Turmeric yesterday we have seen that market has moved -0.5% on profit-booking after prices rose in the last two sessions on hopes of higher sowing. Sowing is good in our area. Area under the spice may rise significantly this year. In Nizamabad spot market, turmeric gained 286 rupees to end at 15,518 rupees per 100 kg. Market has opened at 14848 & made a low of 14660 versus the day high of 14848. The total volume for the day was at 5765 lots and the open interest was at 7985.Support for turmeric is at 14624 below that could see a test of 14548. Resistance is now seen at 14812 above that could see a resistance of 14924.
Chana gained Rs 22 and settled at Rs 2370 per quintal on a pick-up in the spot demand of chana dal and lower rainfall in major kharif growing regions. Demand is good for chana dal. Arrivals are not significant. In Delhi spot market, chana gained 52 rupees to end at 2,284 rupees per 100 kg. The volume was noted at 182240 lots. Support for chana is at 2350 below that could see a test of 2331. Resistance is now seen at 2384 above that could see a resistance of 2399.
Soyabean yesterday we have seen that market has moved 1.71% bolstered by a weak rupee and concerns patchy rains over key soybean growing areas may hurt sowing and yields. In the Indore spot market, soybean climbed 28 rupees to 1,974 rupees per 100 kg. Market has opened at 2015 & made a low of 2010 versus the day high of 2055. The total volume for the day was at 87510 lots and the open interest was at 128350.Support for soyabean is at 2020 below that could see a test of 1993. Resistance is now seen at 2065 above that could see a resistance of 2083.
Mentha oil July contract dropped Rs 13.8 and settled at Rs 685.6 a kg on profit booking. On July 17th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 776,951 kg of which 742,413 kg is physical stock and 34,537 is the demat stock. The contract made intraday low of Rs 680.1 a kg and high of Rs 701.8 a kg with the volume of 3212 and total open interest for the same contact was at 4440.Now support for the menthol is seen at 676.5 and below could see a test of 667.5. Resistance is now likely to be seen at 698.2, a move above could see prices testing 710.9.
Pepper August delivery gained Rs 507 and settled at Rs 20690/quintal tracking firm international markets, robust domestic demand amidst lower supplies. Prices in the international market are holding firm. Globally, stocks are estimated to be lower. Spot pepper climbed 776 rupees to end at 20,341 rupees per 100 kg in Kochi. The contract touched the intraday high of Rs 20775/quintal while low of Rs 20250/quintal. Now support for the pepper is seen at 20368 and below could see a test of 20047. Resistance is now likely to be seen at 20893, a move above could see prices testing 21097.
Guar yesterday we have seen that market has moved 1.26% on concerns about the monsoon, good demand for guar gum and poor supplies. Patchy rains may hamper guar sowing. Lower rains in the major cultivating regions are supporting buying. In the Jodhpur spot market, guar gained 27 rupees to end at 2,416 rupees per 100 kg. Market has opened at 2520 & made a low of 2502 versus the day high of 2583. The total volume for the day was at 473530 lots and the open interest was at 186540.Now support for the guar is seen at 2520 and below could see a test of 2470. Resistance is now likely to be seen at 2601, a move above could see prices testing 2632.Axis Securities has retained its BUY call on Avenue Supermarts, the operator of the D-Mart chain, but cut its target price to Rs 4,210 from Rs 4,845 after a September quarter in which sales held up
News in Focus
Featured, India Business, Analyst View, Stock Markets, Avenue Supermarts, Axis Securities, India, Retail Sector
Axis Securities has issued a BUY call on Skipper Ltd, naming the transmission-tower and pole maker its Pick of the Week with a target price of Rs 595, about 10% above the Oct.
For the better part of a decade, India was the market every global gaming executive wanted to understand.
Stake has secured a license from the Alberta Gaming, Liquor and Cannabis Commission (AGLC), clearing the way for the operator to enter Alberta’s newly regulated iGaming market.
Tonybet has expanded its Canadian offering with the launch of online poker on October 6, adding a player-versus-player card game to a platform already built around sports betting, live casino, slot
Bulgaria’s regulated gambling market is expanding at a pace that has turned a policy debate into a public-health and fiscal question.
Main Regional Stories
Polymarket has escalated its fight to re-enter the Netherlands, filing a complaint in The Hague against a ban imposed by the Dutch Gambling Authority, the Kansspelautoriteit.
Anand Rathi Share and Stock Brokers has maintained its BUY call on Tata Consultancy Services with a 12-month target of Rs 2,430, about 17% above the current price of Rs 2,076.
Google Cloud has introduced Gemini Agent, positioning it as a “universal agent for work” that moves beyond conversational AI into delegated execution.
Featured, Analyst View, Futures & Options, Stock Markets, Banking Sector, India, Kotak Mahindra Bank, Prabhudas Lilladher
Prabhudas Lilladher has retained its BUY call on Kotak Mahindra Bank and raised its target price to Rs 500 from Rs 480, implying about 20% upside from the current market price of Rs 417.
