Daily agri report by epic research 31 july 2014

DAILY AGRI REPORT 31-Jul-2014

NCDEX DAILY Newsletter

AGRI COMMODITY DAILY WRAP UP‌..!!!!

CHANA FUTURE Chana found some support at lower level after recent massive correction in the prices. there was some pick up in the demand as these low rate in the mandis. However rains in the central and north west india kept market sentiment for weak commodity. Monsoon progress for next few days remains critical. Sowing of Kharif Pulses are likely to get adversely affected if delayed and below normal Monsoon is maintained.

SOYABEAN FUTURE Soybean Oct futures traded on a positive note on lower sowing, below normal rains till date as well as tight supply of soybean seeds. However, negative CBOT prices coupled with expectations of revival of the monsoon and weak soy meal exports pressurized prices at higher levels CORIANDER FUTURE Coriander futures slipped as most spices markets in Rajasthan are shut as tradersprotest 5 percent value added tax on spices. However, reports of crop damage in Romania and negligible stock in India may limit the major downtrend. Sowing of kharif crops have already been delayed due to scanty rains in the top producing states of Gujarat and Rajasthan.

JEERA FUTURE Jeera futures may be range-bound with a negative bias due to thin buying in the spot market asRamzan shipments are over. However, medium-term outlook is still bullish as delayed kharif-sowing due tolow rainfall will also affect the rabi crop. Sowing of kharif crops have already been delayed in Gujarat and Rajasthan, thereby sowing in rabi season is likely to get delayed. As well, lower output in Syria and Turkey may limit sharp fall in prices.

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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 @ 11930 & Immediate resistance @ 11985.

R1-9629

R2-12110

PP-11914

S1-11801

S2-11718

TRADING STRATEGY: BUY DHANIYA AUG ABOVE 11985 TGTS 12015,12065 SL 11935 SELL DHANIYA AUG BELOW 11930 TGTS 11900,11850 SL 11980

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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 above mid range. In intraday basis immediate support @ 5190 & immediate resistance @ 5250.

R1-5375

R2-5278

PP-5223

S1-5187

S2-5168

TRADING STRATEGY: BUY GUARSEED AUG BELOW 5250 TGTS 5280,5330 SL 5200 SELL GUARSEED AUG BELOW 5190 TGTS 5160,5110 SL 5240

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NCDEX DAILY Newsletter

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NCDEX DAILY Newsletter

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