Commodity Market Updates Report, 3-3-16

Market Updates

Refined soya oil prices rised up by 0.22% to Rs 599.55 per 10 kg in futures market today.

At NCDEX, Refined Soya oil for delivery in Mar rose high by 0.22% or Rs. 1.30, and reached Rs 599.55 per 10 kg with an open interest of 31,030 lots.

Daily Market Updates:

S.No	Commodity	Contract	Support	Resistance	Recommendation
1	Nickel MCX	Mar-16	585.90	597.10	Sell @ 595-596, TP 580, SL 605
2	Copper MCX	Apr-16	326.60	329.30	Trading Range 325-331
3	Zinc MCX	Mar-16	121.8	122.9	Sell @122.80-122.90 TP 121.20 SL 123.80
4	Soyabean NCDEX	Mar-16	3577	3636	Sell @ 3625-3630 TP 3570 SL 3660
5	Soyabean CBOT	Mar-16	858	864	Sell @ 864, TP 857, SL 867
6	Maize NCDEX	Mar-16	1431	1450	Buy @1430-1428, TP 1460 SL 1410
7	Cotton MCX	Mar-16	15828	15939	Sell @ 15950-15960 TP 15800 SL 16020
8	Kapas NCDEX	Apr-16	780	787	Sell @ 788-789 TP 765 SL 800
9	Gold Comex	Apr-16	1232.8	1247.3	Sell @ 1243-1244 TP 1228 SL 1251
10	Gold MCX	Apr-16	29198	29428	Sell @ 29490-29500 TP 29100 SL 29640

Commodity Market updates today, on 23-2-2016

India's overseas gold purchases are likely to fall to 25 tonnes in February.

In 2013, India imposed a record by taking high duty of 10% on gold imports. However, the duty only helped the return of smugglers.
 
India's Gold imports are likely to reduce to over 2 year low in Feb. Industry experts told that surge in prices and hopes of import tax cuts are what keep the buyers away.

According to the estimation that India's overseas gold purchases are likely to fall to 25 tonnes in February. The news is positive for the Narendra Modi government as the imports cost the country $36 billion in 2015.

Daily Market Report:

S.No	Commodity	Contract	Support	Resistance	Recommendation
1	Cardamom MCX	Mar-16	669	682	Sell @ 680-681, TP 660, SL 691
2	Sugar ICE	Mar-16	12.49	12.74	Sell @ 12.75-12.80, TP 12.30, SL 13.15
3	Sugar NCDEX	Mar-16	3068	3100	Sell @ 3100-3105, TP 3050, SL 3130
4	Soyabean NCDEX	Mar-16	3708	3775	Sell @ 3765-3770, TP @ 876, SL @ 885
5	Soyabean CBOT	Mar-16	882	888	Sell @ 882, TP 876, SL 885
6	Maize NCDEX	Mar-16	1356	1360	Sell @ 1363-1364, TP 1340, SL 1372
7	Cotton MCX	Feb-16	16238	16319	Sell @ 16310-16320, TP 16100, SL 16420
8	Kapas NCDEX	Apr-16	772	777	Sell @ 780-781, TP 765, SL 786

Wholsale Price fall's in the month of January

Wholesale prices fell for a 15th straight month in January, declining an annual 0.90 percent, driven down by tumbling oil prices, government data showed on Monday.

The pace of fall, however, was slower than a 0.15 % annual decline forecast by economists in a poll. In December, the index fell a tentative 0.73 percent.

The wholesale fuel costs dropped 9.21 % from a year ago in January, while prices of manufactured goods declined 1.17 % year on year.

Food prices last month, however, gained 6.02 % year-on-year, compared with a provisional 8.17 % gain in December.