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ReturnSURESH MEHTA ANALYSIS(1)--Weekly review of indian market (Till Sep 2)
Author：
admin
PublishDate：
2005-09-03 22:00:00
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584
DEAR FRIENDS
WE HAVE WITNESSED A STEADY TREND FOR RAW SILK IN INDIA WITH PRICES RANGING FROM RS 1300-1320 HOWEVER THE SALES VOLUME HAS BEEN LESS DUE TO THE UPCOMING "GANESHA" HOLIDAY NEXT WEEK.SILK WEAVING FACTORIES WILL BE CLOSED FROM SEP 7TH TO ABOUT A WEEK WHICH MAY CAUSE A PRICE CORRECTION DUE TO NO SALES HERE.
DUPION SILK YARN IS SLOWLY GOING DOWN FOR THE SAME REASON AND VERY LESS DEMAND CAN BE SEEN FOR IT . NORMAL DUPION SILK MILL RANGE FROM ABOUT RS 1030.00 TO RS1060.00
FRESH SURPLUS ARRIVALS IN TUSSAH SILK YARN HAS ALSO AFFECTED IT AND WE HAVE SEEN PRICES ABT RS 1330 -1360 - A NEW LOW FOR TUSSAH IN RECENT WEEKS.
FUTURE VIEW
THE JIAXING EXCHANGE PRICE SEEN IN LAST WEEK FROM ABT 197 RMB HAS RAISED THE INTEREST IN RAW SILK BUYING FROM INDIAN IMPORTERS AND WE SHOULD SEE STEADY BUYING CONTINUE IF THE EXCHANGE PRICE IS MAINTAINED IN ABT 190-200 RMB RANGE FOR AT LEAST NEXT FIFTEEN DAYS.EVEN THOUGH WE SAW THE EXCHANGE PRICE GOING UP IN THE LATER HALF OF THE WEEK I THINK THE RANGE OF RMB 190-200 SHOULD BE IDEAL FOR SEP AND THIS WILL SUPPORT BUYING DECISION IN INDIA , ENABLING A HEALTHY FLOW OF RAW SILK TO INDIA . HIGH PRICE MAY AGAIN PUT A STOP TO THE FLOW AND LEAD TO INSTABILITY IN THE MARKET .
B RGDS
SURESH MEHTA
WE HAVE WITNESSED A STEADY TREND FOR RAW SILK IN INDIA WITH PRICES RANGING FROM RS 1300-1320 HOWEVER THE SALES VOLUME HAS BEEN LESS DUE TO THE UPCOMING "GANESHA" HOLIDAY NEXT WEEK.SILK WEAVING FACTORIES WILL BE CLOSED FROM SEP 7TH TO ABOUT A WEEK WHICH MAY CAUSE A PRICE CORRECTION DUE TO NO SALES HERE.
DUPION SILK YARN IS SLOWLY GOING DOWN FOR THE SAME REASON AND VERY LESS DEMAND CAN BE SEEN FOR IT . NORMAL DUPION SILK MILL RANGE FROM ABOUT RS 1030.00 TO RS1060.00
FRESH SURPLUS ARRIVALS IN TUSSAH SILK YARN HAS ALSO AFFECTED IT AND WE HAVE SEEN PRICES ABT RS 1330 -1360 - A NEW LOW FOR TUSSAH IN RECENT WEEKS.
FUTURE VIEW
THE JIAXING EXCHANGE PRICE SEEN IN LAST WEEK FROM ABT 197 RMB HAS RAISED THE INTEREST IN RAW SILK BUYING FROM INDIAN IMPORTERS AND WE SHOULD SEE STEADY BUYING CONTINUE IF THE EXCHANGE PRICE IS MAINTAINED IN ABT 190-200 RMB RANGE FOR AT LEAST NEXT FIFTEEN DAYS.EVEN THOUGH WE SAW THE EXCHANGE PRICE GOING UP IN THE LATER HALF OF THE WEEK I THINK THE RANGE OF RMB 190-200 SHOULD BE IDEAL FOR SEP AND THIS WILL SUPPORT BUYING DECISION IN INDIA , ENABLING A HEALTHY FLOW OF RAW SILK TO INDIA . HIGH PRICE MAY AGAIN PUT A STOP TO THE FLOW AND LEAD TO INSTABILITY IN THE MARKET .
B RGDS
SURESH MEHTA
