Daily agri report by epic research 17 july 2014

DAILY AGRI REPORT 17-Jul-2014

NCDEX DAILY Newsletter

AGRI COMMODITY DAILY WRAP UP‌..!!!!

CHANA FUTURE Chana futures may trade on a mixed note. Prices may recover from lower levels extending previous day’s gains on short coverings coupled with value buying and lower kharif pulses sowing till date. However, fears of tightening of stock limits, revival of monsoon and expectations of improvement in sowing of kharif pulses may cap the upside and pressurize prices at higher levels.

SOYABEAN FUTURE Soybean futures are expected to trade on a negative note. A pickup in the sowing activities coupled with weak overseas markets and soy meal exports may pressurize prices. However, lower sowing till date coupled with below normal rains,tight supplies and lower availability of seeds for sowing may support prices at lower levels.

CORIANDER FUTURE Coriander futures are expected to trade higher on concerns over crop output in major producers Bulgaria and Romania due to unfavorable weather. Projected decline in coriander production in India compared to last year too pushed up coriander prices. The Forward Markets Commission has approved modification of basis quote to exclude sales tax and value-added tax (VAT) from coriander futures on the National Commodity and Derivatives Exchange.

SUGAR FUTURE Sugar futures are expected to trade on a mixed to negative note. Weak demand, higher supplies and lack of fresh export orders may keep prices under downside pressure. However, Incentive announced by the government and below normal rains may support prices at lower levels.

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NCDEX DAILY Newsletter

NCDEX DAILY TECHNICAL LEVELS DHANIYA HOURLY CANDLESTICK CHART

Dhaniya Aug chart trend is bullish, Momentum Indicator RSI is above mid range, expecting price may go up Immediate support @ 11985& Immediate resistance @ 12075.

R1-9629

R2-11447

PP-11317

S1-11273

S2-11187

TRADING STRATEGY: BUY DHANIYA AUG ABOVE 12075 TGTS 12105,12155 SL 12025 SELL DHANIYA AUG BELOW 11985 TGTS 11955,11905 SL 12035

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NCDEX DAILY Newsletter

NCDEX DAILY TECHNICAL LEVELS GUARSEED HOURLY CANDLESTICK CHART

In Guarseed chart, Price is in support level, expecting from here onwards guarseed price may go Down Momentum indicators RSI is below mid range. In intraday basis immediate support @ 5590 & immediate resistance @ 5670.

R1-5375

R2-5857

PP-5642

S1-5548

S2-5427

TRADING STRATEGY: BUY GUARSEED AUG ABOVE 5670 TGTS 5700,5750 SL 5620 SELL GUARSEED AUG BELOW 5590 TGTS 5560,5510 SL 5640

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NCDEX DAILY Newsletter

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NCDEX DAILY Newsletter

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