Daily agri report by capital stars 30 jan 2015

CAPITALSTARS FINANCIAL RESEARCH PVT. LTD.

DAILY AGRI REPORT 30 TH JANUARY 2015

DAILY AGRI COMMODITY REPORT

AGRI WRAP TURMERIC Turmeric April futures traded on a positive note on Thursday at India's National Commodity & Derivatives Exchange(NCDEX). Turmeric spice easied by 1.94% to 8300 level on Thursday (5.00pm) at NCDEX. Lack of strong demand amidst higher arrivals in the mandis kept trend weak for Turmeric.

However with demand likely to rise in coming weeks at these lower levels, it could support the falling rates to some extent.

TURMERIC (APRIL) DAILY CHART

TURMERIC (APRIL) TECHNICAL VIEW: TREND: MIXED TO BULLISH RESISTANCE 2: 8430, RESISTANCE 1: 8370, SUPPORT 1: 8190, SUPPORT 2: 8070.

STRATEGY: BUY ON DIPS DAILY AGRI COMMODITY REPORT

SOYABEAN The NCDEX Soyabean February futures consolidate by 0.00% in the last trading to close at 3337 level till Thursday closing.

Pick up in demand amidst expected clear skies could support the market sentiments for Soybean this week after the recent fall in rates. However bearishness in International markets prevented strong uptrend even as good demand in domestic markets persisted. 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 2:3405, RESISTANCE 1: 3370, SUPPORT 1: 3310, SUPPORT 2: 3285.

STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT

CHANA Chana futures traded on a positive note on incresed demand on Thursday. Chana January contract gained 2.10% to 3410 levels on Thursday (5.00PM). recovery could be noted for Chana as rains in the growing states continued to pressurize market sentiments. Rains in growing areas in Rajasthan, MP and UP are reportedly beneficial for the standing crop.

CHANA (FEBRUARY) DAILY CHART

CHANA (FEBRUARY) TECHNICAL VIEW: TREND: BULLISH RESISTANCE 2: 3470, RESISTANCE 1: 3440, SUPPORT 1: 3365, SUPPORT 2: 3320.

STRATEGY: BUY ON DIPS DAILY AGRI COMMODITY REPORT

DHANIYA The NCDEX Dhaniya April futures surged by 0.97% in the last trading to close at 7810 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 BEARISH RESISTANCE 2: 7960, RESISTANCE 1: 7885, SUPPORT 1: 7700, SUPPORT 2: 7600, STRATEGY: SELL ON RISE 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