DAILY AGRI REPORT 2-APR-2014
NCDEX DAILY Newsletter
AGRI COMMODITY DAILY WRAP UP‌..!!!! SOYABEAN FUTURE Soybean futures are expected to trade on a mixed to negative note tracking weakness in the overseas markets and weak soy meal export demand. Soybean markets remained sideways with some demand from crushers in Madhya Pradesh. Firmness in International markets along with a pick up in demand at these lower levels supported the rates for Soybean. GUARSEED FUTURE Higher production reports, better arrivals have ensured a fall in rates over last few weeks. Farmers have started bringing in supplies from the new harvest into local markets. Guar arrivals are picking up, with output expected to rise due to good Monsoon rains in Rajasthan this year. CHANA FUTURE Chana futures are expected to trade on a negative note today. Good sowing reports from MP, UP and Rajasthan amidst high stocks, rise in imports and fall in demand have pressurized Chana rates for last few months. As per ministry of Agriculture reports, sown area for Rabi Pulses is projected at a record high 16.2 million. Significant improvement in yield to move above 900kg/ha was also possible due to conducive weather. CORIANDER FUTURE Coriander futures are likely to trade higher on forecast of lower output due to untimely rains in major producing areas of Madhya Pradesh and Rajasthan. As per market source, extremely low temperatures and unseasonal rains in Madhya Pradesh and Rajasthan have affected 20-25 percent of the total acreage. However, rising supply of new crop in Kota and Ramganj markets might cap major gains.
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NCDEX DAILY Newsletter
NCDEX DAILY TECHNICAL LEVELS DHANIYA HOURLY CANDLESTICK CHART
COMMENT:-On Technical chart Dhaniya apr is in bullish trend where dhaniya apr future made new high, Immediate support @ 9490 and immediate resistance @ 9630.Momentum indicators RSI and is above their mid range also support bullish trend in dhaniya. Expecting that rising in price will continue in upcoming trading session.
R1--9805
R2-10020
S1-9460
S2-9330
TRADING STRATEGY: BUY DHANIYA APR ABOVE 9630 TGTS 9660,9710 SL 9580 SELL DHANIYA APR BELOW 9490 TGTS 9460,9410 SL 9540 3|Page WWW.EPICRESEARCH.CO CALL: +917316642300
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NCDEX DAILY Newsletter
NCDEX DAILY TECHNICAL LEVELS GUARSEED HOURLY CANDLESTICK CHART
COMMENT:-Guarseed apr short term trend looking sideways to bearish in daily chart. Momentum indicators is in mid range. In intraday basis immediate support @ 4750 & immediate resistance @ 4840..
DITRADING STRATEGY: TRADING STRATEGY:
R1-4858
R2-4947
S1-4693
S2-4617
BUY GUARSEED APR ABOVE 4840 TGTS 4870,4920 SL 4790 SELL GUARSEED APR BELOW 4750 TGTS 4720,4670 SL 4800ER
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NCDEX DAILY Newsletter
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