calls NCDEX AGRI for comming week

#1
Commodity Strategy Entry SL TP

Jeera (Nov) Sell 10650-700 11000 9950
Turmeric(Dec) Sell 3200-3230 3295 2975
Pepper(Dec) Sell 11350-400 11910 10000

MAIZE Buy 830 813 900


Oil seed
Commodity Strategy Entry SL TP
Soybean (Nov) Sell 1650-1655 1700 1606
RM Seed (Jan) Sell 536-540 557 510

Outlook TURMERIC
Market sentiment is still holding weakness on the ack of lackluster demand and availability of mple stock in the market. However, short overing on recent down side movement may not uled out in the market in absence of spot market

Outlook PEPPER
Pepper futures are forecast to continue its downward trend because of poor demand and mounting selling pressure in the market

Outlook MAIZE: Corn prices on domestic market are expected to trade sideways to firm bias on tight supply of stock in the market followed by strong buying support from the feed and starch industries.

Outlook JEERA
Jeera prices are likely to remain under pressure for the eek ahead due to weak demand and better sowing rogress. The January NCDEX futures may fall to s8500-9000 range in next few weeks and selling on very rallies in adviced





Guar seed
Guar seed futures has seen third biggest ever weekly fall in last week. The active contract January NCDEX has lost by
about Rs240 per quintal and made low of Rs1511 per quintal. The near month November NDCEX futures fell below
Rs1500 levels and made low of Rs1445 per quintal. All the contracts traded below Rs1600 mark for the first time in
last three years. The prices breached crucial support of Rs1580 and fell to three years low of Rs1450 levels.
Increasing arrivals and lack of buying in spot markets apart from weakness in most of commodities led to sharp
decline in guar seed prices. in the spot markets, prices fell to Rs1500 per quintal for the first time in last three years.
Fundamentals factors
Daily arrivals stood around 80000‐120000 bags in last week up from previous weeks 60000 bags
The stockiest and exporters were completely away from the market due to financial crunch
The fall in equity markets, agriculture commodities and also non‐agriculture commodities had spill over
impact on guar seed prices
The traders who had long positions at higher levels offloaded their positions after breaching crucial level of
Rs1600 per quintal
The export demand for guar gum has declined due to ongoing financial crisis in most of countries especially
US and Europe, who are major buyers of guar gum
Meanwhile, Indian Rupee fell further and made new low of 50.15 against USD
The depreciation of Rupee against USD had no positive impact on guar gum exports
According to unconfirmed reports, some of export orders of guar gum have been cancelled from India
The export price of guar gum also reported to has fallen to $900 per tonne from recent level of $1100 per
tonne
In the domestic markets, the arrivals may decline at least in short term due to sharp fall in prices as the
farmers may not bring enough produce at these lower levels
The stocks at NCDEX warehouses have increased to 70975 tonnes as on 23th November up by 2.2 percent
The prices have already breached two year low of Rs1580 and has fallen to Rs1445 levels and this bearish
trend is likely to continue further in short term
The futures may get support at Rs1320‐1350 (January NCDEX) range in near term, which is about Rs1000
lower than its contract high
Meanwhile, for the week ahead, prices may take technical pullback initially before fresh selling emerges at
higher levels


 

Similar threads