Daily agri report by epic research 16 june 2014

DAILY AGRI REPORT 16-Jun-2014

NCDEX DAILY Newsletter

AGRI COMMODITY DAILY WRAP UP‌..!!!!

CORIANDER FUTURE Coriander futures may witness some recovery due to concern over fall in output for the current year. According to Andhra Pradesh Horticulture Department, the state's coriander output this year is seen 14 percent lower at 12379 tonnes, compared to last year. Strong export demand due to crop failure in Bulgaria and Romania coupled with limited supply of superior quality are likely to push up prices. As per the recent circular, FMC approved modifications to coriander contracts on the NCDEX. Tightening the quality parameters, the regulator approved the maximum limit for damaged and discolored coriander seeds of 1.90%, and basis limit for shriveled seeds of 1% that can be acceptable up to 1.5%. The change in contract specifications will be applicable for those that expire October onwards.

JEERA FUTURE Jeera futures is seen weak on higher production prospects. Bumper production during the season and sufficient supplies at the spot markets are limiting sharp gains in prices. Production of jeera in Gujarat, is seen rising by 36 percent on year in 2013-14 to a record 319000 tonnes, according to state's agriculture department. However, major downside will remain capped as jeera production is expected to fall in Syria and Turkey due to crop failure amid political unrest.

TURMERIC FUTURE Turmeric futures declined tracking fall in major spot markets. Poor quality crop arrivals and reports of better sowing this year are seen pressurizing the prices. During 2013-14 turmeric export performance have seen decline compared to previous year in terms of volume but higher earnings. Rainfall occurred at many places over Kerala and at a few places over North interior Karnataka. Isolated rainfall occurred over Coastal Andhra Pradesh, Rayalaseema,Tamil Nadu, Coastal and South interior Karnataka. Dry weather prevailed over Telangana.

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NCDEX DAILY Newsletter

NCDEX DAILY TECHNICAL LEVELS DHANIYA HOURLY CANDLESTICK CHART

Dhaniya july daily chart Consolidating in upper range trend is bullish, trend is bullish RSI is above mid range Immediate support @ 10200 & Immediate resistance @ 10350.

R1-9629

R2-10518 PP-10288

S1-10187

S2-10058

TRADING STRATEGY: BUY DHANIYA JUN ABOVE 10350 TGTS 10370,10420 SL 10300 SELL DHANIYA JUN BELOW 10200 TGTS 10170,10120 SL 10250

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NCDEX DAILY Newsletter

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 @ 5250 & immediate resistance @ 5325.

R1-5375

R2-5373

PP-5293

S1-5252

S2-5213

ITRADING STRATEGY: TRADING STRATEGY: BUY GUARSEED JUN ABOVE 5325 TGTS 5355,5405 SL 5275 SELL GUARSEED JUN BELOW 5250 TGTS 5220,5170 SL 5300R

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NCDEX DAILY Newsletter

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