AGRI COMMODITIES WEEKLY TECHNICAL REPORT……!!!! 06-JAN-2014
NCDEX WEEKLY Newsletter (06/JAN/2014)
AGRI COMMODITY WEEKLY WRAP UP‌..!!!! SOYABEAN FUTURE Soybean futures are likely to trade range bound as there are no new triggers. Mustard futures may trade positive on talk of crop damage. Soybean futures are likely to trade sideways to negative as there are no new fundamentals. Weak export demand for Indian soy meal and expectations of a bumper soybean crop in South America will continue to weigh on prices. Prices may rise on lower arrivals in spot markets but then there would be correction. There was a lot of talk about hike in edible oil import duty. A decision in this regard was expected soon but according to government sources it is likely to be taken up next week. The Solvent Extractors Association has been lobbying for a hike in import duty on Refine edible oils to 12.5%, as imports of refined oils are increasing and affecting the domestic refining industry. Demand for soyoil is moderate in the domestic markets. Talk of hike in edible oil import duty will continue to impact soy futures. CORIANDER FUTURE Coriander futures are seen bullish on the National Commodity and Derivatives Exchange in the next five to six sessions due to concerns over weather amid likely lower acreage for the current season.Coriander yield is likely to be hit by cloudy weather in the key producer state of Rajasthan. Lesser year-ending stocks in the physical market will also support coriander prices. MENTHA FUTURE According to market sources, some farmers are still holding back their produce on anticipation of a further rise in the mentha oil prices, which is leading to subdued arrivals at the physical markets. We are noticing limited arrivals at the physical markets. The arrivals are hovering near 150 to 180 drums in the entire physical markets across Uttar Pradesh. Looking at the supply scenario, we believe that the restricted supplies at the spot markets together with the slight pickup in demand from domestic pharmaceutical companies might support mentha oil prices to some extent. Therefore, we are recommending remaining on the buying side for the January contract in today’s trading session.
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NCDEX WEEKLY Newsletter (06/JAN/2014)
NCDEX OIL & OIL SEEDS WEEKLY TECHNICAL LEVELS CASTOR SEED DAILY CANDLESTICK CHART
TRADING STRATEGY: BUY CASTORSEED FEB ABOVE 4650 TGTS 4750 / 4850 SL 4500 SELL CASTORSEED FEB BELOW 4420 TGTS 4320 / 4220 SL 4550
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NCDEX WEEKLY Newsletter (06/JAN/2014)
NCDEX PULSES WEEKLY TECHNICAL LEVELS CHANA DAILY CANDLESTICK CHART
TRADING STRATEGY: BUY CHANA JAN ABOVE 3120 TGTS 3220 / 3320 SL 2950 SELL CHANA JAN BELOW 3040 TGTS 2940 / 2840 SL 3170
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NCDEX WEEKLY Newsletter (06/JAN/2014)
NCDEX SPICES WEEKLY TECHNICAL LEVELS DHANIYA DAILY CANDLESTICK CHART
TRADING STRATEGY: BUY DHANIYA JAN ABOVE 8120 TGTS 8220 / 8320 SL 8000 SELL DHANIYA JAN BELOW 7945 TGTS 7845 / 7745 SL 8070
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NCDEX WEEKLY Newsletter (06/JAN/2014)
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NCDEX WEEKLY Newsletter (06/JAN/2014)
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