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DAILY AGRI REPORT 3-APR-2014


NCDEX DAILY Newsletter

AGRI COMMODITY DAILY WRAP UP‌..!!!! SOYABEAN FUTURE Soybean futures are expected to trade on a mixed to negative note tracking weakness in the overseas markets and weak soy meal export demand. Soybean markets remained sideways with some demand from crushers in Madhya Pradesh. Firmness in International markets along with a pick up in demand at these lower levels supported the rates for Soybean. GUARSEED FUTURE Higher production reports, better arrivals have ensured a fall in rates over last few weeks. Farmers have started bringing in supplies from the new harvest into local markets. Guar arrivals are picking up, with output expected to rise due to good Monsoon rains in Rajasthan this year. CHANA FUTURE Chana futures are expected to trade on a negative note today. Good sowing reports from MP, UP and Rajasthan amidst high stocks, rise in imports and fall in demand have pressurized Chana rates for last few months. As per ministry of Agriculture reports, sown area for Rabi Pulses is projected at a record high 16.2 million. Significant improvement in yield to move above 900kg/ha was also possible due to conducive weather. CORIANDER FUTURE Coriander futures are likely to trade higher on forecast of lower output due to untimely rains in major producing areas of Madhya Pradesh and Rajasthan. As per market source, extremely low temperatures and unseasonal rains in Madhya Pradesh and Rajasthan have affected 20-25 percent of the total acreage. However, rising supply of new crop in Kota and Ramganj markets might cap major gains.

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NCDEX DAILY Newsletter

NCDEX DAILY TECHNICAL LEVELS DHANIYA HOURLY CANDLESTICK CHART

COMMENT:-On Technical chart Dhaniya apr is in bullish trend where dhaniya apr future made new high, Immediate support @ 9510 and immediate resistance @ 9655.Momentum indicators RSI and is above their mid range also support bullish trend in dhaniya. Expecting that rising in price will continue in upcoming trading session.

R1-9705

R2-9776

S1-9537

S2-9440

TRADING STRATEGY: BUY DHANIYA APR ABOVE 9655 TGTS 9675,9725 SL 9605 SELL DHANIYA APR BELOW 9510 TGTS 9480,9430 SL 9560 3|Page WWW.EPICRESEARCH.CO CALL: +917316642300

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NCDEX DAILY Newsletter

NCDEX DAILY TECHNICAL LEVELS GUARSEED HOURLY CANDLESTICK CHART

COMMENT:-Guarseed apr short term trend looking sideways to bearish in daily chart. Momentum indicators is in mid range. In intraday basis immediate support @ 4720 & immediate resistance @ 4785.

DITRADING STRATEGY: TRADING STRATEGY:

R1-4815

R2-4865

S1-4730

S2-4695

BUY GUARSEED APR ABOVE 4785 TGTS 4715,4765 SL 4735 SELL GUARSEED APR BELOW 4720 TGTS 4690,4640 SL 4770ER

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NCDEX DAILY Newsletter

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Daily agri report 03 april 2014 by epic research  

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