2. NCDEX DAILY Newsletter 4
AGRI COMMODITY DAILY WRAP UP…..!!!!
TURMERIC FUTURE
Turmeric prices also followed the bearish sentiments with poor demand in the physical markets coupled with
news of monsoon advancement in the turmeric growing areas. Some demand is likely to come in for all grades at
lower levels as stockiest are likely to hoard and sale when exporters move into the market. Monsoon did move in
the coastal belt of Kerala, however, showers are likely to be seen during next week in the peninsular India.
JEERA FUTURE
Jeera prices could not sustain the highs as supplies improved amid timid demand from exporters. The Dollar/Re
movement would be important for the export realizations. A steady Dollar will support the prices with higher
exports getting noted. Good quality arrivals have ensured Jeera rates are fetching a premium w.r.t. International
markets. Low stocks in global trade and political unrest in Turkey and Syria have pushed the export demand to
Indian shores.
GUARSEED FUTURE
Guarseed on Thursday ended southward on slow trade activities and good weather ahead. The guar crop requires
very limited water for production and due to low maintenance and good returns the acreage is on the rise in
irrigated parts of Rajasthan. Guar is the most volatile commodity as there is a high percentage of speculation
based on rains, however, the requirement for the crop is very nominal.
SOYABEAN FUTURE
Soybean continued the southwards push on weak demand from buyers. Sowing progress have increased in last
two days across the western parts of the country. U.S. corn and soybean futures rose for the second straight
session on Thursday, supported by concerns that heavy rains in some growing areas of the United States may have
caused damage to developing crops.
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NCDEX DAILY TECHNICAL LEVELS
DHANIYA HOURLY CANDLESTICK CHART
Dhaniya july daily chart trend is bullish, Momentum Indicator RSI is in overbought zone, expecting price may go up
Immediate support @ 10500 & Immediate resistance @ 10630.
R1-9629 R2-10726 PP-10578 S1-10503 S2-10430
TRADING STRATEGY:
BUY DHANIYA JUL ABOVE 10630 TGTS 10660,10710 SL 10580
SELL DHANIYA JUL BELOW 10500 TGTS 10470,10420 SL 10550
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NCDEX DAILY TECHNICAL LEVELS
GUARSEED HOURLY CANDLESTICK CHART
Guarseed daily chart, Price bounce from support level, expecting from here onwards guarseed price may go UP
Momentum indicators RSI is above mid range. In intraday basis immediate support @ 5550 & immediate resistance @ 5680.
R1-5375 R2-5778 PP-5638 S1-5567 S2-5498
ITRADING STRATEGY:
TRADING STRATEGY:
BUY GUARSEED JUL ABOVE 5680 TGTS 5710,5760 SL 5630
SELL GUARSEED JUL BELOW 5550 TGTS 5520,5470 SL 5600R
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