Showing posts with label maize trading tips. Show all posts
Showing posts with label maize trading tips. Show all posts

Monday, 19 September 2016

Resistance seen at 1518 for NCDEX Maize

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Maize on NCDEX settled up 1.01% at 1495 tracking firmness in spot demand despite weak trend in overseas prices amid harvest of all-time high U.S. crops. The USDA reported weekly export sales of 2016/17 U.S. corn at 703,500 tonnes, below a range of trade expectations for 800,000 to 1,100,000 tonnes. In India, maize has been sown in around 83.15 lakh hectares which is higher than 75.06 lakh hectare covered during corresponding period last year. In Karnataka, it has been sown in 12.62 lakh hectare which is higher than 10.16 lakh hectare covered during corresponding period last year while in Maharashtra; it has been up by 1.64 lakh hectares to 9.20 lakh hectares.

Stock declines are the largest in Argentina and the EU, with the former reflecting expectations of larger exports during 2015/16. Global corn stocks, at 219.5 million, are down from last month but still projected to be record high. Technically market is under fresh buying as market has witnessed gain in open interest by 3.52% to settled at 3820 while prices up 15 rupee, now Maize is getting support at 1472 and below same could see a test of 1449 level, and resistance is now likely to be seen at 1518, a move above could see prices testing 1541.

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Thursday, 19 March 2015

MAIZE WITNESS UP BY 1.81% AT 1240 IN SPOT DEMAND

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Maize settled up by 1.81% at 1240 tracking firmness in spot demand and overseas prices. U.S. and world corn supplies are projected to be smaller than expected by the end of the marketing year due to rising export demand, . Maize trading range for the day is 1203-1267.
As per the second estimates, India is expected to produce 22.97 million tonnes of maize, which is 1.29 million tonnes (5.3 per cent) lower than last year production, the report said. Kharif production is estimated at 16.46 million tonnes and Rabi at 6.51 million tonnes, as area under Maharashtra, Andhra and Karnataka have declined.  In Nizamabad maize prices gained 11 rupee to end at 1297.5 rupees per 100 kg.Technically market is under fresh buying as market has witnessed gain in open interest by 7.23% to settled at 5190, now Maize is getting support at 1222 and below same could see a test of 1203 level, and resistance is now likely to be seen at 1254, a move above could see prices testing 1267.

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Monday, 5 January 2015

FRESH BUYING SEEN IN MAIZE, OPEN INTEREST UP 17.46%

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  • Maize settled up 0.24% at 1251 tracking firmness in spot demand. Corn prices could come under additional pressure as South American farmers harvest expected bumper crops after largely favorable growing weather.
  • In Nizamabad market, maize prices dropped -2 rupee to end at 1342 rupees per 10 kg.
  • Technically market is under fresh buying as market has witnessed gain in open interest by 17.46% to settled at 4440 while prices up 3 rupee.
  • Now Maize is getting support at 1245 and below same could see a test of 1239 level, and resistance is now likely to be seen at 1257, a move above could see prices testing 1263.



Friday, 2 January 2015

MAIZE TRADING RANGE 1244-1252, DOWN AT 1248

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  • Maize settled down by -0.4% at 1248 tracking weakness in spot demand amid lack of direction from overseas prices. As per ministry of agriculture, maize have been sown in 9.73 lakh hectares as on now during Rabi season, higher by 0.05 lakh hectares as compared to last year. 
  • In Nizamabad market, maize prices dropped -2 rupee to end at 1342 rupees per 10 kg.
  • Technically market is under fresh selling as market has witnessed gain in open interest by 5.88% to settled at 3780 while prices down -5 rupee.
  • Now Maize is getting support at 1246 and below same could see a test of 1244 level, and resistance is now likely to be seen at 1250, a move above could see prices testing 1252.