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Showing posts with label Free Commodity Tips | Commodity Tips | Best Commodity Tips. Show all posts
Showing posts with label Free Commodity Tips | Commodity Tips | Best Commodity Tips. Show all posts

Monday, 18 February 2019

Soybean futures (Mar) is likely to witness sell on rise from 3775 & is expected to test 3700 levels on the downside. 


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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 face resistance near 770 levels & trade with a downside bias. Demand in the physical market is subdued from millers and crushers with ongoing lean season for soybean and oil market. CPO futures (Mar) is expected to plunge further & test 555 levels on reports of higher imports. The latest statistics show that imports of palm oils including RBD Palmolein and CPO touched 23.18 lakh tonnes (lt), up from 22.74 lt reported in the same period last year. Mustard futures (Apr) will possibly remain stable in the range of 3900-3940 levels. The changing weather patterns causing rainfall over the major growing regions where the crops are in the fields are bringing concerns over the production scenario.


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Friday, 15 February 2019

Cotton futures (Feb) is likely to plunge further towards 20100-20000 levels. 

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Cottonprices moved lower in Punjab, Haryana and upper Rajasthan, tracking weakness in US natural fiber. Sharp decline in domestic futures along with higher output estimate in China also weighed on spot prices. Worries about a looming March 1 deadline for a US-China trade agreement also dragged prices lower. Meanwhile, negotiators from the United States and China, the world's top soybean buyer, are trying to hammer out a trade deal before a March 1 deadline, when US tariffs on USD 200 billion worth of Chinese imports are scheduled to increase to 25 percent from 10 percent. Guar seed futures (Mar) may face resistance near 4300 levels, while guar gum futures (Mar) is expected to remain below 8520 levels. The weekon-week declining ratio of guar seed to guar gum is depicting the fact that demand for these commodities are decreasing. Chana futures (Mar) is expected to test 4335 levels on the higher side. The counter is trading higher at major markets in the country following firm cues from fresh physical trade activity at lower rates. Flour millers are actively purchasing chana due to cheaper prices and easy availability compared to White Pea. Moreover, the Cold waves and untimely rains may further damage the standing crop. Mentha oil (Feb) is likely to witness profit booking from higher levels facing resistance near 1650. However, overall sentiments are bullish as delayed sowing in the state is likely to affect the crop yield. As per reports, farmers are now worried as untimely rains and inclement weather conditions have delayed the sowing in key producing belts. The production is likely to be badly affected if weather conditions don't improve in the next few days. 


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Soybean futures (Mar) may face resistance near 3785 levels & trade with a negative bias.


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 SoybeanProcessors’ 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 consolidate in the range of 3920-3960 levels. Heavy rains and hailstorms that lashed north-western India last week have caused damage to the oilseed. Ref. soy oil futures (Mar) is expected to trade with a negative bias facing resistance near 762 levels. CPO futures (Feb) may fall further & test 553 levels. Vegetable oil imports for the period from November 2018 to January 2019 stood at 36,20,316 tonnes — nearly flat as compared to what was reported in the same period last year. According to the data compiled by the Solvent Extractors’ Association of India (SEA), imports of palm oils — including RBD Palmolein and CPO — touched 23.18 lakh tonnes (lt), up from 22.74 lt reported in the same period last year. In news, The U.S. soybean processing pace slowed slightly in January from the previous month, although the crush was still the largest on record for the first month of the year, according to analysts polled ahead of a monthly National Oilseed Processors Association (NOPA) report. The monthly NOPA report will be released at 11 a.m. CST (1700 GMT) on Friday.


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Tuesday, 12 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.

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 & 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 short covering seen in coriander futures (Apr) may face resistance near 6320 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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Monday, 11 February 2019

Cotton futures (Feb) is likely to witness a bounce back amid lower level buying taking support near 20400. 

 The statistics of lower output this season may lend cushion to the prices. In its latest estimates, the Cotton Association of India has further trimmed the crop size by 5 lakh bales to 330 lakh bales of 170 kg each for season 2018-19. This estimated crop size is the lowest in a decade. Guar seed futures (Mar) may show more sign of weakness & may even break the strong support near 4150 to test 4100-4050 levels, while guar gum futures (Mar) is expected to plunge further towards 8100 levels. The week-onweek declining ratio of guar seed to guar gum is depicting the fact that demand for these commodities are decreasing. Chana futures (Mar) is expected to show an upside momentum towards 4350, as soon as it surpasses the resistance near 4295 levels. The counter is trading higher at major markets in the country following firm cues from fresh physical trade activity at lower rates. Flour millers are actively purchasing chana due to cheaper prices and easy availability compared to White Pea. Moreover, the Cold waves and untimely rains may further damage the standing crop. Mentha oil (Feb) is likely to trade with a positive bias & may even rally up to test 1610, taking support near 1560 levels. Overall, sentiments are bullish as delayed sowing in the state is likely to affect the crop yield. As per reports, farmers are now worried as untimely rains and inclement weather conditions have delayed the sowing in key producing belts. The production is likely to be badly affected if weather conditions don't improve in the next few days.


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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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