DAILY AGRI REPORT 7-APR-2014
NCDEX DAILY Newsletter
AGRI COMMODITY DAILY WRAP UP‌..!!!! JEERA FUTURE Jeera futures are expected to trade lower due to selling pressure as arrivals of the new crop are rising sharply in spot markets. The off take is likely to remain limited due to expectation of high output on significant rise in sowing. However, expectations of pick up in export may limit sharp fall in prices. As per the latest data by Gujarat Agriculture Board, total acreage of jeera in the state has been increased by 1.05 lakh hectares from the last year to 4.54 lakh hectares. Traders estimated that total production of jeera is likely to increase by 10 lakh bags to around 46 lakh bags in the current year. TURMERIC FUTURE India exported 50500 tonnes of turmeric for Rs.408.28 crore during April-November 2013, up 11 percent and 41 percent respectively in volume and value of exports over the same period last year. The Nizamabad market remained closed from Mar 28 to Apr 2 for the financial year end. CARDAMOM FUTURE Cardamom futures may trade with a positive bias on firm overseas demand . Meanwhile, strong arrivals likely to limit sharp rise in prices.As per market source,the Spices Board of India has allowed cardamom producers to sell their produce directly to dealers licensed by the Board. 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.
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NCDEX DAILY Newsletter
NCDEX DAILY TECHNICAL LEVELS DHANIYA HOURLY CANDLESTICK CHART
Dhaniya daily chart shows bullish trend,but it has not given closing above its resistance 9730 in daily chart, expecting profit booking will continue in upcomming trading session.RSI is in mid range.Immediate support @ 9230 & Immediate resistance @ 9350.
R1-9454
R2-9597
S1-9174
S2-9037
TRADING STRATEGY: BUY DHANIYA APR ABOVE 9350 TGTS 9380,9430 SL 9300 SELL DHANIYA APR BELOW 9230 TGTS 9200,9150 SL 9280 3|Page WWW.EPICRESEARCH.CO CALL: +917316642300
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NCDEX DAILY Newsletter
NCDEX DAILY TECHNICAL LEVELS GUARSEED HOURLY CANDLESTICK CHART
Guarseed apr short term trend looking sideways to bearish in daily chart. Momentum indicators RSI is in mid range. In intraday basis immediate support @ 4710 & immediate resistance @ 4775.
DITRADING STRATEGY: TRADING STRATEGY:
R1-4765
R2-4800
S1-4705
S2-4680
BUY GUARSEED APR ABOVE 4775 TGTS 4805,4855 SL 4725 SELL GUARSEED APR BELOW 4710 TGTS 4680,4630 SL 4760 ER
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NCDEX DAILY Newsletter
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NCDEX DAILY Newsletter
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