Turmeric yesterday we have seen that market has moved 1.67% on poor stocks and squeezed supply in the market as farmers held back their produce on hopes of higher prices. In Nizamabad, a major spot market in Andhra Pradesh, the price gained 54 rupees to end at 14,830 rupees. Market has opened at 14770 & made a low of 14620 versus the day high of 15220. The total volume for the day was at 14210 lots and the open interest was at 10210.Support for turmeric is at 14655 below that could see a test of 14338. Resistance is now seen at 15255 above that could see a resistance of 15538.
Chana gained Rs 7 and settled at Rs 2173 per quintal on value buying supported by wedding demand but estimates of higher output and sufficient stocks weighed. Wedding demand is restricting sharp fall in chana prices but sellers become active at every rise on hopes of higher production. In Delhi spot market, chana inched down 4 rupees to end at 2,121 rupees per 100 kg. The volume was noted at 58990 lots. Support for chana is at 2156 below that could see a test of 2140. Resistance is now seen at 2187 above that could see a resistance of 2202.
Soyabean yesterday we have seen that market has ended steady as prices pared early gains on appreciation in the rupee. Soybean traded earlier in the day due to improvement in local demand and lower output estimates. At the Indore spot market in top producer Madhya Pradesh, soybean climbed 17 rupees to 1,993 rupees. Market has opened at 2023 & made a low of 2017.5 versus the day high of 2039.5. The total volume for the day was at 54090 lots and the open interest was at 110080.Support for soyabean is at 2012 below that could see a test of 2004. Resistance is now seen at 2034 above that could see a resistance of 2048.
Mentha oil June contract gained Rs 17.1 and settled at Rs 721.2 a kg on robust lower-level buying. Brisk importers' demand in the physical market triggered good buying. Prices gained up to rs 10 a kg in spot markets. The contract made intraday low of Rs 703.1 a kg and high of Rs 724.9 a kg with the volume of 2174 and total open interest for the same contact was at 2313.Now support for the menthol is seen at 707.9 and below could see a test of 694.6. Resistance is now likely to be seen at 729.7, a move above could see prices testing 738.2.
Pepper June delivery gained Rs 87 and settled at Rs 17199/quintal on local demand and slack arrivals as farmers awaited higher prices. Supply in the spot market is weak because farmers are expecting prices to touch 18,000 rupees per 100 kg. Spot pepper gained 196 rupees to end at 16,873 rupees per 100 kg in Kochi. The contract touched the intraday high of Rs 17360/quintal while low of Rs 17080/quintal. Now support for the pepper is seen at 17066 and below could see a test of 16933. Resistance is now likely to be seen at 17346, a move above could see prices testing 17493.The realm of Norwegians roads is poised for a transformative change as the number of all-electric vehicles (BEVs) is expected to surpass the number of conventional gasoline-powered vehicles by the
News in Focus
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