CAPITALSTARS FINANCIAL RESEARCH PVT. LTD.
DAILY AGRI REPORT 29 TH DECEMBER 2014
DAILY AGRI COMMODITY REPORT
AGRI WRAP TURMERIC The NCDEX TURMERIC April futures incresed by 3.98 % in the last trading session to close at 8590 level on Friday. Bullish trend persisted for Turmeric as falling stocks amidst rise in Festive season domestic and export demand and lower production reports kept trend positive. Demand is expected to pick up further in coming weeks. Falling stocks too are likely to support the prices. A fall in sowing area in Tamil Nadu and Karnataka due to the cyclone in October amidst delayed Monsoon could affect the production adversely—as per market sources. Even as area in Andhra Pradesh goes up, overall production is expected to come down—lending medium term support to the prices. gains. .
TURMERIC (APRIL) DAILY CHART
TURMERIC (APRIL) TECHNICAL VIEW: TREND: BULLISH RESISTANCE 2: 9160, RESISTANCE 1: 9050, SUPPORT 1: 8700, SUPPORT 2: 8460. STRATEGY: BUY ON DIPS DAILY AGRI COMMODITY REPORT
SOYABEAN The NCDEX Soyabean January futures surged by 1.16 percent in the last trading to close at 3357 level till Friday closing. Improved demand in the domestic markets kept trend firm for Soybean even as International markets traded sideways. Traders anticipate some more recovery in the short term.
SOYABEAN (JANUARY) DAILY CHART
SOYABEAN (JANUARY) TECHNICAL VIEW: TREND: MIXED TO BULLISH RESISTANCE 2:3490, RESISTANCE 1: 3445, SUPPORT 1: 3365 SUPPORT 2: 3330. STRATEGY: BUY ON DIPS DAILY AGRI COMMODITY REPORT
CHANA Chana futures traded on a positive note on increased demand on Friday. Chana January contract gained 3.26 % to 3371 levels on Friday (5.00PM) . Firm trend continued to prevail for Chana as Festive season domestic demand lent support to the price. Reports of lower sowing further supported the prices. Further uptrend likely in coming days as market sentiments remain firm. Fall in Rabi sowing area for Rabi Pulses too is having a Bullish impact on the prices. Lower production prospects in International markets would make import costlier.
CHANA (JANUARY) DAILY CHART
CHANA (JANUARY) TECHNICAL VIEW: TREND: BULLISH RESISTANCE 2: 3570, RESISTANCE 1: 3525, SUPPORT 1: 3410, SUPPORT 2: 3345. STRATEGY: BUY ON DIPS DAILY AGRI COMMODITY REPORT
DHANIYA The NCDEX Dhaniya January futures eased by -3.10 % in the last trading to close at 12668 level on Friday. Further dhaniya will be in mixed to downtrend , Monday we may see a mixed to bearish movement in Dhaniya technically .
DHANIYA (JANUARY) DAILY CHART
DHANIYA (JANUARY) TECHNICAL VIEW: TREND:MIXED TO BEARISH RESISTANCE 2: 13100, RESISTANCE 1: 12680, SUPPORT 1: 12000 SUPPORT 2: 11570, 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