
SUPPORT 2: 7750.
STRATEGY: SELL ON RISE
Get real time advice from Our Best Advisory - Capitalstars
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA00000164
Turmeric April futures traded on a surged up Wednesday (5.00pm) at India's National
Commodity & Derivatives Exchange (NCDEX). Turmeric spiced by 1.11% to 7078 level at NCDEX.
Moderate firm trend persisted for Turmeric even as low volumes were noted in the futures
market. Overall trend remained firm however for the medium term on falling stocks as demand
is expected to recover after some more corrections in prices New crop arrivals are still far away
from Dec onwards, and this could keep overall market sentiments bullish for the time being.
TURMERIC (APRIL) TECHNICAL VIEW:
TREND:MIXED TO BULLISH
RESISTANCE 2: 7200,
RESISTANCE 1: 7150,
SUPPORT 1: 6980,
SUPPORT 2: 6880.
STRATEGY: BUY ON DIPS
The NCDEX Soyabean Jan futures slipped by -0.96% in the last trading to close at 3089 level till
Wednesday closing.
Domestic market was supported from news of US soybean export picking up, in addition to
renewed buying interest against lower price levels. News of stock limits being eased by the
Maharashtra government added to the positive tone. The Government of Maharashtra has
announced on Monday to cancel buying limits which implies that now plants shall be prompted
to buy in bulk quantities when needed. This will be supportive for prices in coming days.
SOYABEAN (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2:3175,
RESISTANCE 1:3125,
SUPPORT 1: 3070,
SUPPORT 2: 3000.
STRATEGY: SELL ON RISE
Guarseed futures traded on a Negative note decreased demand on Wednesday (5.00PM).
Gaurseed Jan contract lost -0.18% to 3316 levels.
Firm trend was noted for Guar even as profit booking set in at the higher levels. With exports
slowly picking up for the new crop amidst firm Dollar vs Rupee, falling stocks and the present
low rates added to the bullish sentiments. Fundamentals remain slight firm with falling stocks in
domestic and International markets.
GAURSEED (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 3450,
RESISTANCE 1:3380,
SUPPORT 1: 3280,
SUPPORT 2: 3240.
STRATEGY: SELL ON RISE
The NCDEX Dhaniya Jan futures surged up by 0.33% in the last trading to close at 7920 level on
Wednesday.
Coriander futures edged higher on NCDEX as speculators enlarged their holdings on the back of
improved demand at the spot market. Further, restricted arrivals from major growing regions
also added support to coriander prices’ uptrend.
DHANIYA (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 8100,
RESISTANCE 1: 8020,
SUPPORT 1: 7780,
SUPPORT 2: 7680.
STRATEGY: SELL ON RISE
Get real time advice from Our Best Advisory - Capitalstars
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA00000164
Turmeric April futures traded on a surged up Tuesday (5.00pm) at India's National Commodity
& Derivatives Exchange (NCDEX). Turmeric spiced by 0.29% to 7000 level at NCDEX.
Moderate firm trend persisted for Turmeric even as low volumes were noted in the futures
market. Overall trend remained firm however for the medium term on falling stocks as demand
is expected to recover after some more corrections in prices New crop arrivals are still far away
from Dec onwards, and this could keep overall market sentiments bullish for the time being.
TURMERIC (APRIL) TECHNICAL VIEW:
TREND: CONSOLIDATE
RESISTANCE 2: 7120,
RESISTANCE 1: 70040,
SUPPORT 1: 6890,
SUPPORT 2: 6840.
STRATEGY: BUY ON DIPS
The NCDEX Soyabean Jan futures slipped by -0.83% in the last trading to close at 3112 level till
Tuesday closing.
Domestic market was supported from news of US soybean export picking up, in addition to
renewed buying interest against lower price levels. News of stock limits being eased by the
Maharashtra government added to the positive tone. The Government of Maharashtra has
announced on Monday to cancel buying limits which implies that now plants shall be prompted
to buy in bulk quantities when needed. This will be supportive for prices in coming days.
SOYABEAN (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2:3150,
RESISTANCE 1:3140,
SUPPORT 1: 3100,
SUPPORT 2: 3070.
STRATEGY: SELL ON RISE
Guarseed futures traded on a Positive note increased demand on Tuesday (5.00PM). Gaurseed
Jan contract gained 0.03% to 3323 levels.
Firm trend was noted for Guar even as profit booking set in at the higher levels. With exports
slowly picking up for the new crop amidst firm Dollar vs Rupee, falling stocks and the present
low rates added to the bullish sentiments. Fundamentals remain slight firm with falling stocks in
domestic and International markets.
GAURSEED (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 3400,
RESISTANCE 1:3340,
SUPPORT 1: 3280,
SUPPORT 2: 3230.
STRATEGY: SELL ON RISE
The NCDEX Dhaniya Jan futures slipped by -1.44% in the last trading to close at 7885 level on
Tuesday.
Coriander futures edged higher on NCDEX as speculators enlarged their holdings on the back of
improved demand at the spot market. Further, restricted arrivals from major growing regions
also added support to coriander prices’ uptrend.
DHANIYA (JANUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 8250,
RESISTANCE 1: 8110,
SUPPORT 1: 7770,
SUPPORT 2: 7680.
STRATEGY: SELL ON RISE
Get real time advice from Our Best Advisory - Capitalstars
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA00000164
Turmeric Dec futures traded on a slipped Friday (5.00pm) at India's National Commodity &
Derivatives Exchange (NCDEX). Turmeric spiced by -1.44% to 7264 level at NCDEX.
Moderate firm trend persisted for Turmeric even as low volumes were noted in the futures
market. Overall trend remained firm however for the medium term on falling stocks as demand
is expected to recover after some more corrections in prices New crop arrivals are still far away
from Dec onwards, and this could keep overall market sentiments bullish for the time being.
TURMERIC (DECEMBER) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 7450,
RESISTANCE 1: 7350,
SUPPORT 1: 7200,
SUPPORT 2: 7130.
STRATEGY: SELL ON RISE
The NCDEX Soyabean Dec futures surged up by 0.06% in the last trading to close at 3117 level
till Friday closing.
Domestic market was supported from news of US soybean export picking up, in addition to
renewed buying interest against lower price levels. News of stock limits being eased by the
Maharashtra government added to the positive tone. The Government of Maharashtra has
announced on Monday to cancel buying limits which implies that now plants shall be prompted
to buy in bulk quantities when needed. This will be supportive for prices in coming days.
SOYABEAN (DECEMBER) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2:3220,
RESISTANCE 1:3180,
SUPPORT 1: 3110,
SUPPORT 2: 3080.
STRATEGY: SELL ON RISE
Guarseed futures traded on a negative note decreased demand on Friday (5.00PM). Gaurseed
Dec contract lost -1.13% to 3330 levels.
Firm trend was noted for Guar even as profit booking set in at the higher levels. With exports
slowly picking up for the new crop amidst firm Dollar vs Rupee, falling stocks and the present
low rates added to the bullish sentiments. Fundamentals remain slight firm with falling stocks in
domestic and International markets.
GAURSEED (DECEMBER) TECHNICAL VIEW:
TREND: MIXED TO BULLISH
RESISTANCE 2: 3420,
RESISTANCE 1:3380,
SUPPORT 1: 3305,
SUPPORT 2: 3280.
STRATEGY: BUY ON DIPS
The NCDEX Dhaniya Dec futures slipped by -0.88% in the last trading to close at 8010 level on
Friday.
Coriander futures edged higher on NCDEX as speculators enlarged their holdings on the back of
improved demand at the spot market. Further, restricted arrivals from major growing regions
also added support to coriander prices’ uptrend.
DHANIYA (DECEMBER) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 8150,
RESISTANCE 1: 8080,
SUPPORT 1: 7930,
SUPPORT 2: 7850.
STRATEGY: SELL ON RISE
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Turmeric futures (Dec) may trade with an upside bias & can test 7450 levels. The arrival of turmeric to Erode markets increased on Thursday. After a few months, the price of the spice touched Rs.9,000 a quintal yesterday and 1,300 bags arrived for sale and 80 per cent was sold. The price of the finger variety increased by Rs.200-400 a quintal and that of the root variety by Rs.50-200. At the Erode Turmeric Merchants Association, the finger turmeric traded at Rs.5,531-9,088 a quintal; the root variety Rs.5,314-8,008.
Jeera futures (Dec) is likely to trade in the range of 18350-18900 levels & the upside may remain capped with reports of higher sowing in Gujarat. Cumin sowing in the state as on November 23 reached at 9.91 lakh hectares, sharply up from 1.74 lakh hectares same period a year ago.
Coriander futures (Dec) might remain trapped in the range of 7870-8200 levels following bearish sentiments of dull demand in the spot markets. A bearish tone witnessed in coriander at the major markets of Rajasthan, whereas Guna market of Madhya Pradesh observed negligible trade amid no supply. Activity in spot markets of Rajasthan was mostly dull as liquidity crisis still persists with buyers.
Soybean futures (Dec) is expected to trade with an upside bias in the range of 3100-3140 levels. There are talks that India may receive export orders as disparity with Argentine soymeal has reduced to $1 from $2 in last one week. As per market source India has received 2.5 to 3 lakh tonnes of export orders of soymeal for November-December delivery. On CBOT, U.S. soybean futures finished down 2-1/2 cents at $10.29-3/4 a bushel. Soybeans sagged on expectations for a slowdown in export demand for U.S. supplies, along with generally favorable South American crop weather. Mustard futures (Dec) will possibly trade in the range of 4750-4850 levels. Demand of mustard oil is likely to improve in mid december as it is highly consumed during winter season. Mustard oil cake demand is still on higher side from cattle feed manufacturer and the availability of mustard oil cake is also less on limited crushing pushing the prices higher.
Refined soy oil futures (Jan) is likely to trade with an upside bias in the range of 728-735 levels, while CPO futures (Dec) may trade with an upside bias in the range of 553-560 levels. The outlook for soy oil is strong as stock at various ports were reported lower by 80,000 tonne on Nov 21 at 1.83 lakh tonne, against average of 2.62 lakh tonne since July. At the spot markets, edible oils continued their uptrend on renewed demand amid expectation of higher volumes. Weakness in the rupee continued to weigh as imports became costlier.
Sugar futures (Dec) may witness a consolidation in the range of 3430-3470 levels & remain stable tracking positive fundamentals of the sweetener on the overseas market. Sugar prices ruled unchanged on routine demand-supply. Vashi traders made limited fresh commitments as local demand eased due to shortage of currency notes. Naka and mill tender rates also remained flat. Freight rates were steady. Arrivals were at 55-57 truck loads and local dispatches were about 56-57 loads. Inventory at Vashi market remained stable at 105-110 truck loads.
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CS TURMERIC (DECEMBER) OVERVIEW:
TREND MIXED TO BULLISH
RESIST 2:7350
RESIST 1:7300
SUP1:7210
SUP2:7170
STRATEGY:BUY ON DIPS
CS SOYABEAN (DECEMBER) OVERVIEW:
TREND MIXED TO BULLISH
RESIST 2:3160
RESIST 1:3140
SUP1:3110
SUP2:3090
STRATEGY:BUY ON DIPS
CS GARUSEED (DECEMBER) OVERVIEW:
TREND MIXED TO BULLISH
RESIST 2:3410
RESIST 1:3380
SUP1: 3310
SUP2:3250
STRATEGY:BUY ON DIPS
CS DHANIYA (DECEMBER) OVERVIEW:
TREND MIXED TO BEARISH
RESIST 2: 8280
RESIST 1: 8090
SUP1:7780
SUP2:7650
STRATEGY:SELL ON RISE
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