Update in Base Metals

Lead 

Hurdle at 137. Close above 137 will take it to 140---143+++ mark in days to come.

Support intact at 134.00

Zinc

Above 172…. Rally remain continue till 175—178 and then to 181+++ mark in days to come else could touch its support level of 169 again.

Fresh selling can be initiated below 169.00

Aluminium

Support at 124 and resistance at 126.00

Close above 126 will take it to 128—130.00 mark in days to come else could test its support level of 124 again

Further downside panic will see only below 124.00 mark

Nickel

Support at 580 and resistance at 610

Break and sustain above 610 will take it 625--630+ and then to 640++ mark in days to come else could test its support level of 580

Looks weak only below 580

More will update soon!!

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Updates on Bullion, Base Metals and Energy Levels 23rd May 17

Gold futures ended higher on Monday as the US dollar fell against the euro, while US political turmoil fueled demand for bullion as a safe-haven and reduced expectations of rapid US interest rate rises.  

Crude oil futures traded lower on MCX as investors and speculators exited their positions in the energy commodity after reports that the US President Trump proposed the sale of half the country's strategic oil reserves, despite efforts of the Organization of the Petroleum Exporting Countries (OPEC) and other producers, including Russia, to slash output to tighten supply in the market. OPEC and its allies will meet in Vienna on Thursday to discuss output cut extension until March 2018.

Copper futures ended higher on Monday, supported by weaker US currency, which makes dollar-denominated metals cheaper for non US-firms, potentially boosting demand.

Technical Level

Gold 

Support at 28500 and Resistance at 28900

If unable to close above its level of 28900 then it can touch its support level of 28700---28600 again.

Fresh buying can be initiated only close above 28900

Silver

Support at 39600 and Resistance at 40000

Break and sustain below 39600 will take it to 39350---39000 mark else could touch its resistance level of 40000 again.

Fresh buying can only be initiated above 40000.

Crude 

Support at 3250 and Resistance at 3330

Break and sustain above 3330 will take it to 3380—3400 and then to 3450++ mark in days to come else could touch its support level of 3250 again.

Fresh selling can be initiated below 3250 mark.

Natural Gas

Support at 208 and Resistance at 220

Trend looks positive and could touch its resistance level of 220.

Fresh selling can be initiated below only 208 mark. 

Copper 

 Support at 367.50 and Resistance at 372

Above 372 will take it to 378---383+++ mark in days to come else it could touch its support level of 367.50 again.

Fresh selling can be initiated below 367.50

More will update soon!!

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Agri Commodity Update (23-May-2017)

Fundamental Aspect

Jeera futures traded moderately lower on the back of fall in demand at the spot market. Though, some losses were capped on lower arrivals from the producing regions. Reports showed about 6,725 tons of jeera arrived in May (1-20) compared to 26,151 in April (1-20).On the export front, country the exports increase by 29.6% to 1, 08,513 tonnes in first 11 month of MY 2016-17 as per the data release by Dept. of commerce, GOI. The stock levels in the NCDEX warehouse is about 2,092 tonnes, higher by 117% as compared to stocks on 1st May. The stocks were only 964 tonnes in the beginning of the month.

Dhaniya futures traded down for the day. Supplies are likely to improve at major physical market on increase selling pressure from farmers and stockiest at existing levels, which may weigh down the prices in dhaniya. Further, demand from organized retailers ,Inter-state traders and exporters is likely to decline on lower demand from consuming industry as well major importing countries. 

Cardamom futures traded marginally lower as investors cut down their bets amid fall in physical demand for cardamom in the domestic spot market. Further, sufficient supplies on higher physical arrivals from the major cardamom producing regions too fuelled the downtrend. Good pre monsoon showers in cardamom growing regions have boosted the expectations of higher crop in the upcoming season. Further, there are expectations of early commencement of harvesting activities and new crop to be in market by mid-June that may weigh down the prices. However, expectations of export demand from Saudi Arabia ahead of Ramzaan may limit the loss for cardamom futures prices.

Mentha Oil futures are expected to trade lower for the day. As per trader source, this year production is expected to rise by 15% which will have a negative impact on the mentha oil price. On the other side, weather condition is also favourable for the coming crop. From supply side, arrivals are increased in the major spot markets of Uttar Pradesh while demand is minimal from local stockists as well as from mentha consuming industries. In recent years the production and consumption of synthetic mentha has increased which is impacting the demand of natural mentha.

Technical Aspect: (June Contract)

Soybean

Support seen at 2790---2760 and resistance at 2870

Looks weak and close below 2790 will take it to 2760 and then to 2720---2660 mark else it could test its resistance level of 2870 again.

Further upside rally will see only weekly close above 2870 mark.

Trade with levels only

Soyref

Support at 635---628 and Resistance 641

Close above 641 will take it to 645---648+++mark else it could test its support level of 635---628  again

Fresh selling can initiate only close below 628 only.

Trade with levels only

Jeera 

Support at 17800 and resistance at 18400.

Close below 17800 will see further downside panic till 17350---17050 else it could touch its resistance level of 18400 again.

Trend- Sideways 

RM Seed 

We are in bearish mode from 3700 and it touched a fresh low of 3624 today.

Support is at 3620 and resistance is 3700

Close below 3620 will take it to 3580---3530 and then 3500 mark else could touch its resistance of 3700 again

Fresh buying can be initiated only above 3700 mark.

Trade in a range with levels only and be cautious at lower levels.

Turmeric

Crucial support at 5550---5430 and resistance is 5720---5900.

Looks weak and any close below 5550 will take it to 5470---5430 mark else could touch its resistance level of 5720.

Fresh buying only can be seen above 5720 mark.

So be careful while trading in Turmeric. Only trade with levels.

Cocudakl (June)

Support seen at 1890 and resistance is at 1965---1990.

Looks weak and close below 1890 will take it to 1845---1820 mark else it may test its resistance of 1965 again.

Fresh buying can be initiated only above 1965.

Trend- Sideways Lower

Mentha oil (May)

Support at 915 and resistance at 968

Looks weak and close below 915 will take to 890---875 mark else it could test its resistance level of 968 again.

Buying only can be seen above 968 mark.

Trade with levels only

CPO (May)

We are bullish from 505 and touched a high of 525.8 yesterday.

Now what to expect???

Support is 510 and resistance is 532.

Close above 526 will see more upside rally till 529---532+++ mark else it could test it's support again.

Revise stop loss below 521 on closing basis

Trade with levels only.

More will update soon!!

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कमोडिटी बाजार : एग्री कमोडिटी : खरीफ दलहन की बुआई शुरू, तुअर सहित मूंग और उड़द का रकबा पिछले साल से आगे

2016-17 सीजन के दौरान पैदा हुए दलहन का किसानों को कम भाव मिलने के बावजूद ऐसा नहीं लग रहा है कि इस साल किसान दलहन की खेती से किनारा कर सकते हैं, कम से कम दलहन खेती के शुरुआती आंकड़ों से तो इस तरह के संकेत ही मिल रहे हैं। केंद्रीय कृषि मंत्रालय की तरफ से जारी हुए खरीफ दलहन बुआई के ताजा आंकड़ों के मुताबिक अबतक देशभर में दलहन की जितनी भी खेती हुई है वह पिछले साल के मुकाबले आगे है।

आंकड़ों के मुताबिक 17 मई तक देशभर में कुल 77,000 हेक्टेयर में दलहन की खेती दर्ज की गई है जबकि पिछले साल इस दौरान देश में 45,800 हेक्टेयर में बुआई हो सकी थी।

इस साल हुई कुल दलहन की खेती में अबतक करीब 4,000 हेक्टेयर में तुअर, 26,400 हेक्टेयर में खरीफ उड़द और 9,700 हेक्टेयर में खरीफ मूंग की बुआई है जबकि अन्य रकबे में दूसरे खरीफ दलहन की खेती हुई है। पिछले साल इस दौरान देश में 1700 हेक्टेयर में तुअर, 22,600 हेक्टेयर में उड़द और 7200 हेक्टेयर में मूंग की खेती हुई थी।

Source: MarketTimesTv

More will update soon!!

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कमोडिटी बाजार : एग्री कमोडिटी : कपास: पंजाब में 66% बढ़ा रकबा, हरियाणा में भी जोरदार बुआई

2016-17 सीजन के दौरान पैदा हुई कपास का किसानों को अच्छा भाव मिलने का असर इस साल कपास की बुआई पर साफ देखा जा रहा है। उत्तर भारत में 2017-18 सीजन के लिए कपास की खेती शुरू हो चुकी है और क्षेत्र के 2 प्रमुख कपास उत्पादक राज्यों पंजाब और हरियाणा में इस साल कपास की खेती में जोरदार इजाफा देखा जा रहा है। मार्केट टाइम्स को कृषि मंत्रालय से मिली जानकारी के मुताबिक 18 मई तक पंजाब में कपास का रकबा पिछले साल के मुकाबले 66 फीसदी आगे और हरियाणा में करीब 14 फीसदी आगे दर्ज किया गया है।

कृषि मंत्रालय के मुताबिक 18 मई तक पंजाब में 2.80 लाख हेक्टेयर में कपास की खेती दर्ज की गयी है, पिछले साल इस दौरान राज्य में सिर्फ 1.68 लाख हेक्टेयर में कपास की फसल लग पायी थी। सामान्य तौर पर पूरे सीजन के दौरान पंजाब में करीब 4.87 लाख हेक्टेयर में कपास की खेती होती है लेकिन इस साल राज्य में रकबा 5-6 लाख हेक्टेयर के बीच पहुंचने का अनुमान लगाया जा रहा है।

हरियाणा की बात करें तो वहां भी कपास की खेती में जोरदार बढ़ोतरी हो रही है, राज्य में 18 मई तक करीब 4.63 लाख हेक्टेयर में कपास की खेती दर्ज की गई है जिसमें 4.56 लाख हेक्टेयर बीटी कॉटन है और करीब 7000 हेक्टेयर में गैर बीटी कॉटन की खेती है। पिछले साल इस दौरान हरियाणा में 4.07 लाख हेक्टेयर में कपास की फसल लग पायी थी।

पूरे देश में अबतक हुई खेती की बात करें तो 18 मई तक देशभर में कुल 8.93 लाख हेक्टेयर में कपास की बुआई दर्ज की गई है जो पिछले साल की समान अवधि के मुकाबले करीब 33 फीसदी अधिक है। पिछले साल इस दौरान देश में 6.73 लाख हेक्टेयर में कपास की बुआई हुई थी।

दरअसल 2016-17 सीजन में पैदा हुई कपास का किसानों को अच्छा भाव मिला है, पंजाब और हरियाणा में कई मंडियों में किसानों ने 6,000 रुपये प्रति क्विंटल से ऊपर के भाव पर भी कपास की बिक्री की है। पिछले साल ज्यादा भाव मिलने की वजह से इस साल किसानों का रुझान कपास की खेती की तरफ बढ़ा है। 

Source: MarketTimesTv

More will update soon!!

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