commodity daily report 11 nov 2016

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TURMERIC:-

Turmeric futures recovered on thursday due to technical bounce from the lower levels. There are

reports of good production from new season crops pressurize the prices earlier. Expectations of pickup

in domestic demand in coming days may support the turmeric futures to trade higher. Despite lack of

upcountry orders currently, traders are procuring medium quality stock quoting higher prices.

However, prospects of higher crop output may cap the gains for turmeric futures. Turmeric trade

ended the day at Rs. 7186 per quin which is approx 0.62% up against its previous close. We

recommend buy Turmeric futures during today’s trading session.

MENTHA OIL:-

Mentha oil November futures opened negative and traded downside whole day by taking cues from

surgical strike on black money by government. At the end of the day it closed negative only. According

to local sources, arrivals are less in the in the major spot markets of Uttar Pradesh. From demand front,

due to rising demand stockists have started hoarding of mentha oil which will drag the prices upside.

On the flip side, India has massive carryover stocks from the last year which might limit the upside.

Soybean trade ended the day at Rs. 915 per kg which is approx 2.26% down against its previous close.

We recommend sell Mentha oil futures during today’s trading session.

NEWS HEADLINES



SCRIP

R2

R1 S1 S2 STRATEGY

MENTHA OIL (NOV)

935 925 903 891 SELL ON HIGHS

CARDAMOM (DEC)

1411 1396 1370 1358 BUY ON DIPS

SOYABEAN (DEC)

3119 3079 3004 2959 SELL ON HIGHS

RM SEED (DEC)

4730 4680 4570 4510 SELL ON HIGHS

GUAR SEED (DEC)

3343 3288 3178 3113 SELL ON HIGHS

DHANIYA (DEC)

7770 7670 7450 7330 SELL ON HIGHS

JEERA (DEC)

17285 17165 16945 16845 SELL ON HIGHS

TURMERIC (DEC)

7346 7266 7086 6986 BUY ON DIPS

PIVOT TABLES



CHART OF THE DAY

BUY TURMERIC DEC IN THE RANGE OF 7200-7220, WITH STOPLOSS OF 7100 FOR

THE TARGETS OF 7300 , 7400 .



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commodity daily report 11 nov 2016

Economy & Finance