CAPITALSTARS FINANCIAL RESEARCH PVT. LTD.
DAILY AGRI REPORT 4 TH DECEMBER 2014
DAILY AGRI COMMODITY REPORT
AGRI WRAP TURMERIC The NCDEX TURMERIC Dec futures declined by -0.03 % in the last trading to close at Rs 6432 level on wednesday. Turmeric prices reported some weakness today due to weak demand by stockiest and exporters. Traders stated weak production estimates and receding stocks in local mandies to support prices in the near term. The total turmeric production is estimated at around 45-47 lakh tonnes in the current year. Tommorow we can see an upward movement in tumeric technically.
TURMERIC (DECEMBER) DAILY CHART
TURMERIC (DECEMBER) TECHNICAL VIEW: TREND: MIXED TO BULIISH SUPPORT 1: 6390, SUPPORT 2: 6340, RESISTENCE 1: 6480, RESISTENCE 2: 6530. STRATEGY: BUY ON DIPS DAILY AGRI COMMODITY REPORT
SOYABEAN Soyabean December contract fell -0.95 % to 3276 levels on wednesday(5.00pm) at NCDEX. We hold a bearish view for soybean and expect to trade on a subdued note during the day. The favorable weather pattern across Argentina is likely toboost the soybean plantingsMoreover, the outbreakof bird flu in Kerala is controlled according to news reports. The decline in supplies across the physical markets might limit the loss in the commodity. Overall, we hold a bearish view and recommend selling both CBOT
SOYABEAN (DECEMBER) DAILY CHART
SOYABEAN (DECEMBER) TECHNICAL VIEW: TREND: BEARISH SUPPORT 1:3225, SUPPORT 2: 3200, RESISTENCE 1: 3260, RESISTENCE 2: 3285. STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT
CHANA Chana Bearish trend is likely to continue in chana market on the account of steady supplies of other pulses in local mandies accompanied with stockiest selling in local mandeis. The NCDEX futures to test 3000- 2970 levels today. The fresh arrivals of chana will start from second week of January from Karnataka. However, traders estimated that total crop size is likely to be around 25-30 per cent below the last year. This will support the prices in the near term.
CHANA (DECEMBER) DAILY CHART
CHANA (DECEMBER) TECHNICAL VIEW: TREND: BEARISH SUPPORT 1: 3010, SUPPORT 2: 2970, RESISTENCE 1: 3070, RESISTENCE 2: 3100, STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT
JEERA Jeera December contract up 1.23 % to 12160 levels on wednesday(5.00pm) at NCDEX. Bullish trade is likely to continue in jeera contract. As per latest Govt reports, in Gujarat, normal area for Jeera crop isapproximately 388,000 hectares.Till 17.11.2014, 60,900 ha have sown as compared to 74100 ha lastyear. The sowing area during thecurrent year likely to go down inGujarat and Rajasthan growingregions due to lower price ascompared to the Coriander.
JEERA (DECEMBER) DAILY CHART
JEERA (DECEMBER) TECHNICAL VIEW: TREND: CONSOLIDATION SUPPORT 1: 12200, SUPPORT 2: 12000, RESISTENCE 1: 12500, RESISTENCE 2: 12650, STRATEGY: BUY ON DIPS DAILY AGRI COMMODITY REPORT
DISCLAIMER The information and views in this report, our website & all the service we provide are believed to be reliable, but we do Company not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. Use of this report in no way constitutes a client/advisor relationship, all information we communicate to you (the subscriber) either through our Web site or other forms of communications, are purely for informational purposes only. We recommend seeking individual investment advice before making any investment, for you are assuming sole liability for your investments. Capital Stars will in no way have discretionary authority over your trading or investment accounts. All rights reserved.
CONTACT US MOB: +91 92000 99927 PHONE: +91 731 6662200 Email: info@capitalstars.com
CAPITAL STARS FINANCIAL RESEARCH PRIVATE LIMITED PLOT NO. 12, SCHEME NO. 78, PART II VIJAYNAGAR INDORE 452001 (MP)
DAILY AGRI COMMODITY REPORT