Commodity Outlook for Turmeric by KediaCommodity

TurmericTurmeric yesterday we have seen that market has moved 0.18% helped by limited stocks in the spot markets, but a reviving monsoon expected to help sowing and boost output limited the upside. Good rains are helping sowing and pressuring prices. In Nizamabad spot prices settled ended at 14764 rupees per 100 kg. Market has opened at 14640 & made a low of 14640 versus the day high of 14790. The total volume for the day was at 2240 lots and the open interest was at 6480.Support for turmeric is at 14610 below that could see a test of 14550. Resistance is now seen at 14760 above that could see a resistance of 14850.

Trading Ideas:

Commodity Outlook for Chana by KediaCommodity

ChanaChana dropped Rs 11 and settled at Rs 2269 per quintal on a slight drop in demand and as good rainfall over kharif pulses growing areas accelerated sowing. Rainfall has accelerated sowing of kharif pulses in major growing area. In the Delhi spot market, chana fell by 8 rupees to 2,192 rupees per 100 kg. The volume was noted at 45620 lots. Support for chana is at 2260 below that could see a test of 2252. Resistance is now seen at 2282 above that could see a resistance of 2296.

Trading Ideas:

Chana trading range is 2261-2305.

Chana ended down on a slight drop in demand

Commodity Outlook for Soyabean by KediaCommodity

SoybeanSoyabean yesterday we have seen that market has moved 0.36% as keeping its low level buying momentum going. Sowing is going steadily in leading soybean producing state Maharashtra and spells of rainfall in Madhya Pradesh may also dampen the sentiment in soybean prices. In the Indore spot market, soybean rose by 11 rupees to 1,916 rupees per 100 kg. Market has opened at 1944 & made a low of 1937 versus the day high of 1965. The total volume for the day was at 37580 lots and the open interest was at 124100.Support for soyabean is at 1940 below that could see a test of 1924. Resistance is now seen at 1968 above that could see a resistance of 1980.

Trading Ideas:

Commodity Outlook for Mentha Oil by KediaCommodity

Mentha OilMentha oil July contract dropped Rs -0.3 and settled at Rs 705.4 a kg. The contract made intraday low of Rs 703 a kg and high of Rs 712.5 a kg with the volume of 1971 and total open interest for the same contact was at 4545.Now support for the menthol is seen at 701.4 and below could see a test of 697.5. Resistance is now likely to be seen at 710.9, a move above could see prices testing 716.5.

Menthol Oil trading range is 695-714.

Mentha oil spot is at 773/-. Spot is down by Rs. 4/-.

Resistance for the mentha oil is at 710.90.

Mentha oil looks to take support at 701.40

Commodity Outlook for Pepper by KediaCommodity

PepperPepper August delivery gained Rs 106 and settled at Rs 19039/quintal on export demand though profit-booking later in the session limited gains. Pepper prices had gained 6 percent in four sessions ending Friday. Spot prices in the key Kochi market rose by more than 275 rupees to be at 18596 rupees per 100 kg. The contract touched the intraday high of Rs 19170/quintal while low of Rs 18932/quintal. Now support for the pepper is seen at 18924 and below could see a test of 18809. Resistance is now likely to be seen at 19162, a move above could see prices testing 19285.

Trading Ideas:

Pepper trading range is 18714-19190.

Commodity Outlook for Guar by KediaCommodity

GuarGuar yesterday we have seen that market has moved 0.16% as good demand for guar gum and thin arrivals in

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