MCX and NCDEX Tips for Today – Latest Commodity Update (21st June)

Cardamom: With the first crop harvest of Cardamom to commence in July, deficient rainfall has affected the Cardamom sector in the major growing areas in India. With the scares rainfall, flowering and fruiting has been delayed. Rainfall during the southwest monsoon is crucial in deciding the annual production, as fruit-bearing for the first harvest starts with it. Another reason being the high level pest attack on crops. It is estimated that the annual Cardamom production in the country is about to drop by about 30 percent. Farmers are having a misery as this situation occurred when the prices of the commodity has fallen.

Gold: Gold inched up on Wednesday after hitting its lowest in five weeks in the previous session, buoyed as equities fell and the U.S. dollar eased from one-month highs following a tumble in crude oil prices.

Jeera trading range for the day is 18430-19260. Jeera ended with losses on profit booking after prices gained on good physical demand and reports of less carryover stocks.
SELL JEERA JUL 2017 @ 18850 SL 18980 TGT 18720-18550.

Zinc trading range for the day is 162.6-167. Zinc pared gains on profit booking after rising as support seen on anticipation of pickup in steel plants demand.
BUY ZINC JUN 2017 @ 164.00 SL 163.00 TGT 165.20-166.50.

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