Daily agri report by capital stars 9 feb 2015

CAPITALSTARS FINANCIAL RESEARCH PVT. LTD.

DAILY AGRI REPORT TH 9 FEBRUARY 2015

DAILY AGRI COMMODITY REPORT

AGRI WRAP TURMERIC Turmeric April futures traded on a positive note on Friday at India's National Commodity & Derivatives Exchange(NCDEX). Turmeric spice slipped by 0.28% to 7972 level on Friday (5.00pm) at NCDEX. Poor offtake from upcountry traders are affecting Turmeric prices. Good arrivals were noted in Nizamabad today as well and the prices tumbled amid thin demand. The traders are expecting this momentum to continue, keeping prices slightly on a bearish track.

TURMERIC (APRIL) DAILY CHART

TURMERIC (APRIL) TECHNICAL VIEW: TREND: CONSOLIDATE RESISTANCE 2: 8210, RESISTANCE 1: 8090, SUPPORT 1: 7860, SUPPORT 2: 7740.

STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT

SOYABEAN The NCDEX Soyabean April futures sluggished by -0.49% in the last trading to close at 3440 level till Friday closing.

Market managed to recover from early losses on short covering and firm international cues.

Moreover, bullish oil-complex sentiments also supported the trend. Meanwhile, higher projections for global production could however keep a cap on rising prices.

SOYABEAN (APRIL) DAILY CHART

SOYABEAN (APRIL) TECHNICAL VIEW: TREND: MIXED TO BEARISH RESISTANCE 2:3490, RESISTANCE 1: 3465, SUPPORT 1: 3420, SUPPORT 2: 3400.

STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT

CHANA Chana futures traded on a negative note on sluggished demand on Friday. Chana April contract gained -0.37% to 3537 levels on Friday (5.00PM).

No 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 (APRIL) DAILY CHART

CHANA (APRIL) TECHNICAL VIEW: TREND:CONSOLIDATE RESISTANCE 2: 3580, RESISTANCE 1: 3560, SUPPORT 1: 3520, SUPPORT 2: 3500.

STRATEGY: SELL ON RISE DAILY AGRI COMMODITY REPORT

DHANIYA The NCDEX Dhaniya April futures surged by 0.82% in the last trading to close at 7583 level on Friday.

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: 7730, RESISTANCE 1: 7660, SUPPORT 1: 7495, SUPPORT 2: 7400, 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