17th SEP -21st SEP - Money Classic Research
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
17th SEP –21st SEP
WEEKLY MARKET WRAPUP
COMMODITY OPEN HIGH LOW CLOSE
JEERA 18850 17755 18850 19630
GUARSEED 4319 4362 4251 4267
DHANIYA 4710 4880 4578 4812
RMSEED 4060 4198 4051 4126
TURMERIC 6370 6586 6282 6470
MENTHA OIL 1794 1814 1712 1721
SYBEANIDR 3259 3315 3232 3285
Contact No. +91-903-977-7700 www.moneyclassicresearch.com
COMMODITY WEEKLY NEWS Indian's food grain acreage increase to 104.16 MH higher than previous year India's major food grain crops have been planted on 104.16 million hectares (MH) so far this kharif season against an estimated 103.95 million hectares last year. The area under Coarse Cereal, Cotton and Pulses has fallen, while acreage of Oilseeds, Rice and Sugarcane increased, according to agriculture ministry data.Rice, the most widely planted kharif crop, saw acreage rise to 2.29 per cent to 38.19 million hectares. This kharif season, production will be higher by over 3 per cent as the weather has been favorable. With dams nearly full in Andhra Pradesh, Telangana, Karnataka and Kerala. The government is optimistic of another bumper harvest with output to be similar to last year’s or better, as crop planting and the monsoon season are at the tail end. It also doesn’t expect floods to have any major impact on production. Indian Council of Agriculture Research director-general said kharif production would at least be similar to last year’s levels. It can even be better as current weather conditions and planting data are favorable. Planting continues across north-eastern states, largely of Rice. Global Crude Oil demand to top 100 mn bpd: IEA World oil consumption will top 100 million barrels per day (bpd) in the next three months, putting upward pressure on prices, although emerging market crises and trade disputes could dent this demand, the International Energy Agency (IEA) said.The Paris-based IEA maintained its forecast of strong growth in global oil demand this year of 1.4 million bpd and another 1.5 million bpd in 2019, unchanged from its previous projection.“Things are tightening up,” the agency that advises Western governments on energy policy said in its monthly report. “The price range for Brent of $70-$80 per barrel in place since April could be tested.”US sanctions on Iran's energy industry, which come into force in November, have already cut supply back to two-year lows, while falling Venezuelan output and unplanned outages elsewhere will also keep the balance between supply and demand tight, the IEA said.Demand from nations not in the OECD group of industrialised countries, led by China and India, is expected to rise by 1.1 million bpd to 51.6 mn bpd this year and by 1.2 mn bpd to 52.8 mn bpd next year, the IEA said.Global demand will hit a high of 100.3 mn bpd in the final quarter of this year, before moderating to 99.3 mn bpd in the first quarter of next year, the agency said. India's forward Cotton export contract more than doubles in 2018-19 India’s forward export contracts of cotton have more than doubled from about seven lakh bales in September 2017, driven by increased demand from China, lower domestic prices and depreciation of the rupee. Exports would go up in this financial year despite expected projections of tight supplies and increase in minimum support price (MSP) by the government, industry sources said."We have signed export contracts for 14-16 lakh bales (of 170 kg each). About 75% of these contracts are for export to China,” a top official of Cotton Association of India (CAI) said.“The 25% duty imposed by China on cotton imports from the USA will make Indian cotton more affordable to Chinese buyers,” the association said.Bangladesh and Vietnam are the other buyers that have signed some forward contracts for Indian cotton. Contact No. +91-903-977-7700 www.moneyclassicresearch.com
TECHNICAL UPDATE AND RESEARCHER VIEW
NCDEX SOYABEAN JULY 2018
WEEKLY OUT LOOK SOYABEAN JULY
TREND R2 R1 PP S1 S2
BULLISH 3,360 3,322 3,277 3,239 3,194
Contact No. +91-903-977-7700 www.moneyclassicresearch.comTECHNICAL UPDATE AND RESEARCHER VIEW
SOYABEAN NOV futures traded on Positive mode on last week.
It made a high 3315 level at NCDEX. NCDEX SOYABEAN NOV
during this week prices moved upward. For the next week we
expect upward. SOYABEAN NOV prices find support level in
range of 3239 levels.
RECOMMENDATION:
CALL BUY SOYABEAN NOV ABOVE 3320 TGT 3360/3400 SL 3260
Contact No. +91-903-977-7700 www.moneyclassicresearch.comTECHNICAL UPDATE AND RESEARCHER VIEW
NCDEX MENTHAOIL JUNE 2018
WEEKLY OUT LOOK MENTHAOIL JUNE
TREND R2 R1 PP S1 S2
BEARISH 1,851 1,786 1,749 1,684 1,647
Contact No. +91-903-977-7700 www.moneyclassicresearch.comTECHNICAL UPDATE AND RESEARCHER VIEW MENTHA OIL JUNE futures traded on Negative mode on last week. It made a low 1106 level at NCDEX. Mentha oil prices to find support 1110 RECOMMENDATION: CALL SELL MENTHA OIL SEP BELOW 1700 TGT 1660/1620 SL 1780 Contact No. +91-903-977-7700 www.moneyclassicresearch.com
DISCLAIMER
The information contained here was gathered from sources deemed reliable however;
no claim is made as to accuracy or content. This does not contain specific recommendations to
buy or sell at particular prices or time, nor should any examples presented be deemed as such.
There is a risk of loss in equity trading and you should carefully consider your financial
position before making a trade. This is not, nor is it intended, to be a complete study of chart
patterns or technical analysis and should not be deemed as such. Money Classic Investment
Advisors does not guarantee that such information is accurate or complete and it should not
be relied upon as such. Any opinions expressed reflect judgments at this date and are subject
to change without notice. For use at the sole discretion of the investor without any liability on
Money Classic Investment Advisors.
• MONEY CLASSIC INVESTMENT ADVISORS
• WEBSITE- WWW.MONEYCLASSIC RESEARCH.COM
• EMAIL- INFO@MONEYCLASSICRESEARCH.COM
• CONTACT NO. - (M) 9039777700, (0)0731-4094475
Contact No. +91-903-977-7700 www.moneyclassicresearch.comYou can also read
