Maize on NCDEX settled up by 1.2% at 1513 tracking firmness in spot demand and overseas as prices underpinned by rains in parts of the U.S. Midwest that delayed the harvest. In India, maize has been sown in around 83.22 lakh hectares as on 16th Sept’ 16 which is higher than 76.34 lakh hectare covered during corresponding period last year. In Karnataka, it has been sown in 12.67 lakh hectare which is higher than 10.43 lakh hectare covered during corresponding period last year while in Maharashtra; it has been up by 1.65 lakh hectares to 9.21 lakh hectares.For more Information Visit Us:- ripplesadvisory.com/free-trial.php and miss call -9827808090.

                       Trading Ideas 

1. Maize trading range for the day is 1489-1527.       

2. India, maize has been sown in around 83.22 lakh hectares which is higher than 76.34 lakh hectare covered during corresponding period last year.               

3. NCDEX accredited warehouses maize stocks dropped by 473 tonnes to 2860 tonnes.     

4. In Nizamabad maize spot prices gained 61.1 rupees to 1882.2 rupees per 100kgs.         

5. In M.P, it has been up by 1.65 lakh hectares to 12.63 lakh hectares. However, in Rajasthan, it has been down by 0.48 lakh hectares to 9.32 lakh hectares.

6. Technically market is under short covering as market has witnessed drop in open interest by -1.31% to settled at 3770 while prices up 18 rupee, now Maize is getting support at 1501 and below same could see a test of 1489 level, And resistance is now likely to be seen at 1520, a move above could see prices testing 1527.