DAILY AGRI REPORT 27th-MAR-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. 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. 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. 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.
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NCDEX DAILY Newsletter
NCDEX DAILY TECHNICAL LEVELS DHANIYA HOURLY CANDLESTICK CHART
COMMENT:-Dhaniya future short term trend is bearish, having some profit booking from near support level the momentum indicator RSI is below mid range, recommending sell on high. Immediate support @ 8930 and immediate resistance @ 9050..
R1-9138 R2-9250 S1-8819 S2-8612 TRADING STRATEGY: BUY DHANIYA APR ABOVE 9050 TGTS 9080,9130 SL 9000 SELL DHANIYA APR BELOW 8930 TGTS 8900,8850 SL 8980
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NCDEX DAILY Newsletter
NCDEX DAILY TECHNICAL LEVELS GUARSEED HOURLY CANDLESTICK CHART
COMMENT:-Guarseed daily chart shows sideways to bearish trend. expecting price will go down, Having some profit booking from near support,momentom indicator RSI is below mid range,recommending sell on high, Immediate support @ 4620 and immediate resistance @ 4660.
R1-4662 R2-4683 S1-4617 S2-4593 DITRADING STRATEGY: TRADING STRATEGY: BUY GUARSEED APR ABOVE 4660 TGTS 4690,4740 SL 4615 SELL GUARSEED APR BELOW 4620 TGTS 4600,4550 SL 4665IMER 4|Page WWW.EPICRESEARCH.CO CALL: +917316642300
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NCDEX DAILY Newsletter
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NCDEX DAILY Newsletter
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