2. NCDEX WEEKLY Newsletter 4
AGRI COMMODITY WEEKLY WRAP UP…..!!!!
JEERA FUTURE
Jeera futures are likely to encounter fresh selling from higher levels due to weak export demand in local against
strong supplies in local mandies. The NCDEX futures are likely to test Rs 10890-10950 levels in the near term.
As per market sources, the export demand of jeera in local mandies will be underchecked at current levels on the
account of fresh supplies from Syria and Turkey in international market. The prices will also be pressurized by
higher supplies in local mandies. The spot market data suggested that daily arrivals of 20 thousand bags of jeera
have been reported in previous trading against the demand of 12 thousand bags. The spot prices of average
quality of jeera have been trading in the range of Rs 8800-10000 per quintal at Unjha mandi.
The NCDEX futures settled flat at Rs 11110 per quintal. The NCDEX futures added 1.20% in the last trading
indicating fresh selling by traders. Technically, prices are likely to witness fresh selling from 11180-11250 levels,
while supports at 10890-10950 levels in the near term.
WHEAT FUTURE
Selling continued in wheat futures from higher levels due to anticipation of higher procurement in the current
season along with thin offtake by millers at higher levels. The NCDEX futures declined by 0.57% today.
The market sources suggested that the estimated total procurement in Rabi 2014 is projected to be close to 31
million tonnes, which is much higher compared to last year. However, in the past, there had been apprehension of
lower procurement due to untimely rainfall in major producing states.
Despite weather vagaries and aggressive buying of wheat by private traders this season, procurement by the Food
Corporation of India (FCI) has touched 26.67 million tonnes (as on 23rd May 2014), as compared to 25.42 mt
during the same period last year. This is mainly due to higher procurement in Punjab , Haryana and Madhya
Pradesh. The states like Haryana has already reaches their procurement target of 65 lakh tonnes for the current
year.
The NCDEX July futures settled at Rs 1561 per quintal in the last trading, down 0.57% from the last day. The
NCDEX futures added 1.50% in open interest indicating fresh selling by traders.
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NCDEX WEEKLY TECHNICAL LEVELS
DHANIYA 4 HOURLY CANDLESTICK CHART
R1-9674 R2-9845 PP-9505 S1-9334 S2-9165
TRADING STRATEGY:
BUY DHANIYA JUN ABOVE 9590 TGTS 9690,9800 SL 9450
SELL DHANIYA JUN BELOW 9390 TGTS 9290,9190 SL 9540
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4. NCDEX WEEKLY Newsletter 4
NCDEX WEEKLY TECHNICAL LEVELS
GUARSEED 4 HOURLY CANDLESTICK CHART
R1-5342 R2-5443 PP-5203 S1-5102 S2-4963
TRADING STRATEGY:
BUY GUARSEED JUN ABOVE 5290 TGTS 5440,5640 SL 5090
SELL GUARSEED JUN BELOW 5130 TGTS 4980,4780 SL 5330
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5. NCDEX WEEKLY Newsletter 4
NCDEX WEEKLY TECHNICAL LEVELS
JEERA 4 HOURLY CANDLESTICK CHART
R1-11257 R2-11378 PP-11078 S1-10957 S2-10778
TRADING STRATEGY:
BUY JEERA JUN ABOVE 11250 TGTS 11450,11750 SL 10950
SELL JEERA JUN BELOW 10965 TGTS 10815,10515 SL 11250
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6. NCDEX WEEKLY Newsletter 4
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7. NCDEX WEEKLY Newsletter 4
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