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MARKET WRAP
Turmeric up on short covering
Jeera ends up on low output estimates
Pepper surges on short covering
Soya bean, soy oil gains tracking global cues
Chana falls on subdued demand
Guar ends higher on firm demand
Potato surges on firm demand
Cardamom drops on higher arrivals
Turmeric price trend in the short term is likely to depend on the arrivals and demand
from the overseas and domestic buyers. Rising arrivals of Jeera at spot market amid
peak arrivals season are keeping the prices under pressure. weak overseas demand is
also adding to the down trend. Pepper prices will depend on demand from the overseas
and domestic buyers & will also take cues from prices in the international market of
various origins. Domestic traders and investors are likely to buy soybean futures
anticipating revival in demand for soybean and its processed products in the near term.
Limited supply of the produce because of lean season is likely to render support to the
market. The arrivals of Guar are witnessed across the spot markets exerting pressure
on the prices while the export demand for the commodity is bleak. The arrival pressure
of Chana from Rajasthan is expected to increase in April which might limit the gain in
prices.
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Phone- (0731)4295950
SOYABEAN (APR)
) TURMERIC (APR)
(APR
Trend • Consolidate Trend • Consolidate
Strategy • Buy on dips Strategy • Sell on highs
• R2 - 2450 • R2 - 10550
Resistance Resistance
• R1 - 2415 • R1 - 10350
• S1 - 2355 • S1 - 9950
Support Support
• S2 - 2300 • S2 - 9750
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