DAILY AGRI REPORT 26-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 daily chart price trend shows Bearish. the momentum indicator RSI is below mid range recommending sell on high, Immediate support @ 8750 and immediate resistance @ 8860.
R1-8985, R2-9104; S1-8749 S2-8632 TRADING STRATEGY: BUY DHANIYA APR ABOVE 8860 TGTS 8890,8940 SL 8810 SELL DHANIYA APR BELOW 8750 TGTS 8720,8670 SL 8800
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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 momentom indicator RSI is below mid range, recommending sell on high,Immediate support @ 4655 and immediate resistance @4600.
R1-4708
R2-4787
S1-4578
S2-4527
DITRADING STRATEGY: TRADING STRATEGY: BUY GUARSEED APR ABOVE 4655 TGTS 4685,4735 SL 4605 SELL GUARSEED APR BELOW 4600 TGTS 4570,4520 SL 4650LAIMER 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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