Daily agri report 04 jun 2014 by epic research

DAILY AGRI REPORT 04-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 Newsletter

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 @ 9520 & Immediate resistance @ 9590.

R1-9629

R2-9686

PP-9534

S1-9468

S2-9382

TRADING STRATEGY: BUY DHANIYA JUN ABOVE 9590 TGTS 9620,9670 SL 9540 SELL DHANIYA JUN BELOW 9520 TGTS 9490,9440 SL 9570

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NCDEX DAILY TECHNICAL LEVELS GUARSEED HOURLY CANDLESTICK CHART

Guarseed daily chart, Price bounce from support level, expecting from here onwards guarseed price may go up Momentum indicators RSI is above mid range. In intraday basis immediate support @ 5085 & immediate resistance @ 5155.

R1-5375

R2-5210

PP-5085

S1-5030

S2-4960

ITRADING STRATEGY: TRADING STRATEGY: BUY GUARSEED JUN ABOVE 5155 TGTS 5185,5235 SL 5105 SELL GUARSEED JUN BELOW 5085 TGTS 5055,5005 SL 5035R

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