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DAILY AGRI REPORT 07-MAY-2014


NCDEX DAILY Newsletter

AGRI COMMODITY DAILY WRAP UP‌..!!!! GUARSEED FUTURE Fundamentals had remained weak for last few months as huge carryover stocks from last year, low export demand and better sowing reports from good rains in Rajasthan, Haryana and Gujarat had kept prices down Even with higher stocks in domestic markets, reports indicate stocks in International markets which was high earlier, has fallen over last few months. 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. CHANA FUTURE Chana rates firmed up further as domestic demand rose in the mandis and a fall in arrivals at these lower levels further supported the sentiments. Traders anticipate present rates to be on the lower side and expect demand to start picking up further in coming days. Slight fall in crop quality in Maharashtra, MP and Rajasthan have been reported. Prospects of demand rising ahead are likely to keep sentiments Bullish in the medium term though short term trend likely to remain volatile. REFINED SOYA FUTURE Refined Soya markets continued the firm sentiments due to good buying support and strong support from international market with supplies drying off from the major exporters. Soybeans rose the most in two weeks on speculation that increased demand will reduce supplies in the U.S.

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NCDEX DAILY Newsletter

NCDEX DAILY TECHNICAL LEVELS DHANIYA HOURLY CANDLESTICK CHART

Dhaniya daily chart,price bounce back from resistance,buy our expectation is price may go up trend is bullish. momentum indicator RSI is in mid range Immediate support @ 9460 & Immediate resistance @ 9530.

R1-9629

R2-9723

S1-9419

S2-9325

TRADING STRATEGY: BUY DHANIYA MAY ABOVE 9530 TGTS 9560,9610 SL 9480 SELL DHANIYA MAY BELOW 9460 TGTS 9430,9380 SL 9510

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NCDEX DAILY Newsletter

NCDEX DAILY TECHNICAL LEVELS GUARSEED HOURLY CANDLESTICK CHART

Guarseed may daily chart,trend is in bullish. expecting from here onwards guarseed price may go up Momentum indicators RSI is below overbought zone signs bullishness. In intraday basis immediate support @ 5280 & immediate resistance @ 5575.

R1-5500

R2-5610

S1-5280

S2-5170

ITRADING STRATEGY: TRADING STRATEGY: BUY GUARSEED MAY ABOVE 5375 TGTS 5405,5455 SL 5325 SELL GUARSEED MAY BELOW 5280 TGTS 5250,5200 SL 5330R

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NCDEX DAILY Newsletter

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Daily agri report 07 may 2014 by epic research  

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