Moderate firm trend was noted for Guar even as the uptrend was limited by clearer skies in Rajasthan which traders expect would be good for the crop at this stage. However, the recent crop damage concerns from floods in Rajasthan may prevent too much fall as exports too start rising with skies clearing up.
Firmness in Crude oil prices too supported market sentiments as exports continued to remain good and picked up further at these lower levels.
Expert Advice : Buy Guar Gum near Cost at 7700 to 7750 for target 7925, 8150 Stop Loss 7523.
Dhaniya futures are expected to trade in negative note for the day. Prices may trade slightly higher in the morning session due to profit booking at existing levels. However, we expect gains to be limited in anticipation of overall weakness in the market.
On supply front, arrivals are likely to decrease further in expectation of weaker carry-over stocks during the current session.
Turmeric futures are expected to trade in positive note for the day. Profit booking for recent sharp gains may result in downward trade initially during the day. However, fall is expected to be limited on the overall bullishness in the market.
Good buying activities at the spot market amid normal supplies and good export demand may support turmeric prices.