CAPITALSTARS FINANCIAL RESEARCH PVT. LTD.
DAILY AGRI REPORT 30 TH OCTOBER 2014
DAILY AGRI COMMODITY REPORT
AGRI WRAP TURMERIC Turmeric futures jumped on bargain buying, though expectations of higher production capped the upside. The key November contract closed 1.58 percent higher at 6,176 rupees per 100 kg.
TURMERIC (NOVEMBER) DAILY CHART
TURMERIC (NOVEMBER) TECHNICAL VIEW: TREND: BEARISH SUPPORT 1: 6064, SUPPORT 2: 5950, RESISTENCE 1: 6280, RESISTENCE 2: 6330. STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT
SOYABEAN Indian soybean futures extended gains on Wednesday to hit a six-week high on lower-thanexpected supplies in the spot market, while soyoil and rapeseed rose following gains in Malaysian palm oil. Malaysian palm oil climbed to its highest level in almost 12 weeks on Wednesday, supported by gains in competing oilseed markets and on expectations the country's palm oil demand would increase because of a new biodiesel policy. The key November soybean contract on the National Commodity & Derivatives Exchange closed 1.7 percent higher at 3,273 rupees per 100 kg, after rising to 3,287 rupees earlier in the day, the highest level since September 17. November rapeseed contract rose 0.67 percent to 3,737 rupees per 100 kg.
SOYABEAN (NOVEMBER) DAILY CHART
SOYABEAN (NOVEMBER) TECHNICAL VIEW: TREND: BULLISH SUPPORT 1:3187, SUPPORT 2: 3154, RESISTENCE 1: 3335, RESISTENCE 2: 3400. STRATEGY: BUY ON DIPS DAILY AGRI COMMODITY REPORT
CHANA Chana, or chickpea, futures extended gains on good demand in the spot market. The November contract rose 1.33 percent to 3,043 rupees per 100 kg.
CHANA (NOVEMBER) DAILY CHART
CHANA (NOVEMBER) TECHNICAL VIEW: TREND: BULLISH SUPPORT 1: 2970, SUPPORT 2: 2895, RESISTENCE 1: 3080, RESISTENCE 2: 3142. STRATEGY: BUY ON DIPS DAILY AGRI COMMODITY REPORT
JEERA Jeera, or cumin seed, futures fell on expectations of higher production. The key November contract dropped 0.83 percent to 11,375 rupees per 100 kg. Strong arrivals amid better sowing are likely to keep Jeera prices under check in medium term. Strong stock levels reported with stockiest on the back of bounty crop last year. It is so early to estimate the current year sowing areas as sowing is just going to start in couple of days. As per market source, geo-political tensions in Syria, one of the major exporters of the spice, has led to good demand for Indian Jeera from the overseas markets.
JEERA (NOVEMBER) DAILY CHART
JEERA (NOVEMBER) TECHNICAL VIEW: TREND: CONSOLIDATE SUPPORT 1: 11215, SUPPORT 2: 11040, RESISTENCE 1: 11550, RESISTENCE 2: 11720. STRATEGY: SELL ON RISE 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