Daily agri report 02 jun 2014 by epic research

DAILY AGRI REPORT 02-JUN-2014

NCDEX DAILY Newsletter

AGRI COMMODITY DAILY WRAP UP‌..!!!!

CHANA FUTURE Chana prices rose by 1.17% to Rs 2,855 per quintal in futures trade today as traders enlarged their holdings driven by rising demand in spot markets.At the National Commodity and Derivatives Exchange, chana for June delivery rose by Rs 33, or 1.17%, to Rs 2,855 per quintal, with an open interest for 92,170 lots.

Similarly, chana for delivery in July increased by Rs 32, or 1.11%, to Rs 2,918 per quintal, with an open interest of 1,08,490 lots.Traders said the rise in chana prices at futures trade was mostly on the back of fresh positions created by speculators supported by rising demand in the spot markets.

CARDAMUM FUTURE Cardamom prices rose by Rs 8.70 to Rs 921 per kg in futures trade today, largely in tandem with a firming trend in spot markets on rising demand amid restricted arrivals.On the Multi Commodity Exchange, cardamom for July delivery surged by Rs 8.70, or 0.95 per cent, to Rs 921 per kg in a business volume of 171 lots. The June contract gained Rs 2.40, or 0.26 per cent, to Rs 910 per kg in a business volume of 198 lots. Traders said pick-up in demand in the spot markets against restricted arrivals from producing regions, influenced cardamom prices in futures trade.

MAIZE FUTURE Maize prices rose by Rs 20 to Rs 1,130 per quintal in futures trading today largely in line with rising demand at spot market. At the National Commodity and Derivatives Exchange counter, maize for the delivery in June shot up

by Rs 20, or 1.80%, to Rs 1,130 per quintal, with an open interest of 23,110 lots. Similarly, the July contracts also traded Rs 16, or 1.39%, higher at Rs 1,164 per quintal, with an open interest of 35,830 lots. Marketmen said rise in demand against restricted supplies in physical markets mainly pushed up the rise in maize prices in futures trade.

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NCDEX DAILY TECHNICAL LEVELS DHANIYA HOURLY CANDLESTICK CHART

Dhaniya jun daily chart Consolidating in upper range trend is bullish,trend is bullish RSI is in mid range Immediate support @ 9396 & Immediate resistance @ 9530.

R1-9554

R2-9602

PP-9481

S1-9433

S2-9360

TRADING STRATEGY: BUY DHANIYA JUN ABOVE 9540 TGTS 9560,9600 SL 9505 SELL DHANIYA JUN BELOW 9450 TGTS 9430,9400 SL 9485

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NCDEX DAILY TECHNICAL LEVELS GUARSEED HOURLY CANDLESTICK CHART

Guarseed daily chart, Price had taker support at 5150 level. expecting from here onwards guarseed price may go up Momentum indicators RSI is above mid range. In intraday basis immediate support @ 5131 & immediate resistance @ 5300.

R1-5312

R2-5383

PP-5203

S1-5131

S2-5023

ITRADING STRATEGY: TRADING STRATEGY: BUY GUARSEED JUN ABOVE 5280 TGTS 5310,5350 SL 5385 SELL GUARSEED JUN BELOW 5170 TGTS 5340,5100 SL 5220R

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