AGRI COMMODITIES WEEKLY TECHNICAL REPORT……!!!! 03-FEB-2014
NCDEX WEEKLY Newsletter (03/FEB/2014)
AGRI COMMODITY WEEKLY WRAP UP‌..!!!! CORIANDER FUTURE Coriander futures are expected to trade higher on robust demand amid concerns over crop damage due to cold weather in Rajasthan and excessive rain occurred during the sowing period. Coriander acreage in Rajasthan was 128220 hectares for the current year which is 80 percent of total area of 158678 hectares in 2012-13. Carryover stocks too stood lower. As per latest report from India Meteorological Department, very dense fog was observed at many places over Rajasthan and adjoining states. SOYABEAN FUTURE Soybean Feb futures traded on a positive note on Thursday tracking positive overseas markets as well as fresh soy meal export demand. However, prices corrected marginally from higher levels on profit taking and settled 0.26% higher. Arrivals of the new crop across India are reported at 183,000 bags on Thursday as against190,000 bags on Wednesday. SOPA has estimated production to be lower and has revised its output expectations to 122.34 lk tn from 129.83 lk tn earlier. MENTHAOIL FUTURE We have not seen any major change in the arrivals over the last few weeks. The overall negative market sentiments are still intact. Some farmers are selling their produce at lower rates to meet their financial needs. However, most of the stockists are stepping back to offload their stocks due to the fear of losing money. Market sources are stating that most of the domestic exporters are purchasing mentha oil at lower rates, which is capping gains in mentha oil prices. According to trade sources, mint sowing across Uttar Pradesh’s growing regions might be delayed due to extreme cold wave conditions.
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NCDEX WEEKLY Newsletter (03/FEB/2014)
NCDEX OIL & OIL SEEDS WEEKLY TECHNICAL LEVELS CASTOR SEED DAILY CANDLESTICK CHART
TRADING STRATEGY: BUY CASTORSEED FEB ABOVE 4210 TGTS 4310,4410 SL 4060 SELL CASTORSEED FEB BELOW 4000 TGTS 3900,3800 SL 4150
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NCDEX WEEKLY Newsletter (03/FEB/2014)
NCDEX PULSES WEEKLY TECHNICAL LEVELS CHANA DAILY CANDLESTICK CHART
TRADING STRATEGY: BUY CHANA FEB ABOVE 3000 TGTS 3060,3160 SL 2900 SELL CHANA FEB BELOW 2850 TGTS 2790,2690 SL 2950
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NCDEX WEEKLY Newsletter (03/FEB/2014)
NCDEX SPICES WEEKLY TECHNICAL LEVELS DHANIYA DAILY CANDLESTICK CHART
TRADING STRATEGY:
BUY DHANIYA FEB ABOVE 8280 TGTS 8380,8480 SL 8130 SELL DHANIYA FEB BELOW 7960 TGTS 7860,7760 SL 8110
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NCDEX WEEKLY Newsletter (03/FEB/2014)
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NCDEX WEEKLY Newsletter (03/FEB/2014)
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