NCDEX ( Agri ) research updates for 01 June 2015

NCDEX Jeera Bullish On Rising Exports

NCDEX Jeera June contract may trade bullish for both short term and intra day. Short term support for NCDEX Jeera June contract is seen at 16800 and resistance at 18500. For intra day, support is at 17500 and resistance at 17700. The Jeera crop has been affected due to unseasonal rains in growing regions mainly in Rajasthan. Regular demand from stockists had been noted but got adversely affected at these higher levels. There will not be any direct impact of Monsoon progress on Jeera as sowing is far away for the commodity. However it may affect the market sentiments to some extent depending on the arrival and the progress of Monsoon towards the growing states of Gujarat and Rajasthan.

NCDEX Guargum To Trade Side Ways

Guar short term trend will be impacted by the Monsoon report. Rainfall prospects will be a key driving factor in upcoming sessions. Guar being a rain-sensitive crop, adequate amount of rains are required for the crop. Prospects of lower production this year along with rising Crude Oil prices, leading to improved export demand could support price in near term. Guargum June contract is likely to trade side ways for both short term and intra day at NCDEX. Short term support is seen at 10500 and resistance at 11900. Intra day support is seen at 11050 and and resistance at 11200. Considering lower stock in Demat and lower arrivals in mandis, the price outlook remains bullish for guar meal and guar seed in upcoming weeks. 

NCDEX Coriander Continues Bullish Streak

Coriander futures are likely to trade higher on low availability of good quality spice and robust demand from bulk buyers. However, imposition of an additional margin may control the volatility in coriander prices. NCDEX has imposed an additional cash margin of 5 percent on long and short positions in all coriander contracts, the exchange said in a release. NCDEX Coriander June futures may trade bullish for both for short term and intra day with Short term support at 12400 and resistance - 13900, Intra day support is at 12800 and resistance at 13000. NCDEX Coriander June contract has been trading up by 1.52 per cent to 13190 levels on Monday. Coriander stocks at NCDEX warehouses increased to 16820 tonnes on 28th May, from 16810 tonnes previous day. 

NCDEX ( Agri ) research updates for 01 June 2015 NCDEX ( Agri ) research updates for 01 June 2015 Reviewed by Money99 on 18:18:00 Rating: 5

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