Post on 18-Mar-2016
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Pepper moves up in futures trade on spot demand
Pepper prices moved up by Rs 115 to Rs 34,575 per quintal
in futures trading today on speculative buying, tracking a
firm trend at spot market on pick up in demand. However,
expectations of higher output and weak export demand
capped the gain. At the National Commodity and
Derivatives Exchange, pepper for delivery in February
moved up by Rs 115, or 0.33 per cent to Rs 34,575 per
quintal with an open interest of 2872 lots. In a similar
fashion, the spice for delivery in March gained Rs 50 or
0.15 per cent to Rs 33,875 per quintal in 699 lots. Market
analysts said speculators enlarging their positions on pick
up in spot markets demand mainly led to rise in pepper
prices at futures trade.
EXPERT OPINION
STOCK S1 S2 R1 R2
CHANA 3,842 3,745 4,004 4,069
RM SEED 3,496 3,469 3,563 3,603
SOYABEAN 3,095 3,031 3,279 3,399
JEERA 14,198 14,016 14,703 15,026
TRADING TIP:
BUY CHANA JAN
ABOVE 3972
TGTS 4022/4092
SL 3912
SELL SOYBEAN
FEB BELOW
3151 TGTS
3101/3031
SL 3211
PRODUCT NAME
EXP DATE OPEN HIGH LOW CLOSE LTP CHG PERCENTAGE CHANGE
CHANA 7/19/2012 4556 4573 4525 4560 4532 -28 -0.61
CHILLI 7/19/2012 5060 5060 5018 5120 5018 -102 -1.99
GUR 7/19/2012 1188 1188 1178 1183.5 1178 -5.5 -0.46
JEERA 7/19/2012 14955 14960 14650 15052.5 14800 -252.5 -1.68
KAPAS 7/19/2012 1044 1053 1035 1049 1041 -8 -0.76
PEPPER 7/19/2012 42300 42555 42250 42390 42435 45 0.11
REF SOYA 7/19/2012 780.5 783.6 777.4 782.85 781.3 -1.55 -0.2
SOY BEAN 7/19/2012 4309 4330 4265.5 4303 4315 12 0.28
TURMERIC 7/19/2012 4600 4676 4518 4664 4540 -124 -2.66
WHEAT 7/19/2012 1251 1282 1251 1246 1282 36 2.89
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WEEKLY MARKET ANALYSIS
Pepper
Pepper futures rose on Friday tracking firm spot cues where winter demand supported prices
while lesser stocks also aided the upside. As of 0950 GMT, the most-active February pepper
contract on the National Commodity and Derivatives Exchange (NCDEX) was up 1.52 percent
at Rs 35,440 per 100 kg.Winter buying is supporting prices but higher output expectations
are seen capping a sharp upside, Angel Commodities said in a research note. Spot pepper
rose Rs 172 to Rs 38,117 per 100 kg in Kochi, a key market in Kerala. Pepper output is likely to
be higher next year due to expectations of good yields in the top producing states of Kerala
and Karnataka
Chilli
Red chilli offered unchanged at Guntur market of Andhra Pradesh on Friday. Meanwhile, red
chilli futures traded mixed. At Guntur cold storage teza seed variety quoted at Rs 7,000-
7,600 per quintal, Indo-5 at Rs 5,300 -5,800 per quintal, 334 quality at Rs 5,000-5,700 a
quintal, 273 quality at Rs 5,200-5,800 per quintal, byadagi quality at Rs 5,200-5,800 a
quintal, 334 phataki at Rs 2,000-2,500 per quintal. Cold storage red chilli arrival reported
around 45,000-50,000 bags (per bags 40 kg).
Turmeric
Turmeric futures fell on mounting stocks and slack exports though improved demand from
north India and expectations of lower output limited the downside. The April turmeric
contract on the National Commodity and Derivatives Exchange (NCDEX) was down 0.86
percent at Rs 6,716 per 100 kg."Stocks are very high and the new supply season is also
approaching. Prices may come down in the coming days as demand from overseas is not
strong," said Suresh Chowdhary, a trader from Nizamabad, a key market in Andhra Pradesh.
At Nizamabad, spot turmeric rose Rs 15.5 to Rs 5,695.5 per 100 kg.
Jeera
Jeera futures rose on some fresh overseas enquiries and hopes of further improvement in the
coming weeks due to limited stocks with the other producing countries, though higher area
under cultivation restricted the upside. Jeera is a winter crop for which sowing starts from
October. The March jeera contract on the NCDEX was up 0.52 percent at Rs 14,480 per 100
kg."Overseas enquiries are coming for Indian origin jeera as it is the major supplier in the
global market as of now with very limited stocks with other countries. At Unjha, jeera fell Rs
74.5 to Rs 14,594 per 100 kg. India is the world's top producer of jeera, or cumin seed,
followed by Syria and Turkey.
WEEKLY SOYABEAN CHART
ANALYSIS
OPEN: 3322
HIGH: 3335
LOW: 3151
CLOSE: 3160
SOYABEAN LOOKS DOWNWARDS
TREND: BEARISH
STRATEGY: SELL ON RISE
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WEEKLY CHANA CHART
ANALYSIS
OPEN: 3814
HIGH: 3972
LOW: 3810
CLOSE: 3940
CHANA LOOKS UPWARDS
TREND: CONSOLIDATED
STRATEGY: BUY ON DIPS
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