NCDEX Updates: RM Seed futures closed lower; Dhaniya futures fall

rmseedRM Seed futures closed lower due to subdued demand from oil crushers. In the recent weeks, mustard prices are moving in sideways to lower on anticipation of good oil seed production in the kharif season. Moreover, most of the stockiest were refrained to buy at higher prices. However, scarcity of stocks in mandis due to lean season, ahead of festival season amid limited arrivals, limited major fall. According to trading sources, arrivals of mustard seed were pegged at 70,000 bags on Friday, unchanged from the previous day. RM Seed trade ended the day at Rs. 4889 per quin which is approx 1.73% down against its previous close. We recommend sell RM Seed futures during today’s trading session.

dhaniyaDhaniya futures fall ahead due to imposition of 5% special cash margin on long position from Monday. The margin will be effective on all running and yet to be launched contracts. The total margin after the special cash margin would be 10% on long positions, and 10% on the short side. Coriander futures may trade up due to limited supply in the physical market and on expectations of lower acreage in the upcoming season. As per trade source, farmers are staying away from sowing coriander due to record high prices in other crop such as chana and jeera. Dhaniya trade ended the day at Rs. 8113 per quin which is approx 2.08% down against its previous close. We recommend sell Dhaniya futures during today’s trading session.

Market breadth ended strong,

Stock TipsMarkets trimmed early gains to end flat on concerns that implementation of the landmark GST Bill which is seen as a game changer for the economy will be challenging and near-term growth could take a backseat. The Sensex ended up 17 points at 27,714 and the Nifty settled 6 points higher at 8,551. In the broader markets, the BSE Midcap and Smallcap indices ended up 0.4% each. Market breadth ended strong with 1436 gainers and 1264 losers on the BSE. The GST regime would be a historic economic reform, making the country a unified market. When the GST regime comes into force, it will subsume a slew of indirect central taxes, including excise duty, service tax, countervailing duty and those of the states, such as value added tax, sales tax, luxury tax and octroi.


BUY PRICOL ABOVE 122.50 TARGET 123.70, 124.90, 126.10 STOPLOSS 120.10.


Market indices ended nearly 1% lower, trading tips

Market indices ended nearly 1% lower, amid weak global cues, with FMCG major ITC leading the decline on worries that post the proposed amendments to the GST Bill would result in higher effective tax rate for the company. Investors are awaiting the outcome on the Goods and Services Tax (GST) constitutional amendment bill in Parliament. According to reports, the long-pending GST Bill is listed for consideration and passage in Rajya Sabha today amidst strong indications that the most far-reaching taxation reform would be supported by Congress and all other major political parties. The government is keen to get the GST Bill approved during the Monsoon Session of Parliament ending on August 12, 2016.


BUY JAYBARMARU ABOVE 161.60 TARGET 163.20, 164.80, 166.40 STOPLOSS 158.40.

BUY DELTACORP ABOVE 111.50 TARGET 112.50, 113.50, 114.50 STOPLOSS 109.50.

Markets ended flat after gains, Investment idea

mmr2Markets ended flat after gains in consumer-led stocks on expectations of the GST Bill and above normal monsoon forecast helped cap further downside.The Sensex ended down 21 points at 27,982 and the Nifty50 ended down 14 points at 8,623. In the broader market, the BSE Midcap and Smallcap indices ended down 0.6%-0.8% each. Market breadth ended weak with 1764 losers and 980 gainers on the BSE. On the macro-economic front, growth in the eight core sectors rose 5.2% in June, on the back of robust growth in coal and cement production. The index recovered from a five-month low in May, when it had grown 2.8%.


BUY GOODLUCK ABOVE 130 TARGET 131.50, 133, 134.50 STOPLOSS 128.50.

BUY INDIANB ABOVE 186.50 TARGET 188.30, 190.10, 191.90 STOPLOSS 182.90. 

Divya Sharma
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