MCX CPO prices gain on higher domestic demand

MCX CPO March future prices yesterday opened on a positive note and it traded up for most part of the day. The MCX CPO future prices closed higher on pick up in domestic demand. According to Solvent Extractors Association, palm oil imports in January are at 688,393 MT down by 12.6% on Mo-M. BMD the CPO futures at MCX may trade positively today on supply concerns amid higher domestic demand. The imports are likely to continue as is still the cheapest edible oil available in the domestic market.

Kapas futures on Indian exchanges traded in a narrow range and ended the day marginally down. Overall the sentiment was on  bearish side as the traders were on selling side as the consumption demand is meager across major spot markets. Exporters were away from active buying due to limited export enquiries as the China is not buying cotton in bulk quantity. On the other hand, China is releasing its stocks in the market at discounted price.

Money Maker Research NCDEX Tips 

Guar seed and Gum prices gain on imposed tax by Rajasthan Govt. @ NCDEX Agri Updates Moneymaker Research

Guar Seed and Gum April contract started on negative note followed by both traded mixed to positive bias and ended by posting a gain of 0.49% and 0.00% respectively On expectations of impose tax on guar complex by Rajasthan government.

Decreased in arrivals in key regions of Rajasthan supported the futures market positively. For upcoming trading session guar complex is likely to trade on range bound trend with positive bias as Rajasthan Government has decided to impose tax on guar gum which may show major impact on futures market.

@ Long Term investors can Buy Guar Seed around 2900 to 3000 targets 3300, 3500. you can hold it 2 month. 

MCX Copper Base Metals Trading Levels and Updates By Moneymaker

MCX Copper surpassed the levels of Rs 340 that was acting as psychological resistance. The prices are now under a free run toward s Rs 345 if profit booking doesn't chip in. The Metal closed at Rs 340.40 per kg on 7 March 2016 against Rs 339.20 per kg on 4 March 2016. With the breach of double top the prices are looking to move towards Rs 350 per kg in the medium term.

The prices tested levels of Rs 341.90 per kg as highs and Rs 338 per kg as a low. Volumes gained during the session. The holiday thinned session saw Copper declining to 26586 lots on 7 March 2016 against 67624 lots on 4 March 2016. Open interest declined to 13972 on 7 March 2016 against 13878 on 4 March 2016.

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