Money Maker Research Pvt. Ltd.
Daily Agri Newsletter 8 FEBRUARY 2016
www.moneymakerfinancial.com An ISO 9001-2008 Company
HEADLINES j
Soybean prices sustain at higher levels on weak production
During the yesterday’s trading session, Soybean February futures, yesterday opened on a positive note and traded up for most part of the day. Soybean Prices sustain at higher levels on weak production. Soybean Mar contract closed the day at Rs.3815 per quintal, with marginal gains of 0.87% from its previous close. Buy on dips for the today’s trading session.
RM seed prices extend its losses on weak demand
RM Seed April futures at NCDEX platform yesterday opened on a negative note and it traded down for most part of the day. The prices closed down due to higher production estimate. RM seed May contract closed the day at Rs.3906 per quintal, with marginal gains of 0.59% from its previous close. We continue to sell RM seed futures due to intrinsic bearishness in the market. Higher production prospects
Guar seed and Gum prices mild recovered on short covering
During last trading session guar seed and guar gum traded towards positive note and ended at Rs. 3047/quintal and 5690/quintal by posting a gain of 0.59% and 1.07% respectively. We are expecting guar seed will be on range bound trend while guar gum will be trading towards negative note as domestic demand of seed from processing units may have positive impact on futures market while weak demand of guar gum at domestic as well as global market may have pressure on prices..
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.)
904.5
-11.1
-1.21
932
917
890
878
SELL ON HIGH
SUGARM (MAY.)
3169
-12
-0.38
3219
3194
3149
3124
SELL ON HIGH
SOYBEAN (MAR.)
3815
33
0.87
3890
3845
3780
3755
BUY ON DIPS
CHANA (MAY.)
4123
7
0.17
4198
4153
4088
4063
SELL ON HIGH
GUARSEED (MAR.)
3047
18
0.59
3182
3107
2972
2887
SELL ON HIGH
RMSEED (MAY.)
3906
-23
-0.59
4026
3956
3846
3766
SELL ON HIGH
DHANIYA (MAY.)
6370
-117
-1.8
6680
6500
6220
6020
SELL ON HIGH
JEERA (APR.)
13630
-115
-0.84
14060
13810
13480
13230
SELL ON HIGH
TURMERIC (APR.)
8560
30
0.35
8750
8620
8480
8340
SELL ON HIGH
CHARTIST
PICK
BUY JEERA APR ABOVE 13650 AND MAINTAIN STOP LOSS BELOW 13550. WE CAN SEE THE TARGETS AROUND 13750/13850
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