SOYABEAN FUTURE
Soybean Feb futures traded on a positive note on Thursday tracking positive overseas markets as well as fresh soy meal
export demand. However, prices corrected marginally from higher levels on profit taking and settled 0.26% higher.
Arrivals of the new crop across India are reported at 183,000 bags on Thursday as against190,000 bags on Wednesday. SOPA has estimated production to be lower and has revised its output expectations to 122.34 lk tn from 129.83 lk tn
earlier.
GUARSEED FUTURE
After the recent rise in rates for Guarseed, profit booking at the higher levels brought some dips to the rising rates.
Traders are reportedly waiting for some more corrections in prices but the export demand is likely to pick up once,
some more corrections are there. Traders feel present rates are on the lower side. A strong Dollar vs Rupee could aide in the exports favorably.
TURMARIC FUTURE
Prices seem to find some strong support at these levels even as low trading activities prevented any strong upside
movement for the commodity. With new crop arrivals there, the uptrend has been limited. Traders however anticipate present rates are very low and some more recovery cannot be ruled out in coming days once exports start picking up
again.
CHANA FUTURE
Chana futures are expected to trade on mixed to negative note. Weak demand, higher sowing, favorable climatic
conditions, increasing imports as well as comfortable supplies may exert downside pressure on the prices. However,
weather concerns in north India may support prices at lower levels. Prices are trading near the MSP levels, thus, no sharp downside is expected.Sowing of Chana has picked up across the major growing states; weather conditions and
planting progress thereon are the crucial factors to be watch for here onwards.
SUGGESTION OF TODAY TRADING STRATEGY:
BUY CHANA FEB ABOVE 3130 TGTS 3230, 3330 SL 3000
SELL CHANA FEB BELOW 3040 TGTS 2940, 2840 SL 3180
SUGGESTION OF TODAY TRADING STRATEGY:
BUY CASTORSEED FEB ABOVE 4420 TGTS 4520,4620 SL 4280
SELL CASTORSEED FEB BELOW 4250 TGTS 4150,4050 SL 4390
SUGGESTION OF TODAY TRADING STRATEGY:
BUY DHANIYA FEB ABOVE 8235 TGTS 8335,8435 SL 8100
SELL DHANIYA FEB BELOW 8010 TGTS 7910,7810 SL 8150