CAPITALSTARS FINANCIAL RESEARCH PVT. LTD.
DAILY AGRI REPORT 21 ST AUGUST 2014
DAILY AGRI COMMODITY REPORT
AGRI WRAP
TURMERIC Turmeric futures fell due to poor export demand though a delay in sowing due to late monsoon rains limited the downside. The late monsoon has pushed back turmeric sowing in the top cultivating areas, raising concerns about yields. The key September contract closed down 0.54 percent at 6,584 rupees per 100 kg.
TURMERIC (SEPTEMBER) DAILY CHART
TURMERIC (SEPTEMBER) TECHNICAL VIEW: TREND: CONSOLIDATE SUPPORT 1: 6450, SUPPORT 2: 6310, RESISTENCE 1: 6670, RESISTENCE 2: 6780. STRATEGY: BUY ON DIPS DAILY AGRI COMMODITY REPORT
SOYABEAN Indian soybean and soyoil futures fell on Wednesday, tracking weak global markets and on sluggish export demand for soymeal. Malaysian palm oil lost more ground on Wednesday, falling for a sixth consecutive session to its lowest since October 2009 as slowing exports and prospects of near-record U.S. soybean production weighed on the market. The key October soybean contract closed down 0.50 percent at 3,387 rupees per 100 kg on the National Commodity & Derivatives Exchange, while the September rapeseed contract rose 0.35 percent to 3,426 rupees per 100 kg on some value buying.
SOYABEAN (OCTOBER) DAILY CHART
SOYABEAN (OCTOBER) TECHNICAL VIEW: TREND: BEARISH SUPPORT 1:3350, SUPPORT 2: 3260, RESISTENCE 1: 3490, RESISTENCE 2: 3550, STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT
CHANA Chana, or chickpea, futures slipped on profit-taking after rising for two consecutive sessions, though a pickup in local demand and limited supplies are seen supporting prices on Thursday. The September chana contract closed down 0.33 percent at 2,970 rupees per 100 kg.
CHANA (SEPTEMBER ) DAILY CHART
CHANA (SEPTEMBER ) TECHNICAL VIEW: TREND: CONSOLIDATE SUPPORT 1: 2940, SUPPORT 2: 2870, RESISTENCE 1: 3000, RESISTENCE 2: 3020. STRATEGY: BUY ON DIPS DAILY AGRI COMMODITY REPORT
JEERA Jeera, or cumin seed, futures slipped on profit-taking but are expected to open steady on Thursday on thin supplies. The key September contract ended down 0.35 percent at 11,310 rupees per 100 kg.
JEERA (SEPTEMBER) DAILY CHART
JEERA (SEPTEMBER) TECHNICAL VIEW: TREND: CONSOLIDATE SUPPORT 1: 11150, SUPPORT 2: 10920, RESISTENCE 1: 11450, RESISTENCE 2: 11500. STRATEGY: BUY ON DIPS DAILY AGRI COMMODITY REPORT
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CAPITAL STARS FINANCIAL RESEARCH PRIVATE LIMITED PLOT NO. 12, SCHEME NO. 78, PART II VIJAYNAGAR INDORE 452001 (MP)
DAILY AGRI COMMODITY REPORT