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Daily agri report 16  april- 2014 by epic research
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Daily agri report 16 april- 2014 by epic research

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  • 1. DAILY AGRI REPORT 16-APR-2014
  • 2. NCDEX DAILY Newsletter 4 AGRI COMMODITY DAILY WRAP UP…..!!!! MENTHAOIL FUTURE In menthaoil no major domestic demand and export cues are being noticed. beside this, the change in the arrivals pattern is further weighing on market sentiments. As the sowing is close to completion, farmers are willing to offload their holding stocks. However, concerns over the carryover stocks are still persisting because most of the carry forward stocks are with local stockists who are reluctant to sell their stocks due to the current price trend. We feel that the increase in supply from farmers coupled with the sluggish demand might pressurize mentha oil prices further. CHANA FUTURE Chana futures are expected to trade on a negative note today. Good sowing reports from MP, UP and Rajasthan amidst high stocks, rise in imports and fall in demand have pressurized Chana rates for last few months. As per ministry of Agriculture reports, sown area for Rabi Pulses is projected at a record high 16.2 million. Significant improvement in yield to move above 900kg/ha was also possible due to conducive weather. 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. 2 | P a g e WWW.EPICRESEARCH.CO CALL: +917316642300
  • 3. NCDEX DAILY Newsletter 4 NCDEX DAILY TECHNICAL LEVELS DHANIYA HOURLY CANDLESTICK CHART Dhaniya daily chart shows bullish trend. once again dhaniya fall form upper level. RSI is in mid range. Expecting from here onwards profit booking will continue in up comming trading session. Immediate support @ 9520 & Immediate resistance @ 9630. R1-9697 R2-9809 S1-9490 S2-9395 TRADING STRATEGY: BUY DHANIYA MAY ABOVE 9630 TGTS 9660,9710 SL 9580 SELL DHANIYA MAY BELOW 9520 TGTS 9490,9440 SL 9570 3 | P a g e WWW.EPICRESEARCH.CO CALL: +917316642300
  • 4. NCDEX DAILY Newsletter 4 NCDEX DAILY TECHNICAL LEVELS GUARSEED HOURLY CANDLESTICK CHART Guarseed apr short term trend looking sideways to bearish in daily chart. Momentum indicators RSI is above mid range,expecting may go up, In intraday basis immediate support @ 4840 & immediate resistance @ 4980. R1-4995 R2-5050 S1-4830 S2-4720 ITRADING STRATEGY: TRADING STRATEGY: BUY GUARSEED MAY ABOVE 4980 TGTS 5010,5060 SL 4930 SELL GUARSEED MAY BELOW 4840 TGTS 4810,4760 SL 4890 ER 4 | P a g e WWW.EPICRESEARCH.CO CALL: +917316642300
  • 5. NCDEX DAILY Newsletter 4 DISCLAIMER The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. Epic research recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of NSE and BSE. The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to epic research might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for . Any surfing and reading of the information is the acceptance of this disclaimer. All Rights Reserved. Investment in equity & bullion market has its own risks. We, however, do not vouch for the accuracy or the completeness thereof. we are not responsible for any loss incurred whatsoever for any financial profits or loss which may arise from the recommendations above epic research does not purport to be an invitation or an offer to buy or sell any financial instrument. Our Clients (Paid or Unpaid), Any third party or anyone else have no rights to forward or share our calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken. 5 | P a g e WWW.EPICRESEARCH.CO CALL: +917316642300
  • 6. NCDEX DAILY Newsletter 4 CONTACT US: WWW.EPICRESEARCH.CO Epic Research Private Limited Corporate Office 411 Milinda Manor (Suites 409 - 417) 2 RNT MargOpp Central Mall Indore (M.P.) Hotline: +91 731 664 2300 / 2427 / 2230 +91 97521 99966 Or give us a missed call at 026 5309 0639 6 | P a g e WWW.EPICRESEARCH.CO CALL: +917316642300