CAPITALSTARS FINANCIAL RESEARCH PVT. LTD.
DAILY AGRI REPORT TH 6 FEBRUARY 2015
DAILY AGRI COMMODITY REPORT
AGRI WRAP TURMERIC Turmeric April futures traded on a negative note on Thursday at India's National Commodity & Derivatives Exchange(NCDEX). Turmeric spice slipped by -1.52% to 7918 level on Thursday (5.00pm) at NCDEX. Poor offtake from upcountry traders are affecting Turmeric prices. Good arrivals were noted in Nizamabad today as well and the prices tumbled amid thin demand. The traders are expecting this momentum to continue, keeping prices slightly on a bearish track.
TURMERIC (APRIL) DAILY CHART
TURMERIC (APRIL) TECHNICAL VIEW: TREND: BEARISH RESISTANCE 2: 8115, RESISTANCE 1: 8015, SUPPORT 1: 7860, SUPPORT 2: 7800. STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT
SOYABEAN The NCDEX Soyabean February futures surged by 0.55% in the last trading to close at 3470 level till Thursday closing. Bearishness in international markets prevented any strong recovery for Soybean prices even as good demand in domestic markets supported prices to some extent 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 2:3515, RESISTANCE 1: 3490, SUPPORT 1: 3445, SUPPORT 2: 3415. STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT
CHANA Chana futures traded on a consolidate note on sluggished demand on Thursday. Chana February contract gained -0.35% to 3436 levels on Thursday (5.00PM). No recovery could be noted for Chana as rains in the growing states continued to pressurize market sentiments. Rains in growing areas in Rajasthan, MP and UP are reportedly beneficial for the standing crop.
CHANA (FEBRUARY) DAILY CHART
CHANA (FEBRUARY) TECHNICAL VIEW: TREND:MIXED TO BEARISH RESISTANCE 2: 3475, RESISTANCE 1: 3455, SUPPORT 1: 3410, SUPPORT 2: 3385. STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT
DHANIYA The NCDEX Dhaniya April futures surged by 1.15% in the last trading to close at 7485 level on Thursday. 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: 7700, RESISTANCE 1: 7590, SUPPORT 1: 7365, SUPPORT 2: 7240, 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