CAPITALSTARS FINANCIAL RESEARCH PVT. LTD.
DAILY AGRI REPORT 22 ND JANUARY 2015
DAILY AGRI COMMODITY REPORT
AGRI WRAP TURMERIC Turmeric April futures traded on a negative note on Wednesday at India's National Commodity & Derivatives Exchange(NCDEX). Turmeric spice easied by -4.00% to 8596 level on Wednesday (5.00pm) at NCDEX. Turmeric traded slightly lower as traders waited for the prices to cool before initiating fresh demand in mandis. Low stocks and lower production reports are however likely to support prices in the medium to long term. Demand from North India is also expected to rise in coming weeks.
TURMERIC (APRIL) DAILY CHART
TURMERIC (APRIL) TECHNICAL VIEW: TREND: BEARISH RESISTANCE 2: 9180, RESISTANCE 1: 8890, SUPPORT 1: 8450, SUPPORT 2: 8300. STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT
SOYABEAN The NCDEX Soyabean February futures eased by by -1.97% in the last trading to close at 3390 level till Wednesday closing. Moderate firmness was noted for Soybean last week even as no strong recovery was noted in the International markets. Firm demand in domestic market kept trend slight firm as traders anticipate demand to rise even further in coming weeks.Higher projections for global production could however keep a tap on the rising rates.
SOYABEAN (FEBRUARY) DAILY CHART
SOYABEAN (FEBRUARY) TECHNICAL VIEW: TREND: MIXED TO BEARISH RESISTANCE 2:3505, RESISTANCE 1: 3450, SUPPORT 1: 3350, SUPPORT 2: 3315. STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT
CHANA Chana futures traded on a negative note on incresed demand on Wednesday. Chana January contract gained -1.81% to 3362 levels on Wednesday (5.00PM). Prices recovered from the lower levels on improved demand. The recent rains in some parts of Rajasthan had pressurized prices as that was considered beneficial for the standing crop. Any further rains in coming days there could again pressurize prices to some extent. However, lower sowing reports and expectations of a pick up in demand at the lower levels are likely to support the prices in coming weeks.
CHANA (FEBRUARY) DAILY CHART
CHANA (FEBRUARY) TECHNICAL VIEW: TREND: BEARISH RESISTANCE 2: 3450, RESISTANCE 1: 3405, SUPPORT 1: 3325, SUPPORT 2: 3290. STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT
DHANIYA The NCDEX Dhaniya April futures eased by -1.54% in the last trading to close at 7410 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: MIXED TO BEARISH RESISTANCE 2: 7680, RESISTANCE 1: 7545, SUPPORT 1: 7275, SUPPORT 2: 7140, STRATEGY: SELL ON RISE 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