10 february 2016 NCDEX Agri news letter

Money Maker Research Pvt. Ltd.

Daily Agri Newsletter 10 FEBRUARY 2016

www.moneymakerfinancial.com An ISO 9001-2008 Company

HEADLINES j

Soybean prices range bound due to steady demand

RM seed prices gain on tight supply in the spot market

Chana prices gain on lower production of cereals and pulses

In NCDEX, Soybean March futures, yesterday opened on a negative note and traded down for most part of the day. The prices closed negatively witnessing profit booking and taking bearish cues from the spot market. Soybean future prices closed the day at Rs. 3775 per quintal, with posting a loss of 0.24% from its previous close. Sell on high recommended for the today’s trading session.

RM Seed April futures at NCDEX platform yesterday opened on a negative note and traded up for most part of the day. The prices closed higher on moderate increase in buying in the domestic market amid moderate decline in arrivals. RM seed future prices closed the day at Rs. 3933 per quintal, with marginal gain of 1.63% from its previous close. Buy on dips recommended for the today’s trading session.

During yesterday’s trading session NCDEX Chana April opened positive and traded upside during most part of the day and also ended the day upside. NCDEX Chana April futures ended the day at Rs. 4289 per quintal which is 1.20% up against the previous day. This year there is expectation of very minimal decline in production of cereals and pulses. NCDEX Chana futures are expected to trade within a range during today’s trading session.

P I V O T TA B L E % CHANGE CHANGE PIV O T R2 TAR1B L S1E

SCRIP

CLOSE

S2

STRATEGY

MENTHA OIL (FEB.)

908.4

-12.1

-1.31

936

921

894

882

SELL ON HIGH

SUGARM (MAR.)

3074

20

0.65

3124

3099

3054

3029

SELL ON HIGH

SOYBEAN (MAR.)

3775

-9

-0.24

3850

3805

3740

3715

SELL ON HIGH

CHANA (APR.)

4289

51

1.2

4364

4319

4254

4229

BUY ON DIPS

GUARSEED (MAR.)

3060

-2

-0.07

3195

3120

2985

2900

SELL ON HIGH

RMSEED (APR.)

3933

63

1.63

4053

3983

3873

3793

BUY ON DIPS

DHANIYA (APR.)

6516

112

1.75

6826

6646

6366

6166

BUY ON DIPS

JEERA (APR.)

14260

280

2

14690

14440

14110

13860

BUY ON DIPS

TURMERIC (APR.)

8930

284

3.28

9120

8990

8850

8710

SELL ON HIGH

CHARTIST

PICK

BUY JEERA APR ABOVE 14000 AND MAINTAIN STOP LOSS BELOW 13800. WE CAN SEE THE TARGETS AROUND 14150/14300

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