16/10/2017
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Soybean futures trade marginally higher on short covering: Soybean futures traded marginally higher on NCDEX on short covering by the market participants hoping for higher demand for new season crop as prices are less than minimum support price. Further, expectations of lower arrivals in the spot market because of festival season in coming weeks too supported soybean prices’ uptrend.
Jeera futures exhibit trend on NCDEX:
mixed
Jeera futures exhibited mixed trend on NCDEX as the October contracts traded higher on rising domestic as well as export demand at the spot market, while November contracts traded lower due to ample stocks position following higher supplies from the producing regions.
Coriander futures edge lower on sluggish demand: Coriander futures edged lower on NCDEX as speculators trimmed their holdings, tracking sluggish demand in the spot market. Besides, higher supplies from major growing regions also weighed on coriander futures.
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TECHNICAL ANALYST
soyabean OUTLOOK: TREND: - DOWN RESISTANCE: - 3050, 3150 SUPPORT: - 2850, 2750 STRATEGY: - BUY ON LOW.
TECHNICAL OUTLOOK
The contract for October delivery was trading at Rs 2911.00, up by 0.52% or Rs 15.00 from its previous closing of Rs 2896.00. The open interest of the contract stood at 940 lots. The contract for November delivery was trading at Rs 2944.00, up by 0.72% or Rs 21.00 from its previous closing of Rs 2923.00. The open interest of the contract stood at 106050 lots on NCDEX.
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jeera
OUTLOOK: TREND: - DOWN RESISTANCE: - 19300, 19600 SUPPORT: - 18500, 18200 STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK The contract for October delivery was trading at Rs 19350.00, up by 0.05% or Rs 10.00 from its previous closing of Rs 19340.00. The open interest of the contract stood at 2460 lots. The contract for November delivery was trading at Rs 18975.00, down by 0.52% or Rs 100.00 from its previous closing of Rs 19075.00. The open interest of the contract stood at 10416 lots on NCDEX.
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dhaniya
OUTLOOK: TREND: - DOWN RESISTANCE: - 5050, 5150 SUPPORT: - 4650, 4550 STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK The contract for October delivery was trading at Rs 4459.00, down by 0.65% or Rs 29.00 from its previous closing of Rs 4488.00. The open interest of the contract stood at 1020 lots. The contract for November delivery was trading at Rs 4873.00, down by 1.34% or Rs 66.00 from its previous closing of Rs 4939.00. The open interest of the contract stood at 27410 lots on NCDEX.
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rmseed
OUTLOOK: TREND: - DOWN RESISTANCE: - 3900, 4000 SUPPORT: - 3700,3660 STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK The contract for NOV delivery was trading at Rs 3806.00, down by 0.24% or Rs 9.00 from its previous closing of Rs 3815.00. The contract for DEC delivery was trading at Rs 3855.00, down by 0.34% or Rs 13.00 from its previous closing of Rs 3853.00.
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