The trend in NCDEX coriander for August delivery is range bound and
5850-6200 is the likely range for the commodity. The commodity is likely
to witness short covering at current levels and break out of any of the
sides of the range 5850-6200 may give clear direction to the futures
movement.
NCDEX coriander for August delivery was seen trading up by 1.83% at Rs.6062 per 100 kgs as of 11.44 AM IST on Friday.
Coriander prices are likely to trade with a negative bias due to subdued demand from bulk purchasers. Lack of quality supplies in physical markets and ample carry over stocks may also weigh on the market sentiments.
On Thursday, the total coriander arrivals at major spot markets of Rajasthan increased to 5500 bags (1 bag=40 kgs), from 4200 bags recorded in the previous day. The prices of the spice in Kota traded at Rs.5800 per 100kgs.
As per the recent report from IMD, southwest monsoon has been vigorous over east Madhya Pradesh and south interior Karnataka. Heavy rainfall would occur at one or two places over Madhya Pradesh and coastal Karnataka, on Friday.
NCDEX coriander for August delivery was seen trading up by 1.83% at Rs.6062 per 100 kgs as of 11.44 AM IST on Friday.
Coriander prices are likely to trade with a negative bias due to subdued demand from bulk purchasers. Lack of quality supplies in physical markets and ample carry over stocks may also weigh on the market sentiments.
On Thursday, the total coriander arrivals at major spot markets of Rajasthan increased to 5500 bags (1 bag=40 kgs), from 4200 bags recorded in the previous day. The prices of the spice in Kota traded at Rs.5800 per 100kgs.
As per the recent report from IMD, southwest monsoon has been vigorous over east Madhya Pradesh and south interior Karnataka. Heavy rainfall would occur at one or two places over Madhya Pradesh and coastal Karnataka, on Friday.
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