Wednesday 24 June 2015

RM Seed market rises on short covering, open interest drops 5.77%

Agri Commodity Tips ,  Commodity free tips  , Commodity intraday tips , MCX Tips Services
Mustard Seed settled up by 0.84% at 4066 tracking firmness in spot demand amid short covering after prices dropped in last some session. Growers meanwhile continued bringing in more of the harvested crop for sale in the mandis of Rajasthan sensing that the downward price movement can continue for some more time. In May 2015, around 33% lower arrivals were recorded than May 2014, while in April 2015, it was lower by 37% versus April 2014. During May 2015, only 3.8 – 3.9 lakh ton mustard arrived in the main producing mandis – this is lesser by nearly 2 lakh ton from last year same period.
In the Alwar spot market in Rajasthan the price gained 47.95 rupee to 4177.8 rupees per 100kgs.Technically market is under short covering as market has witnessed drop in open interest by -5.77% to settled at 65270 while prices up 34 rupee, now Rmseed is getting support at 4015 and below same could see a test of 3964 level, and resistance is now likely to be seen at 4102, a move above could see prices testing 4138.

CapitalStars is a research house and an investment advisory company carrying out operations in the Indian Equities and commodity market. CapitalStras also ave-liable on Twitter , linkedin and facebook .Get real time advice for Agri Commodity TipsCommodity free tips  , Commodity intraday tips , MCX Tips Services and all market updates. For 2 Days Free Trial, please visit our site http://www.capitalstars.com Call at 0731-6790000, 6669900.

0 comments:

Post a Comment