NCDEX Weekly Agri Commodity Press Release Report by epicresearch 16 st January 2014
MENTHAOIL FUTURE
The reason behind the stable arrivals is farmers are still hoping that they might get remunerative value for their produce in the near term. Hence, they are holding back most of their produce. On the other hand, due to cold wave conditions, we are noticing that some local pharmaceutical companies showing interst to buy mentha oil stocks at the spot front.
CORIANDER FUTURE
Coriander futures are expected to trade higher on robust demand amid limited supplies in the physical market. The prospects of lower production due to lesser acreage this season could support market sentiment. Coriander acreage in Rajasthan was 128220 hectares for the current year which is 80 percent of total area of 158678 hectares in 2012-13. Still, the farmers are likely to bring their produce in huge quantities due to prevailing high prices.
JEERA FUTURE
Jeera futures may trade on a mixed note. Higher sowing this season may pressurize prices. However, demand from the overseas markets may support prices at lower levels. According to a circular issued by NCDEX there are some modifications made in the Quality specification.
SUGGESTION OF TODAY TRADING STRATEGY:
BUY DHANIYA FEB ABOVE 8150 TGTS 8180 / 8230 SL 8100
SELL DHANIYA FEB BELOW 8010 TGTS 7980 / 7930 SL 8060
SUGGESTION OF TODAY TRADING STRATEGY:
BUY CASTORSEED FEB ABOVE 4480 TGTS 4510 / 4560 SL 4430
SELL CASTORSEED FEB BELOW 4400 TGTS 4380 / 4330 SL 4450
SUGGESTION OF TODAY TRADING STRATEGY:
BUY CHANA FEB ABOVE 3140 TGTS 3170 / 3220 SL 3090
SELL CHANA FEB BELOW 3120 TGTS 3090 / 3040 SL 3170
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