Moneymaker Financial Services Pvt Ltd NEWS HEADLINES
CASTOR SEED: Castor seed price is low due to heavy supply in key growing areas across the country also added the bearishness to the market. As per recent crop estimation, India is likely to grow around 14.20 lakh MT of castor seed for the year 2016- 17. This production is 6.1 lakh MT higher against last estimation and 7,000 MT higher compared to last year 2015- 16. It may prompt futures prices to trade at lower level. However, price recovery may witness due to reduction in castor seed acreages which may create positivity to the market. Castor trade ended the day at Rs. 3976 per quintal which is approx 0.48% low against its previous close. We recommend sell Castor futures during today’s trading session.
TURMERIC: Turmeric futures closed lower last week on anticipation of better supplies of new turmeric crops. However, good up country demand and buying interest among the stockists may keep the prices volatile. Turmeric may trade sideways on anticipation of good supplies from the new season crop and demand is still wanting from up-country buyers. Turmeric trade ended the day at Rs. 6652 per quintal which is approx 0.69% low against its previous close. We recommend sell Turmeric futures during today’s trading session.
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Moneymaker Financial Services Pvt Ltd PIVOT TABLES
SCRIP
R2
R1
S1
S2
STRATEGY
MENTHA OIL ( FEB )
1044
1032
1001
985
SELL ON HIGH
CARDAMOM ( FEB )
1468
1452
1418
1400
SELL ON HIGH
SOYBEAN ( FEB )
3091
3061
2996
2961
SELL ON HIGH
RM SEED ( APR )
3881
3851
3776
3741
SELL ON HIGH
GUAR SEED ( FEB )
3312
3282
3207
3172
SELL ON HIGH
DHANIYA ( APR )
7610
7550
7410
7340
SELL ON HIGH
JEERA ( MAR )
17980
17780
17440
17280
BUY ON DIPS
TURMERIC ( APR )
6772
6712
6592
6532
SELL ON HIGH
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Moneymaker Financial Services Pvt Ltd
CHART OF THE DAY
SELL MENTHA OIL FEB IN THE RANGE OF 1014-1010, WITH STOPLOSS OF 1028 FOR THE TARGETS OF 1000, 990.
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