Gold-silver shine faded
The glow of gold and silver has faded. Gold has slipped below 49 thousand on MCX. Trading is also on decline in silver. Uncertainty is under pressure on the strength of the dollar and the relief package in the US.
Metals have also lost their sheen due to strong dollar and weak demand. Copper has lost about 1.5 percent on MCX. Nickel, lead and aluminum are also showing a decline of about one per cent each. There is also pressure on zinc. There is a weakness in crude due to demand concerns. Brent is close to $ 55. In China and the UK, there has been strong pressure on the corona.
Oil-oilseeds are seen shopping for the second consecutive day. Mustard is strong at around 2.5%. There is also shopping in soybeans and castors. But the CPO is trading at a decline. There is a weakness in other agri commodities except oil and oilseeds. Cotton has slipped below 21 thousand on MCX, while on NCDEX there is a fall in spices, cotton cake and guargam.
Return from budget to budget
If we look at the returns from budget to budget in Agri, CPO gave 23 percent, MUSTARD 29 percent, SOYABEAN 13.5 percent, CASTOR 9 percent and Chana 11 percent. GUAR GUM gave minus 12 percent and GUAR SEED gave minus 1.5 percent.
COTTON has given 10% while KAPAS KHALI has given 13%. At the same time, turmeric has given 5% return. Coriander has given minus 6.3 per cent and cumin minus 5 per cent in this period.
Investment advise by Manoj Jain of Prithvi Finmart
BUY CORIANDER APR 6050 TGT 6500 SL 5880
BUY JEERA MARCH 13200 TGT 14200 SL 12850
BUY TURMERIC ARP 6350 TGT 6700 SL 6180
Rupa Mehta’s investment advice from Smriti Commodities
SELL MUSTARD FEB 5540 TGT 5400 SL 5600
SELL CPO FEB 950 TGT 920 SL 972
Investment advice by Anuj Gupta of Angel Broking
SELL SOYABEAN FEB 4620 TGT 4400 SL 4720
BUY CASTOR SEED FEB 4350 TGT 4550 SL 4250
BUY CHANA MARCH 4450 TGT 4700 SL 4300
BUY GUAR GUM FEB 6100 TGT 6400 SL 5900