Today I was talking to few traders/ brokers and got to understand how same thing is judged so differently by different people.... short term bull run of January, which faded in Feb is again knocking doors... Today UP pvt mill jacked up prices by Rs. 300 per mts. Maharashtra mill's first tenders of March were mostly sold out at premium. Sahadri went @ 13400, warna @ 13580 etc etc... NCDEX is moving up very sharply, following NYBOT & LIFFE.....
Traditionally Feb to June period is high consumption period and offtake of Sug
ar increases considerably, so firs week is expected to fetch good premium as most institutions want to book there monthly requirement. At the same time production forecast also playing some role in framing market sentiments. Till date no one is very sure how much sugar India gonna produce this season, no clue when MH & UP mills will stop crushing, How much cane will be left un-crushed and how much cane have been sown in for next season.... till the time these doubts get some clarity market movement will continue to see same volatility by defying all fundamentals... Happy Trading....attached is Net position on NYBOT.. more people are bullish as of now...
ar increases considerably, so firs week is expected to fetch good premium as most institutions want to book there monthly requirement. At the same time production forecast also playing some role in framing market sentiments. Till date no one is very sure how much sugar India gonna produce this season, no clue when MH & UP mills will stop crushing, How much cane will be left un-crushed and how much cane have been sown in for next season.... till the time these doubts get some clarity market movement will continue to see same volatility by defying all fundamentals... Happy Trading....attached is Net position on NYBOT.. more people are bullish as of now...
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