Weekly agri report 28 april 2014 by epic research

WEEKLY AGRI REPORT 28-MAR-2014

NCDEX WEEKLY Newsletter

AGRI COMMODITY WEEKLY WRAP UP‌..!!!!

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. 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.

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.

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NCDEX WEEKLY Newsletter

NCDEX WEEKLY TECHNICAL LEVELS DHANIYA 4 HOURLY CANDLESTICK CHART

R1-9610

R2-10008

S1-8975

S2-8738

TRADING STRATEGY: BUY DHANIYA ABOVE 9290 TGTS 9390,9490 SL 9140 SELL DHANIYA BELOW 9150 TGTS 9050,8950 SL 9300

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NCDEX WEEKLY Newsletter

NCDEX WEEKLY TECHNICAL LEVELS GUARSEED 4 HOURLY CANDLESTICK CHART

R1-5420

R2-5575

S1-4955

S2-4645

TRADING STRATEGY: BUY GUARSEED ABOVE 5280 TGTS 5380,5480 SL 5130 SELL GUARSEED BELOW 5220 TGTS 5120,5020 SL 5370

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NCDEX WEEKLY Newsletter

NCDEX WEEKLY TECHNICAL LEVELS CASTORSEED 4 HOURLY CANDLESTICK CHART

R1-4208

R2-4301

S1-3950

S2-3785

TRADING STRATEGY: BUY CASTORSEED ABOVE 4150 TGTS 4250,4350 SL 4000 SELL CASTORSEED BELOW 4050 TGTS 3950,3850 SL 4200

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NCDEX WEEKLY Newsletter

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