- Chana prices rose due to bargain buying while jeera declined on sluggish demand. Pepper prices fell due to profit booking.
- Guar fell and mentha oil traded lower due to weak demand. Cardamom and turmeric ended lower also due to profit booking.
- The newsletter expects guar seed and gum to fall further with rising arrivals while chana may rise due to festive demand. Soybean could fall on lean arrivals and subdued demand.
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Phone- (0731)4295950
MARKET WRAP
Chana up on bargain buying
Jeera declines on sluggish demand
Pepper ends down on profit booking
Soybean trades on mixed trend
Guar falls on profit booking
Mentha oil trades down on sluggish demand
Cardamom ends down on profit booking
Turmeric falls on weak exports
We expect the guar seed and gum to trade downside as increase in arrivals from stocks
across the spot markets this week is likely to pressurize the prices. Stockiest buying in
anticipation of the upcoming festive demand is likely to keep the futures positive. We
expect Chana to retain its uptrend as the ongoing demand across the spot market is
supportive for futures to trade upside. Soybean may be negative as the activities
across the domestic spot markets are very sluggish with lean season for arrivals and
subdued demand. The soy oil futures might recover from the fall while the gains might
be limited as the global supply concerns for the next year and prevailing demand for the
edible oils across the domestic markets are supportive for the prices. Jeera prices in the
intraday may trade negative due to weak trades at the domestic market. However, any
reports of crop damage & production of spice in Syria & Turkey might support prices in
the short term.
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4. info@capitalheight.com
Phone- (0731)4295950
SOYABEAN (JUNE)
) TURMERIC (JUNE
JUNE)
Trend • Consolidate Trend • Consolidate
Strategy • Sell on high Strategy • Sell on high
• R2 - 2390 • R2 - 7520
Resistance Resistance
• R1 - 2360 • R1 - 7360
• S1 - 2325 • S1 - 7180
Support Support
• S2 - 2300 • S2 - 7000
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