CAPITALSTARS FINANCIAL RESEARCH PVT. LTD.
DAILY AGRI REPORT 20 TH JANUARY 2015
DAILY AGRI COMMODITY REPORT
AGRI WRAP TURMERIC Turmeric April futures traded on a positive note on Monday at India's National Commodity & Derivatives Exchange(NCDEX). Turmeric spice surged up by 1.53% to 9134 level on Monday (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: MIXED TO BULLISH RESISTANCE 2: 9345, RESISTANCE 1: 9240, SUPPORT 1: 9030, SUPPORT 2: 8925. STRATEGY: BUY ON DIPS DAILY AGRI COMMODITY REPORT
SOYABEAN The NCDEX Soyabean February futures eased by by -0.40% in the last trading to close at 3462 level till Monday 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: 3480, SUPPORT 1: 3450, SUPPORT 2: 3430. STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT
CHANA Chana futures traded on a positive note on incresed demand on Monday. Chana January contract gained 1.13% to 3411 levels on Monday (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: MIXED TO BEARISH RESISTANCE 2: 3495, RESISTANCE 1: 3450, SUPPORT 1: 3365, SUPPORT 2: 3315. STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT
DHANIYA The NCDEX Dhaniya April futures surged up by 0.21% in the last trading to close at 7480 level on Monday. 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: 7780, RESISTANCE 1: 7630, SUPPORT 1: 7340, SUPPORT 2: 7200, STRATEGY: BUY ON DIPS 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