· Short covering noted for Agri commodities after the recent huge fall in prices even as Monsoon progresses strongly towards rest of India. As per IMD, conditions are favorable for the Monsoon to cover entire India over next 2 days.
· Heavy rains expected in North-West this week as the recent rains keep market sentiments weak. However, with prices having fallen a lot over last few weeks, traders do not rule out moderate short term recovery as demand too picks up at these lower levels.
· Short term expected to remain very volatile as favorable Monsoon reports pressurize prices, while improved buying activities seen at the lower levels prevent too much fall.