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Showing posts with label Equity Trading Tips. Show all posts
Showing posts with label Equity Trading Tips. Show all posts

Monday, 18 February 2019

Cotton futures (Feb) is expected to bounce back amid short covering and lower level buying taking support near 19990.


On the spot markets, cotton prices are expected to remain firm this year due to lower production in the country, apart from rising consumption. In the international markets, the traders are keeping an eye on what's going on over in Beijing for some positive news. High-level officials from the US and China are in talks as a critical trade war deadline is getting closer since March 1 marks the deadline for the current 90-day pause in the trade war. Chana futures (Mar) is expected to intensify its rally & test 4350 levels. Dal mills have kicked off stocking to build inventory after a jump in arrival of pulses from fresh harvest that is likely to double up in coming weeks. Dal mills purchase raw pulses from market and then process it into dal of various grades. On processing 60% comes out as dal, while 25% goes as cattle feed. The rest is wasted. Another reason for the upside momentum is being attributed to the market talks that Nafed will not sell chana in open markets and will go to build buffer stock around 10 lakh tonnes. The trend of mentha oil (Feb) is bullish & may take support near 1590 levels. Weather disturbances in the major growing areas are giving signals of delayed sowing in the key growing areas of Uttar Pradesh. Moreover, demand from both domestic and export fronts are emerging at existing price levels. Export demand has started to pick up from China. 

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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

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


The arrival of turmeric has been increased on Tuesday. The upcountry demand is expected within a fortnight. The market participants are expecting the arrival of the new Erode Turmeric by the first week of March, when abundant demand from North India may be received by the traders. 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 by Rs.20 per 20kg 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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Friday, 8 February 2019

Soybean futures (Feb) is expected to witness consolidation in the range of 3725- 3795 levels.

Data compiled by the Solvent Extractors’ Association of India (SEA) showed a sharp jump in soybean meal exports during the period under review from 23,000 tonnes to 2.8 lakh tonnes with the Iran market opening up. Mustard futures (Feb) is likely to fall further towards 3880 levels. The continuous offloading of old stocks by traders and government agencies are continuously building selling pressure on physical markets. The left-over stock with NAFED is now close to 2.18 lakh tons. Additionally, the recent rain and less foggy days are proving to be beneficial for the mustard crop & raising the prospects of higher output this season.Three spells of rains in December and January have boosted moisture in the soil,which increased yields in Rajasthan. Mustard carryover stocks are seen at 500,000 tn in the year ended January, up from 400,000 tn last year. CPO futures (Feb) is likely to witness profit booking from higher levels facing resistance near 575 levels. The majority of oils in Indore mandis have been trading low for the past few days on slack physical demand with soy refined quoted at Rs.777-80 for 10 kg (down Rs.10), while soy solvent ruled at Rs.740-45. Similarly, palm and cotton oils also traded low with palm oil being quoted at Rs.695 (down Rs. 5), while cotton oil (Gujarat) at Rs.715 and cotton oil (Indore) at Rs.755 respectively.

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Thursday, 7 February 2019

Cotton futures (Feb) is expected to face resistance 20805 levels.

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The sentiments are bearish on account of weak demand from both yarn mills and overseas markets. Presently, the export demand is sluggish as the prices being offered at around 74-75 cents per pound are higher as compared to the global market. Day’s ahead, the talks on US-China trade situations will give direction to the cotton prices in the international market. Guar seed futures (Feb) may fall further towards 4040 levels, while guar gum futures (Feb) is expected to witness more correction & test 8000-7900 levels. Due to lack of fundamentals & lack of clarity in direction of prices, the buyers are staying away from fresh buying. Anticipation of 60% probability of El Niño conditions to form and continue through the Northern Hemisphere spring 2019 has induced cautiousness among the market participants. However, one must keep a close look as both the counters are witnessing consolidation & open interest is declining, giving an indication of a possible trend reversal. The trend of chana futures (Mar) is bearish & may trade sideways to down in the range of 4165-4265 levels. Overall, the sentiments are weak due to higher arrivals of new crop and the rise in selling pressure by the NAFED, especially in the states of Madhya Pradesh and Rajasthan. Mentha oil (Feb) is likely to take support near 1540 levels. The sentiments are turning positive on account of delayed sowing due to untimely rains which may bring a considerable dip in the crop yield. 

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Wednesday, 30 January 2019


MCX updates

BULLION - MCX Gold and Silver may witness choppy trade in line with international market but bias may be on the upside. COMEX gold trades higher near $1320/oz and has tested the highest level since May 2018. Gold has gained support from weakness in US dollar post FOMC decision. The US dollar index trades little changed near 95.3 levels after 0.5% decline yesterday. The US dollar weakened as Fed changed its official stance from gradual rate hikes to patience on future rate hikes. Fed�s stance has fuelled market expectations that there may be no rate hike this year. In last few days, there have been reports that Fed may end its bond reducing program thereby increasing US dollar supply in market. Fed indicated no change to its bond plan however it showed willingness to be flexible has fuelled expectations that Fed�s next move could be ending bond reduction. Gold is also supported by mixed US and Chinese economic data and uncertainty about US-China trade talks. US-China will hold second day talks today but there is little hope of a major breakthrough. ETF inflows also show buying interest in gold. Gold holdings with SPDR ETF were unchanged at 828.868 tonnes, highest since June 2018. Gold may witness choppy trade as market players assess Fed�s stance and position for other events like US China trade talks and US non-farm payrolls however bias may be on the upside given weaker outlook for US dollar.

ENERGY- Crude Oil- MCX Crude may note some gains tracking cues from international exchange. NYMEX crude trades higher above $54 per barrel after yesterday�s 1.7% gain. Supporting crude price is EIA weekly report which noted a 0.919 million barrel increase in US crude oil stocks as against expectations of 3.1 mn bbl rise. EIA also noted an unexpected 2.235 mn bbl decline in gasoline stocks after sharp rise in last few weeks. US crude production was however steady at record high level of 11.9 million barrels per day. Also supporting crude price are supply concerns relating to Venezuela post US announcement of sanctions on Venezuela's state-owned oil co. PDVSA. Sanctions could reduce Venezuelan exports by about 500,000 bpd however it is likely that they will find other buyers in Asia. Crude has also benefited from Saudi and Russia�s support for production cuts. Russia Energy Minister Alexander Novak said Russia reduced oil output gradually in line with its pledge to the cartel and will try to increase the pace of reduction next month. Crude also gained support for weakness in US dollar post Fed�s announcement to be patient on rate hikes. Crude has managed to gains despite mixed US and Chinese economic data and uncertainty about US-China trade talks. China�s manufacturing PMI improved from a month earlier but held 50 levels indicating contraction in manufacturing activity. US ADP report showed a bigger than expected rise in jobs but pending home sales fell.

Natural Gas- MCX Natural gas may note mixed trade in line with international market however sell on rise is suggested. NYMEX natural gas trades marginally higher near $2.88/mmBtu after a 1.7% decline yesterday. Supporting gas price is expectations of a bigger than average decline in gas stocks which will widen the deficit over 5-year average stocks. EIA weekly report due today is expected to note a 194 Bcf decline in gas stocks as against 5-year average decline of 150 Bcf. However, weighing on price are weather forecasts which show that current cold weather in US Midwest and East may not continue for long keeping a check on heating demand. Natural gas may remain range-bound ahead of inventory report however overall bias may remain weak due to subdued demand expectations

BASE METAL - Base metals on LME trade sideways to higher today extending yesterday�s gains. LME Nickel was the best performer with 1.9% gains followed by 1.4% rise in Copper prices and 1.1% gains in Zinc prices. In other metals Aluminium and Lead prices ended 0.9% and 0.7% higher respectively.




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: INA000001647
 
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