Jeera futures traded marginally lower on NCDEX on account of fall in demand at the spot market. Though, some losses were capped on lower production estimates by Gujarat Agriculture Department in its 3rd advance estimates for 2016-17. As per third advance estimates for 2016/17, production of Jeera in Gujarat revised down to 2.12 lakh tonne, down 4% from its 2nd estimates and almost 11% compared to last year production of 2.38 lakh tonnes.
As per the 3rd advance estimate this year, Guar seed production 2.42 lakh tonnes, mustard production 3.47lakh tonnes, Gram production 2.10 lakh tonnes, Tur production 3.69 lakh tonnes, total pulses production 8.24 lakh tonnes, Wheat production is 29.38 lakh tonnes and Maize production is 8.14 lakh tonnes.
Crude palm oil futures traded slightly higher on MCX as speculators enlarged positions, driven by rising demand at spot market. Besides, tight stock position on restricted supplies from producing regions too fuelled the downtrend.
Mentha oil futures traded slightly lower on MCX on profit-booking by speculators and fall in demand from major consuming industries in the domestic spot market. Additionally, ample stocks position on higher supplies from producing regions too influenced menthe oil prices.
Soybean
Our buy call from 2970 to 3069 proven great.
Now what to expect???
Support at 3035---2980 and Resistance at 3070
Close above 3070 will take it to 3130---3180+++ mark in days to come else could touch its support level of 3035---2980 again.
Trade with levels only
Soyaref
Support at 614 and Resistance 625
Looks positive and could touch its resistance level of 625. Further upside rally will see only close above 625 mark else it could touch its support level of 614 again.
Fresh selling can initiate only close below 614 mark
Trade with levels only
Dhaniya
Support at 6800 and Resistance is 7000---7150.
Close below 6800 will see sharp downside panic till 6400---6250 and then 5800 mark in days to come else it could touch its resistance level of 7000---7150 again.
Trade in a range with levels only
Jeera
Support at 18700 and Resistance at 19600
Weekly close below 18700 will see sharp downside panic towards 18350---18100 else it could touch its resistance level of 19600.
Fresh buying can initiate only close above 19600 mark.
Trend- Sideways lower
RM Seed
Support at 3770 and Resistance 3855
Momentum looks sideways and if prices gives daily close below 3770 will extend it to 3725---3680 else it could touch its resistance level of 3855 again
Fresh selling can initiate only close below 3770 mark
TMC
Our buy call in Turmeric proven great 6148 to 6376
Now what to expect???
Resistance 6380 and support at 6050.
Expect choppy session in it. So be careful while trading in Turmeric. Anything seems will update.
Cocudakl
Support seen at 1990 while, resistance can be defined as 2040
Hurdle at 2040. Weekly close above 2040 will take to 2085---2130 and then to 2250+ mark in days to come.
Close below 1990 will take to towards 1950---1925 and then 1910.
Trend- Sideways
Mentha oil
Support at 925 and resistance at 970
Weekly close below 925 will take it to 905---882 mark else could test its resistance level of 970 again.
Trade with levels only
CPO
Support at 505 and Resistance at 525.
Looks positive and could test its resistance level of 525.
More and more power will see only close above 525 mark else it could test its support again.
Fresh selling can initiate only close below 505 mark.
Trade with levels only
Trend – Positive…
Castor Seed
Support at 4630 and resistance is at 4725.
Above 4725…. Rally remain continue till 4900---5060+ mark else could touch its support level of 4630 again
Fresh downside panic will see only close below 4630 mark.
Trade in a range with levels only
More will update soon!!
