CAPITALSTARS FINANCIAL RESEARCH PVT. LTD.
DAILY AGRI REPORT 15 TH JANUARY 2015
DAILY AGRI COMMODITY REPORT
AGRI WRAP TURMERIC Turmeric April futures traded on a positive note on Wednesday at India's National Commodity & Derivatives Exchange(NCDEX). Turmeric spice surged up by 0.20% to 9224 level on Wednesday (5.00pm) at NCDEX. Some consolidation in rates are seen as market finding some support on these lower levels. Low stocks and lower production reports are likely to support prices in the medium to long term. Demand from North India is picking up at these levels.
TURMERIC (APRIL) DAILY CHART
TURMERIC (APRIL) TECHNICAL VIEW: TREND: MIXED TO BULLISH RESISTANCE 2: 9480, RESISTANCE 1: 9350, SUPPORT 1: 9115, SUPPORT 2: 9000. STRATEGY: BUY ON DIPS DAILY AGRI COMMODITY REPORT
SOYABEAN The NCDEX Soyabean february futures increased by by 0.55% in the last trading to close at 3461 level till Wednesday closing. Indian Soybean production is reduced on lower yields reflecting late planting and short monsoon season. Several years of historical revisions are also made for Indian production. Other changes include increased production for Bolivia, increased soybean and sunflowerseed production for EU, and reduced cottonseed production for India.
SOYABEAN (FEBRUARY) DAILY CHART
SOYABEAN (FEBRUARY) TECHNICAL VIEW: TREND: BULLISH RESISTANCE 2:3545, RESISTANCE 1: 3500, SUPPORT 1: 3415, SUPPORT 2: 3370. STRATEGY: BUY ON DIPS DAILY AGRI COMMODITY REPORT
CHANA Chana futures traded on a negative note on decresed demand on Wednesday. Chana January contract gained 0.92% to 3454 levels on Wednesday (5.00PM). In chna moreover the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices. India is the largest producer of chickpea followed by Pakistan Turkey and Iran. India produces around 6 to 8 million tonnes and contributes around 70 per cent of the total world production..
CHANA (FEBRUARY) DAILY CHART
CHANA (FEBRUARY) TECHNICAL VIEW: TREND: BEARISH RESISTANCE 2: 3510, RESISTANCE 1: 3485, SUPPORT 1: 3430, SUPPORT 2: 3400. STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT
DHANIYA The NCDEX Dhaniya April futures decresed by -6.00% in the last trading to close at 7521 level on Wednesday. Sentiment weakened further as speculators reduced their positions on the back of sluggish demand in the market. Dhaniya is common in South Asian Middle Eastern Central Asian Mediterranean Indian Tex-Mex Latin American Portuguese Chinese African and Scandinavian.
DHANIYA (APRIL) DAILY CHART
DHANIYA (APRIL) TECHNICAL VIEW: TREND: BEARISH RESISTANCE 2: 8220, RESISTANCE 1: 7870, SUPPORT 1: 7345, SUPPORT 2: 7170, 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