CAPITALSTARS FINANCIAL RESEARCH PVT. LTD.
DAILY AGRI REPORT 19 TH JANUARY 2015
DAILY AGRI COMMODITY REPORT
AGRI WRAP TURMERIC Turmeric April futures traded on a negative note on Friday at India's National Commodity & Derivatives Exchange(NCDEX). Turmeric spice surged up by -1.64% to 8972 level on Friday (5.00pm) at NCDEX. Moderate firm trend persisted for Turmeric as 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 which are likely to support the prices in the medium term.
TURMERIC (APRIL) DAILY CHART
TURMERIC (APRIL) TECHNICAL VIEW: TREND: MIXED TO BEARISH RESISTANCE 2: 9360, RESISTANCE 1: 9165, SUPPORT 1: 8790, SUPPORT 2: 8600. STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT
SOYABEAN The NCDEX Soyabean February futures surged by by 0.90% in the last trading to close at 3492 level till Thursday closing. Bearishness in International markets kept trend weak for Soybean as higher production reports prevented a strong recovery for the commodity. Short covering at the lower levels did help prices recover by day end however.
SOYABEAN (FEBRUARY) DAILY CHART
SOYABEAN (FEBRUARY) TECHNICAL VIEW: TREND: MIXED TO BULLISH RESISTANCE 2:3500, RESISTANCE 1: 3485, SUPPORT 1: 3460, SUPPORT 2: 3440. STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT
CHANA Chana futures traded on a negative note on consolidate demand on Friday. Chana January contract gained -2.61% to 3364 levels on Friday (5.00PM). The 2nd advance estimate by Rajasthan state agriculture department projected 12.24 lakh tons of chana this year, while it had touched 16.40 lakh tons last year. Chana acreage is lagging by 22% there. As per the data, sowing area has covered 14.9 lakh ha in the state so far, while it was recorded 19.23 lakh ha last year.
CHANA (FEBRUARY) DAILY CHART
CHANA (FEBRUARY) TECHNICAL VIEW: TREND: BEARISH RESISTANCE 2: 3495, RESISTANCE 1: 3430, SUPPORT 1: 3330, SUPPORT 2: 3295. STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT
DHANIYA The NCDEX Dhaniya April futures surged up by 2.93% in the last trading to close at 7457 level on Friday. 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: MIXED TO BULLISH RESISTANCE 2: 7730, RESISTANCE 1: 7600, SUPPORT 1: 7260, SUPPORT 2: 7063, 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