DAILY AGRI REPORT

07-Aug-2014

NCDEX DAILY Newsletter 4)

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 asthese 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 andbelow 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 cropshave 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 ofkharif 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 TECHNICAL LEVELS

DHANIYA HOURLY CANDLESTICK CHART

Dhaniya Aug chart trend is bullish, Momentum Indicator RSI is at mid range, expecting price may go up Immediate support @ 11730 & Immediate resistance @ 11800.

R1-11892 R2-12020 PP-11771 S1-11643 S2-11522

TRADING STRATEGY: BUY DHANIYA AUG ABOVE 11800 TGTS 11830,11880 SL 11750 SELL DHANIYA AUG BELOW 11730 TGTS 11700,11650 SL 11780

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NCDEX DAILY TECHNICAL LEVELS

GUARSEED HOURLY CANDLESTICK CHART

In Guarseed chart, Price is in support level, expecting from here onwards guarseed price may go UpMomentum indicators RSI is above mid range. In intraday basis immediate support @ 5045 & immediate resistance @ 5085.

R1-5110 R2-5145 PP-5050 S1-5015 S2-4955

TRADING STRATEGY: BUY GUARSEED AUG ABOVE 5085 TGTS 5115,5165 SL 5035 SELL GUARSEED AUG BELOW 5045 TGTS 5015,4965 SL 5095

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