From the morning time the cotton was trading in a down position. Globally cotton production fell around 5 percent to 26.3 mn tons. It may be rise around 18 million tons till July 2014.
Today the ncdex chana and soyabean seems bearish. As compared to the last year acreage of chana has increased to 34.78 lakh from 89.91 lakh. Soyabean support and resistance are 3790 and 3980.
Total export of oil meals during March 2013 reported as 430407 down by 32 percent as compared to last year. The production of Soyabean is remained unchanged in Argentina and Brazil.
Thursday, the yellow metal and white metal are going up. At 4:20 gold rose by 112 points to Rs. 26652 and Silver rose by 527 points to Rs. 44186, with these the base metals also looking bullish.
The energy products natural gas and crude oil increased near about 0.90 and 55 points against their previous close in the evening session. The mentha oil decreased by 33.30 points at 17980.
Future natural rubber is looking negative. In spot market it was traded at Rs. 162 a kilogram for RSS 4 variety and Rs. 158 a kg for RSS 5 variety and Rs. 152 kg for RSS 20 variety.
Silver
status buy above 44185
Target 44193 | 44218 | 44233 Stop Loss 44085
Crude oil
Status buy above 4927
Target 4943 | 4958 | 4973 Stop Loss 4847
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