Daily agri report 27 june 2014 by epic research

DAILY AGRI REPORT 27-Jun-2014

NCDEX DAILY Newsletter

AGRI COMMODITY DAILY WRAP UP‌..!!!!

TURMERIC FUTURE Turmeric prices also followed the bearish sentiments with poor demand in the physical markets coupled with news of monsoon advancement in the turmeric growing areas. Some demand is likely to come in for all grades at lower levels as stockiest are likely to hoard and sale when exporters move into the market. Monsoon did move in the coastal belt of Kerala, however, showers are likely to be seen during next week in the peninsular India.

JEERA FUTURE Jeera prices could not sustain the highs as supplies improved amid timid demand from exporters. The Dollar/Re movement would be important for the export realizations. A steady Dollar will support the prices with higher exports getting noted. Good quality arrivals have ensured Jeera rates are fetching a premium w.r.t. International markets. Low stocks in global trade and political unrest in Turkey and Syria have pushed the export demand to Indian shores.

GUARSEED FUTURE Guarseed on Thursday ended southward on slow trade activities and good weather ahead. The guar crop requires very limited water for production and due to low maintenance and good returns the acreage is on the rise in irrigated parts of Rajasthan. Guar is the most volatile commodity as there is a high percentage of speculation based on rains, however, the requirement for the crop is very nominal.

SOYABEAN FUTURE Soybean continued the southwards push on weak demand from buyers. Sowing progress have increased in last two days across the western parts of the country. U.S. corn and soybean futures rose for the second straight session on Thursday, supported by concerns that heavy rains in some growing areas of the United States may have caused damage to developing crops.

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NCDEX DAILY TECHNICAL LEVELS DHANIYA HOURLY CANDLESTICK CHART

Dhaniya july daily chart trend is bullish, Momentum Indicator RSI is in overbought zone, expecting price may go up Immediate support @ 10500 & Immediate resistance @ 10630.

R1-9629

R2-10726

PP-10578

S1-10503 S2-10430

TRADING STRATEGY: BUY DHANIYA JUL ABOVE 10630 TGTS 10660,10710 SL 10580 SELL DHANIYA JUL BELOW 10500 TGTS 10470,10420 SL 10550

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NCDEX DAILY TECHNICAL LEVELS GUARSEED HOURLY CANDLESTICK CHART

Guarseed daily chart, Price bounce from support level, expecting from here onwards guarseed price may go UP Momentum indicators RSI is above mid range. In intraday basis immediate support @ 5550 & immediate resistance @ 5680.

R1-5375

R2-5778

PP-5638

S1-5567

S2-5498

ITRADING STRATEGY: TRADING STRATEGY: BUY GUARSEED JUL ABOVE 5680 TGTS 5710,5760 SL 5630 SELL GUARSEED JUL BELOW 5550 TGTS 5520,5470 SL 5600R

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