Wheat yesterday traded with the negative node and settled -0.02% down at 1169. According to the latest data of Food Corporation of India (FCI), wheat procurement was shrugged off by76.6% so far this year to 9.15 lakh tonnes against 37.88 lakh tonnes that were reported last year in the same period due to delay in harvest in Haryana and restricted selling in Madhya Pradesh.
You can also subscribe now and start earning profits on your investment in stock market.
Mcxtips || Shyam Advisory
The government had procured 37.88 lakh tonnes in the same period last year. In Delhi wheat prices dropped -6.6 rupee to end at 1168 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1165.2 after opening at 1165.2, and finally settled at 1169. For today's session market is looking to take support at 1165.5, a break below could see a test of 1161.9 and where as resistance is now likely to be seen at 1172.3, a move above could see prices testing 1175.5.
Trading Ideas:
Wheat trading range is 1161.9-1175.5.
Wheat yesterday traded with the negative node and settled -0.02% down
Wheat is having resistance at 1172.30 and support at 1165.50 level.
Wheat procurement was shrugged off by76.6% so far this year to 9.15 lakh tonnes against 37.88 lakh tonnes
In Delhi wheat prices dropped -6.6 rupee to end at 1168 rupees per 10 kg.
Mustardseed yesterday traded with the negative node and settled -0.69% down at 2740 on weak spot markets sentiment. Increased supply against fall in demand at physical markets mainly influenced trading sentiments pulling down mustardseed prices. Reduced off-take by oil mills and vanaspati ghee-making industries also put pressure on mustardseed prices.
The total arrivals of mustard seed decreased by 70000 bags from the previous day to 6.70 lakh bags in major mandies. In the Sriganganagar spot market in Rajasthan the price edged down by -7.5 rupee to 2520 rupees per 20 kgs. In yesterday's trading session Mustardseed has touched the low of 2715 after opening at 2750, and finally settled at 2740. For today's session market is looking to take support at 2720, a break below could see a test of 2700 and where as resistance is now likely to be seen at 2755, a move above could see prices testing 2770.
Trading Ideas:
Mustard Seed trading range is 2699-2769.
Mustardseed yesterday traded with the negative node on weak spot markets sentiment
Mustardseed looks to take support at 2720 and resistance at 2755.
NCDEX accredited warehouses mustard seed stocks rose by 3330 tonnes to 19356 tonnes.
In the Sriganganagar spot market in Rajasthan the price edged down by -7.5 rupee to 2520 rupees per 20 kgs.
Mcxtips || Shyam Advisory
Hi, i have just read your blog. It has very good marketing updated news. Thank you for sharing. I also want to share something.
ReplyDeleteMustardseed yesterday traded with the negative node and settled -0.83% down at 2976 due to profit booking. The total arrivals of mustard seed remained unchanged from the previous day to 70000 bags in major mandies. A poor European Union rapeseed crop is likely to blast a large gap in Europe's oilseeds supplies which could spell a business boost to other producers, especially Asian palm oil.
Regards,
commodity tips free trial $$ free mcx tips
Trend for Commodity 30-Jan
ReplyDeleteSILVER (5 MAR.) TREND: CONSOLIDATE
RES 1: 44650
RES 2: 45100
SUPP 1: 44000
SUPP 2: 43850
STRATEGY: BUY ON DIPS
free stock tips on mobile