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Sep 25, 2012, 06.02 PM IST
Dani Commodities has come out with its report on Oilseeds. According to the research firm, the Oilseeds complex is likely to drift further lower on the back of bearish global cues.
Dani Commodities has come out with its report on Oilseeds. According to the research firm, the Oilseeds complex is likely to drift further lower on the back of bearish global cues.
The oilseeds complex is likely to drift further lower on the back of bearish global cues. NCDEX RSO for the October delivery ended the day at Rs696.85, down Rs14.55 or 2.09%. The counter is likely to find support at Rs690-684 and resistance at Rs700-708.50 per 10 kg. Traders mentioned that the total arrival of new soyabean in the mandies of Maharashtra such as Sholapur, Latur and Akola added selling pressure in domestic market. Moreover, weak trend in soyameal market also led to some selling in soyabean market. As per the First Advance Estimates of production of Kharif crops, the oilseeds crop size is estimated at 18.78 million tonnes against 19.38 million tonnes the 5- years Average Production. Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
To read the full report click here |
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