CAPITALSTARS FINANCIAL RESEARCH PVT. LTD.
DAILY AGRI REPORT 6 TH JANUARY 2015
DAILY AGRI COMMODITY REPORT
AGRI WRAP TURMERIC Turmeric futures dropped on the back of strong new supplies in local mandies along with limited offtake by traders at higher levels. The NCDEX AprilTurmeric futures ended the day at Rs 9094, down Rs 218 or 2.34% over last close. Traders have reported strong arrivals of 15,000 bags at Erode mandi. While 1,500 bags of new arrivals have been reported in Nizamabad mandi. This will keep the prices under pressure in the near term. However, traders stated that total turmeric production in the current year is estimated at around 45-47 lakh tonnes, down almost 20-25 lakh bags from the last year. Turmeric futures eased from the high of Rs 9,680 level made last week andsettled the day at Rs 9094, down Rs 218 or 2.34% over last close. The openinterest added 30 tonnes to 25,950 tonnes, indicating short selling. .
TURMERIC (APRIL) DAILY CHART
TURMERIC (APRIL) TECHNICAL VIEW: TREND: MIXED TO BEARISH RESISTANCE 2: 9540, RESISTANCE 1: 9320, SUPPORT 1: 8960, SUPPORT 2: 8825. STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT
SOYABEAN The NCDEX Soyabean January futures decresed by -0.30% in the last trading to close at 3370 level till Monday closing. Prices found some strong support at the lower levels for Soybean even as weakness in International markets amidst rains in MP and Rajasthan kept the uptrend limited.
SOYABEAN (JANUARY) DAILY CHART
SOYABEAN (JANUARY) TECHNICAL VIEW: TREND: MIXED TO BEARISH RESISTANCE 2:3415, RESISTANCE 1: 3385, SUPPORT 1: 3340, SUPPORT 2: 3325. STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT
CHANA Chana futures traded on a negative note on decresed demand on Monday. Chana January contract lost -0.69% to 3492 levels on Monday (5.00PM). Rains in many parts of North-West and Central India keeps market sentiments weak on anticipations of that being good for the standing crop. Extending Duty-free import for Pulses till March 31 created a further selling pressure for Pulses complex. Domestic demand however likely to pick up again at the lower levels as overall market sentiments remain firm. Fall in Rabi sowing area for Rabi Pulses and lower International production prospects could support prices in medium to long term however..
CHANA (JANUARY) DAILY CHART
CHANA (JANUARY) TECHNICAL VIEW: TREND: CONSOLIDATE RESISTANCE 2: 3530, RESISTANCE 1: 3500, SUPPORT 1: 3445, SUPPORT 2: 3420. STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT
DHANIYA The NCDEX Dhaniya January futures incresed by 3.39 % in the last trading to close at 10937 level on Monday. Stockiest liquidation continued in dhaniya prices as prices declined by almost Rs 100 per quintal at Kota mandi due to favourable rainfall in major coriander states Madhya Pradesh and Rajasthan. Traders are expecting further selling in the near term.
DHANIYA (JANUARY) DAILY CHART
DHANIYA (JANUARY) TECHNICAL VIEW: TREND: MIXED TO BULLISH RESISTANCE 2: 11680, RESISTANCE 1: 11510, SUPPORT 1: 11010, SUPPORT 2: 10680, 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