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Showing posts with label Capitalstars Video Gallery. Show all posts
Showing posts with label Capitalstars Video Gallery. Show all posts

Thursday, 14 February 2019

Turmeric futures (Apr) is expected to take support near 6280 levels & witness short covering taking positive cues from the spot markets.


CAPITALSTARS INVESTMENT ADVISOR

Arrivals of new turmeric to the markets in Erode increased. The price of finger and root varieties of new turmeric, too, improved. The traders have purchased all the arrivals. The arrivals to improve further from next week and the traders may buy more as they have received some fresh upcountry demand. Jeera futures (Mar) is expected to rally towards 15700- 15800 levels, taking support near 15540. Spot jeera prices continued to rule steady at major markets in Gujarat in limited trade on Tuesday id matching demand and supply. This season, Gujarat has witnessed lower sowing, but due to cool weather persisting for a longer time, the yields are expected to get better. In Rajasthan, the climatic conditions are also proving to be beneficial for the standing crop & hence the production is likely to be higher. Coriander futures (Apr) is expected to plunge towards 6000-5900 levels. Spot coriander prices are trading with a bearish bias at major markets in Gujarat, Madhya Pradesh and Rajasthan due to heavy arrivals from the ample old stocks. While, prices quoted lower at major markets in Gujarat due to increased arrivals & having higher moisture content. On the other hand, there was no report of new crop arrival in Madhya Pradesh.

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Wednesday, 13 February 2019

The short covering in soybean futures (Mar) may face resistance near 3790 levels.


India’s soybean output is likely to rise by a staggering 38 per cent this year on a sharp increase in average yield across the country, following favourable climatic condition in major cultivating states including Madhya Pradesh, Maharashtra and Rajasthan. Data captured through the latest assessment of farmers, traders and other stakeholders by the apex industry body the Soybean Processors’ Association (SOPA) showed India’s total soybean output standing at 11.48 million tonnes during the ongoing harvesting season as compared to 8.36 million tonnes in the previous season. Mustard futures (Apr) is expected to trade with an upside bias taking support near 3900 levels. Heavy rains and hailstorms that lashed northwestern India last week have caused damage to the oilseed. Ref. soy oil futures (Mar) is expected to trade with a negative bias & remain below 763 levels. The market participants are expecting huge soyoil imports near to 4 lakh tons in month of Feb. Bulk stocks shall continue to add pressure on market sentiments. The short covering in CPO futures (Feb) may remain restricted to 564 levels. Malaysian palm oil futures slipped on Tuesday, posting a third day of declines amid slowing export demand. On the international market, weak external markets, led by the falls in crude and U.S. soyoil, also weighed on palm.

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Tuesday, 12 February 2019

Soybean futures (Mar) may witness more correction towards 3665 levels.

India’s soybean output is likely to rise by a staggering 38 per cent this year on a sharp increase in average yield across the country, following favourable climatic condition in major cultivating states including Madhya Pradesh, Maharashtra and Rajasthan. Data captured through the latest assessment of farmers, traders and other stakeholders by the apex industry body the Soybean Processors’ Association (SOPA) showed India’s total soybean output standing at 11.48 million tonnes during the ongoing harvesting season as compared to 8.36 million tonnes in the previous season. Mustard futures (Apr) is expected to trade with an upside bias taking support near 3900 levels. Heavy rains and hailstorms that lashed northwestern India last week have caused damage to the oilseed. Ref. soy oil futures (Mar) is expected to fall towards 756 levels. The market participants are expecting huge soyoil imports near to 4 lakh tons in month of Feb. Bulk stocks shall continue to add pressure on market sentiments. CPO futures (Feb) may witness correction towards 559 levels. Malaysian palm oil futures fell over 1 percent to their lowest in nearly three weeks on Monday as traders turned bearish due to a weaker outlook for exports. The drop is due to continuous appreciation in the ringgit & going ahead may selling activities may continue to be seen due to stronger Malaysian currency. A stronger ringgit, palm's currency of trade, usually makes the edible oil more expensive for foreign buyers. 


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Monday, 11 February 2019

 Turmeric futures (Apr) may see more downside of 6300-6250 levels owing to lack of sufficient cues from the demand side which are failing to pull up the prices. 

CAPITALSTARS INVESTMENT ADVISER

On the spot markets, poor quality of new turmeric is arriving for sale due to which the stockiest are getting discouraged from fresh buying. The market participants are expecting upcountry demand but are getting very negligible numbers at present, hence getting the producers are not bringing their best quality produce. Though the production of Mysore turmeric at Karnataka area is in encouraging level, the farmers are bringing little quantity of the turmeric for sale every day. Jeera futures (Mar) has gone down to an extremely oversold zone & this week we may see some short covering with the counter expected to take support near 15300 levels. However, any sharp upside may not be seen as the fundamentals indicate that the current weather conditions over the major growing regions are conducive for the crop. This season, Gujarat has witnessed lower sowing, but due to cool weather persisting for a longer time, the yields are expected to get better. In Rajasthan, the climatic conditions are also proving to be beneficial for the standing crop & hence the production is likely to be higher. On the demand side, the exporters are almost inactive and waiting for the fresh crop to hit the markets. The increasing open interest week-on-week & decreasing trend of coriander futures (Apr) depict that we may witness more correction in the counter towards 6100 levels. Spot coriander prices are trading with a bearish bias at major markets in Gujarat, Madhya Pradesh and Rajasthan due to heavy arrivals from the ample old stocks.

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Friday, 8 February 2019

The short covering in turmeric futures (Apr) is likely to face resistance near 6420 levels amid supply pressure of new crop & estimates of higher output.

The prices of old and new turmeric were increased. Though traders are not getting any upcountry demand for the turmeric, the traders quoted increased price for both the new and old turmeric. Jeera futures (Mar) is likely to remain below 15780 levels. Onthe pot markets, the prices are showing a negative reaction to the arrivals which are sharply higher than expectations & with buyers reported to be less, a selling pressure Is getting built over the counter. Coriander futures (Apr) is expected towitness lower level buying taking support near 6080 levels. The new coriander crop, which started coming into the key wholesale market of Ramganj in Rajasthan, is being sold at a price 20% higher than last year. Cardamom futures (Feb) may face resistance near 1620 levels. On the export front, the demand is getting dull as India is out of the league because of the pesticide issue with Saudi Arabia. The market participants are pessimistic and expecting that overseas sales of cardamom slump to an 11-year low. After a year of record high exports of 5,680 tons in 2017-18, it is being anticipated that in 2018-19, this figure may be in three digits of merely 900 tons. 

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Thursday, 7 February 2019


The bearish trend of turmeric futures (Apr) is likely to get extended further to test




   CapitalStars Investment Adviser

6250-6200 amid supply pressure of new crop & estimates of higher output. The prices of old and new turmeric were increased. Though traders are not getting any upcountry demand for the turmeric, the traders quoted increased price for both the new and old turmeric. About 4,200 bags of turmeric including 290 bags of new turmeric arrived for sale and the traders for their local demand have purchased the turmeric. Jeera futures (Mar) is likely to go down further & test 15200 levels. On the spot markets, the prices are showing a negative reaction to the arrivals which are sharply higher than expectations & with buyers reported to be less, a selling pressure Is getting built over the counter. Coriander futures (Apr) is expected to witness lower level buying taking support near 6200 levels. The new coriander crop, which started coming into the key wholesale market of Ramganj in Rajasthan, is being sold at a price 20% higher than lat year. Cardamom futures (Feb) may face resistance near 1620 levels. On the export front, the demand is getting dull as India is out of the league because of the pesticide issue with Saudi Arabia. The market participants are pessimistic and expecting that overseas sales of cardamom slump to an 11-year low. After a year of record high exports of 5,680 tons in 2017-18, it is being anticipated that in 2018-19, this figure may be in threedigits of merely 900 tons.

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