Daily agri report by capital stars 23 jan 2015

CAPITALSTARS FINANCIAL RESEARCH PVT. LTD.

DAILY AGRI REPORT 23 RD JANUARY 2015

DAILY AGRI COMMODITY REPORT

AGRI WRAP TURMERIC Turmeric April futures traded on a negative note on Thursday at India's National Commodity & Derivatives Exchange(NCDEX). Turmeric spice easied by -1.40% to 8476 level on Thursday (5.00pm) at NCDEX. Turmeric traded slightly lower as traders waited for the prices to cool before initiating fresh demand in mandis. Low stocks and lower production reports are however likely to support prices in the medium to long term. Demand from North India is also expected to rise in coming weeks.

TURMERIC (APRIL) DAILY CHART

TURMERIC (APRIL) TECHNICAL VIEW: TREND: BEARISH RESISTANCE 2: 8810, RESISTANCE 1: 8650, SUPPORT 1: 8365, SUPPORT 2: 8255.

STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT

SOYABEAN The NCDEX Soyabean February futures eased by by -0.85% in the last trading to close at 3364 level till Thursday closing.

Moderate firmness was noted for Soybean last week even as no strong recovery was noted in the International markets. Firm demand in domestic market kept trend slight firm as traders anticipate demand to rise even further in coming weeks.Higher projections for global production could however keep a tap on the rising rates.

SOYABEAN (FEBRUARY) DAILY CHART

SOYABEAN (FEBRUARY) TECHNICAL VIEW: TREND: MIXED TO BEARISH RESISTANCE 2:3445, RESISTANCE 1: 3400, SUPPORT 1: 3335, SUPPORT 2: 3305.

STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT

CHANA Chana futures traded on a negative note on incresed demand on Thursday. Chana January contract gained -2.40% to 3290 levels on Thursday (5.00PM).

Prices recovered from the lower levels on improved demand. The recent rains in some parts of Rajasthan had pressurized prices as that was considered beneficial for the standing crop. Any further rains in coming days there could again pressurize prices to some extent. However, lower sowing reports and expectations of a pick up in demand at the lower levels are likely to support the prices in coming weeks.

CHANA (FEBRUARY) DAILY CHART

CHANA (FEBRUARY) TECHNICAL VIEW: TREND: BEARISH RESISTANCE 2: 3405, RESISTANCE 1: 3350, SUPPORT 1: 3260, SUPPORT 2: 3225.

STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT

DHANIYA The NCDEX Dhaniya April futures surged up by 4% in the last trading to close at 7714 level on Thursday.

Sentiment weakened further as speculators reduced their positions on the back of sluggish demand in the market. Dhaniya is common in South Asian Middle Eastern Central Asian Mediterranean Indian Tex-Mex Latin American Portuguese Chinese African and Scandinavian.

DHANIYA (APRIL) DAILY CHART

DHANIYA (APRIL) TECHNICAL VIEW: TREND: MIXED TO BULLISH RESISTANCE 2: 7900, RESISTANCE 1: 7810, SUPPORT 1: 7525, SUPPORT 2: 7340, STRATEGY: BUY ON DIPS DAILY AGRI COMMODITY REPORT

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CAPITAL STARS FINANCIAL RESEARCH PRIVATE LIMITED PLOT NO. 12, SCHEME NO. 78, PART II VIJAYNAGAR INDORE 452001 (MP)

DAILY AGRI COMMODITY REPORT