Daily agri report 11 april 2014 by epic research

DAILY AGRI REPORT 11-APR-2014

NCDEX DAILY Newsletter

AGRI COMMODITY DAILY WRAP UP‌..!!!!

TURMERIC FUTURE India exported 50500 tonnes of turmeric for Rs.408.28 crore during April-November 2013, up 11 percent and 41 percent respectively in volume and value of exports over the same period last year. The Nizamabad market remained closed from Mar 28 to Apr 2 for the financial year end.

CARDAMOM FUTURE Cardamom futures may trade with a positive bias on firm overseas demand . Meanwhile, strong arrivals likely to limit sharp rise in prices.As per market source,the Spices Board of India has allowed cardamom producers to sell their produce directly to dealers licensed by the Board.

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.

JEERA FUTURE Jeera futures are expected to trade lower due to selling pressure as arrivals of the new crop are rising sharply in spot markets. The off take is likely to remain limited due to expectation of high output on significant rise in sowing. However, expectations of pick up in export may limit sharp fall in prices. As per the latest data by Gujarat Agriculture Board, total acreage of jeera in the state has been increased by 1.05 lakh hectares from the last year to 4.54 lakh hectares. Traders estimated that total production of jeera is likely to increase by 10 lakh bags to around 46 lakh bags in the current year.

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NCDEX DAILY TECHNICAL LEVELS DHANIYA HOURLY CANDLESTICK CHART

Dhaniya daily chart shows bullish trend. once again dhaniya fall form upper level. RSI is in mid range, Expecting from here onwards profit booking will continue in upcomming trading session. Immediate support @ 9370 & Immediate resistance @ 9450.

R1-9665

R2-9925

S1-9265

S2-9125

TRADING STRATEGY: BUY DHANIYA APR ABOVE 9450 TGTS 9480,9530 SL 9400 SELL DHANIYA APR BELOW 9370 TGTS 9340,9290 SL 9420 3|Page WWW.EPICRESEARCH.CO CALL: +917316642300

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NCDEX DAILY TECHNICAL LEVELS GUARSEED HOURLY CANDLESTICK CHART

Guarseed apr short term trend looking sideways to bearish in daily chart.Expecting from here onwards guarseed may go down Momentum indicators RSI is below mid range, signs bearishness In intraday basis immediate support @ 4510 & immediate resistance @ 4560.

R1-4548

R2-4572

S1-4503

S2-4482

ITRADING STRATEGY: TRADING STRATEGY: BUY GUARSEED APR ABOVE 4560 TGTS 4590,4640 SL 4510 SELL GUARSEED APR BELOW 4510 TGTS 4480,4430 SL 4560ER 4|Page WWW.EPICRESEARCH.CO CALL: +917316642300

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