COMMODITY OUTLOOK on Aluminum Market

Aluminum:-

The Aluminum is in long- medium- short-medium- term bull phase .Currently Aluminum is in strong uptrend and the trend is supported with good volume the open interest is not increasing with trend. The oscillator is showing buy signal for short term Aluminum is in hold long position. Support for the Aluminum is 137. Immediate resistance for Aluminum is 142.

aluminium

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Commodity Market – Rains dampen Diwali cheer for farmers

The continuing post-monsoon rainfall in October has caused damages to the harvest-ready kharif crop and increased pest incidence on high value horticulture crops. Low commodity prices and decline in per acre productivity due to erratic monsoons are turning a dampener this Diwali for the rural community.

rains-dampen-diwali-cheer-for-farmers

“The weather is driving farmers crazy. Afraid of increase in pest incidence due to excess moisture, farmers are spraying pesticides during the small intervals between rainfall even though the rain is washing it away immediately,” said Jagannath Khapre, president, All India Grape Exporters Association. Farmers also fear shortages of pesticides.

Soyabean crop harvest had just begun in Maharashtra, the second-largest producer of the oilseed.

Rainfall will affect crop quality thus reducing returns for farmers. MG Gunjkar, secretary, Latur APMC, said, “Soyabean harvest, which had recently begun, has come to a halt due to rainfall. There is the possibility of deterioration in quality, in which case, farmers may not be able to get even the government support price.”

Telangana has also seen excess rainfall in October. According to preliminary estimate of the state government, crops on 65,000 hectares have been damaged, of which, 53,000 hectares is cotton.

The state is the first to harvest cotton and prices have been ruling lower than the minimum support price due to high moisture content. In Karnataka, army worm has at tacked the kharif crop. “There has been a wild outbreak of army worm on maize, ragi and red gram.We anticipate losses of 20 per cent in maize,” said a Karnataka Agriculture Department official.

In Karnataka, kharif acreage has declined from 71.7 lakh hectares to 64 lakh hectares due to deficit rainfall. Low rains in June and July had caused yield losses of 25 per cent to 50 per cent depending upon the districts.Heavy rains, accompanied by gusty winds, since October 9 in South Bengal have affected vegetable and the kharif paddy in certain areas.

Pradip Mazumdar, agriculture advisor to Mamata Banerjee, said, “There has been some loss in kharif paddy crop which is yet to be harvested. The government is yet to make an assessment of the crop loss as the region is witnessing scattered rains. We are afraid that Damodar Valley Corporation may release water due to heavy showers in Jharkhand. If that happens, the crop loss will be more. Let us first assess the situation and come up with the numbers.”

In August, heavy showers had flushed away paddy seeds from fields in Burdwan, Hooghly, Nadia, Purulia, East Midnapore and East Midnapore.

 

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STARINDIA Research NCDEX PREMIUM UPDATE

UPDATE:-

KINDLY BOOK PARTIAL PROFIT IN TURMERIC BUY CALL ON FIRRREEEEEEEEEE, 2ND TGT 7390 HAS ACHIEVED. PROFIT RS. 6000/- IN 2 LOTS

turmeric

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STARINDIA Research MCX Base Metal UPDATE

UPDATE:-

KINDLY BOOK PARTIAL PROFIT IN COPPER SELL CALL 1ST TGT 424.50 HAS ACHIEVED. PROFIT RS. 3000/- IN 2 LOTS

base-metals-nickel-copper-down-on-weak-demand

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कच्चे तेल में उबाल, सोना 1300 डॉलर के पार

जियोपोलिटिकल तनाव के बीच अंतर्राष्ट्रीय बाजार में कच्चा तेल 3 फीसदी उछलकर 59 डॉलर प्रति बैरल के पार निकल गया है। कच्चा तेल इस साल के शिखर पर दिख रहा है। वहीं, सोने में भी तेजी देखने को मिल रही है और इसकी कीमत 1300 डॉलर के पार निकल गई है।

सोने में आई कमजोरी, कच्चे तेल में तेजी

स्टार इंडिया रिसर्च की निवेश सलाह

सोना एमसीएक्स: खरीदें – 29900, स्टॉपलॉस – 29750 और लक्ष्य – 30300

कच्चा तेल एमसीएक्स: खरीदें – 3360, स्टॉपलॉस – 3300 और लक्ष्य – 3450

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Commodity,MCX Market Updates – Base metals: Nickel, copper slide on low demand

Nickel prices were down by 1.02 per cent at Rs 679.90 per kg in futures trade today as participants locked in gains amid subdued demand at the spot market.

At Multi Commodity Exchange, nickel for delivery in the current month was trading lower by Rs 7, or 1.02 per cent, to Rs 679.90 per kg in a business turnover of 1,186 lots.

base-metals-nickel-copper-slide-on-low-demand

The metal for delivery in October also lost Rs 6.80, or 0.98 per cent, to Rs 686.40 per kg in a turnover of 70 lots.

Analysts said the fall in metal in futures trade is mostly attributed to profit-booking at the existing levels and muted demand at the domestic spot market.

Copper
Copper prices drifted lower by 0.17 per cent to Rs 422.85 per kg in futures trade today as speculators cut down their positions, tracking a weak demand at the spot market.

At Multi Commodity Exchange, copper for delivery in November fell by 70 paise, or 0.17 per cent, to Rs 422.85 per kg in a business turnover of 1,116 lots.

Similarly, the metal for delivery in far-month February declined by 65 paise, or 0.15 per cent, to Rs 427.30 per kg in 14 lots.

Marketmen attributed the fall at futures trade to offloading of positions by participants due to muted demand at the domestic spot market.

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Commodity Market Trends

  R1 S1
GOLD 29900 29400
SILVER 40800 39400
NICKEL 744                655
CRUDE 3315 3150
COPPER 429 415
LEAD 165 150
ALUMINIUM 142 134
ZINC 204 195

 

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