CAPITALSTARS FINANCIAL RESEARCH PVT. LTD.
DAILY AGRI REPORT 28 TH APRIL 2014
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AGRI WRAP Futures of most agriculture commodities in India rose on Friday after the weather department forecast lower-than normal monsoon rainfall for 2014, stoking concerns about production of summer-sown crops. India is likely to witness below-average rainfall in 2014, the government's weather office said on Thursday, if El Nino hits the June-September monsoon season.
TURMERIC Turmeric futures rose on exports inquiries and concerns over the next year's output due to the forecast of lower rainfall. The key May contract finished up 1.30 percent at 7,004 rupees per 100 kg.
TURMERIC (MAY) DAILY CHART
TURMERIC (MAY) TECHNICAL VIEW: TREND: BULLISH SUPPORT 1: 6920, SUPPORT 2: 6868, RESISTENCE 1: 7100, RESISTENCE 2: 7320. STRATEGY: BUY ON DIPS DAILY AGRI COMMODITY REPORT Phone: 0731-6662200 E-mail: info@capitalstars.com
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SOYABEAN Indian soybean futures jumped nearly 4 percent to their highest in more than 20 months on concerns that production of the oilseed may drop in the next season if the country receives lower rainfall. The key May soybean contract closed up 3.8 percent at 4,682.50 rupees per 100 kg on the National Commodity and Derivatives Exchange, after rising to 4,691.5 rupees earlier in the day, the highest level since Aug. 8, 2012. The May rapeseed contract rose 1.83 percent to 3,559 rupees per 100 kg on robust demand in spot markets.
SOYABEAN (MAY) DAILY CHART
SOYABEAN (MAY) TECHNICAL VIEW: TREND: BULLISH SUPPORT 1:4650, SUPPORT 2: 4535, RESISTENCE 1: 4705, RESISTENCE 2: 4790, STRATEGY: BUY ON DIPS. DAILY AGRI COMMODITY REPORT Phone: 0731-6662200 E-mail: info@capitalstars.com
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CHANA Chana, or chickpea, futures rose on bargain-buying, though rising supplies from the new season crop in top producing Madhya Pradesh state capped gains. The May chana contract jumped 1.63 percent to 3,124 rupees per 100 kg.
CHANA (MAY) DAILY CHART
CHANA (MAY) TECHNICAL VIEW: TREND: CONSOLIDATE SUPPORT 1: 3040, SUPPORT 2: 2975, RESISTENCE 1: 3210, RESISTENCE 2: 3260. STRATEGY: BUY ON DIPS DAILY AGRI COMMODITY REPORT Phone: 0731-6662200 E-mail: info@capitalstars.com
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JEERA Jeera, or cumin seed, futures rose on an improvement in exports demand and concerns about production. The key May contract closed up 2.14 percent at 10,720 rupees per 100 kg.
JEERA (MAY) DAILY CHART .
JEERA (MAY) TECHNICAL VIEW: TREND: CONSOLIDATE SUPPORT 1: 10300, SUPPORT 2: 10200, RESISTENCE 1: 10800, RESISTENCE 2: 11200. STRATEGY: BUY ON DIPS DAILY AGRI COMMODITY REPORT Phone: 0731-6662200 E-mail: info@capitalstars.com
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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 Phone: 0731-6662200 E-mail: info@capitalstars.com
http://www.capitalstars.com