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Showing posts with label Free commodity tips. Show all posts
Showing posts with label Free commodity 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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Friday, 15 February 2019

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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Wednesday, 13 February 2019

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


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 4270-4300 levels, while guar gum futures (Mar) is expected to remain below 8450-8500 levels. The week-on-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 take support near 4165 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 taking support near 1565 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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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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Thursday, 7 February 2019

closing bell

DAILY NIFTY SMART MOVERS 


SCRIPTS PRICE VOLUME (IN 000�S) PRE. CLOSE CHANGE (%) CHANGE (Rs.)
Vodafone Idea 32.70 3917.85 29.80 9.73 2.90
Ashok Leyland 87.60 3142.05 82.50 6.18 5.10
Zee Entertainment 408.90 891.38 387.95 5.40 20.95
REC 124.75 547.47 119.00 4.83 5.75
Sun Pharma Inds. 434.00 1200.24 415.40 4.48 18.60


DAILY NIFTY TOP LAGGARDS

SCRIPTS PRICE VOLUME (000�S) PRE. CLOSE CHANGE (%) CHANGE (Rs.)
Cummins India 769.75 76.63 801.15 -3.92 -31.40
Lupin 821.75 217.42 841.95 -2.40 -20.20
JSW Steel 272.85 323.95 279.30 -2.31 -6.45
Reliance Industries 1290.20 739.96 1309.85 -1.50 -19.65
Tata Power 69.30 340.43 70.20 -1.28 -0.90


BEST CALL OF THE DAY (FINAL TG )

HNI OPTION 


BUY SUN PHARMA CALL 430 FINAL TGT 

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BUY DIVIS LAB IN CASH FINAL TGT (05TH FEB)

CPE

BUY TVS MOTOR FUT ALMOST FINAL TGT 

HNI FUTURE

BUY ICICI PRULI FUT FINAL TGT 

HNI CASH 

BUY MOTHERSUMI IN CASH BOOKED 50%



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Tuesday, 5 February 2019

The bearish trend of turmeric futures (Apr) is likely to get extended further to test 6300 amid supply pressure of new crop & estimates of higher output. 


On the spot market, the new turmeric price also showed a dip. This decrease is due to quality and also there was no major upcountry demand. The arrival of new turmeric is also remains low and the traders are expecting good arrival of new turmeric within a week’s time. Jeera futures (Mar) is likely to go down further & test15500 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 6545-6500 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 enter a correction mode to test 1530 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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