Turmeric futures declined on Thursday as traders waited for prices to stabilize before increasing demand. Lower stockpiles and reduced production may support prices over the medium to long term. Soybean futures also fell slightly despite steady domestic demand, as higher global supply forecasts could limit price growth. Chana futures dropped after recent rains in parts of Rajasthan increased supply concerns, though follow-up rains or picking demand could push prices back up. Dhaniya futures rose 4% due to buying activity, reversing earlier weakness driven by sluggish demand. Technical analyses were provided for each commodity.

1. DAILY AGRI COMMODITY REPORT
CAPITALSTARS FINANCIAL RESEARCH PVT. LTD.
DAILY AGRI REPORT
23RD
JANUARY 2015

2. DAILY AGRI COMMODITY REPORT
AGRI WRAP
TURMERIC
Turmeric April futures traded on a negative note on Thursday at India's National Commodity &
Derivatives Exchange(NCDEX). Turmeric spice easied by -1.40% to 8476 level on Thursday
(5.00pm) at NCDEX.
Turmeric traded slightly lower as traders waited for the prices to cool before initiating fresh
demand in mandis. Low stocks and lower production reports are however likely to support
prices in the medium to long term. Demand from North India is also expected to rise in coming
weeks.
TURMERIC (APRIL) DAILY CHART
TURMERIC (APRIL) TECHNICAL VIEW:
TREND: BEARISH
RESISTANCE 2: 8810,
RESISTANCE 1: 8650,
SUPPORT 1: 8365,
SUPPORT 2: 8255.
STRATEGY: SELL ON RISE

3. DAILY AGRI COMMODITY REPORT
SOYABEAN
The NCDEX Soyabean February futures eased by by -0.85% in the last trading to close at 3364
level till Thursday closing.
Moderate firmness was noted for Soybean last week even as no strong recovery was noted in
the International markets. Firm demand in domestic market kept trend slight firm as traders
anticipate demand to rise even further in coming weeks.Higher projections for global
production could however keep a tap on the rising rates.
SOYABEAN (FEBRUARY) DAILY CHART
SOYABEAN (FEBRUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2:3445,
RESISTANCE 1: 3400,
SUPPORT 1: 3335,
SUPPORT 2: 3305.
STRATEGY: SELL ON RISE

4. DAILY AGRI COMMODITY REPORT
CHANA
Chana futures traded on a negative note on incresed demand on Thursday. Chana January
contract gained -2.40% to 3290 levels on Thursday (5.00PM).
Prices recovered from the lower levels on improved demand. The recent rains in some parts of
Rajasthan had pressurized prices as that was considered beneficial for the standing crop. Any
further rains in coming days there could again pressurize prices to some extent. However, lower
sowing reports and expectations of a pick up in demand at the lower levels are likely to support
the prices in coming weeks.
CHANA (FEBRUARY) DAILY CHART
CHANA (FEBRUARY) TECHNICAL VIEW:
TREND: BEARISH
RESISTANCE 2: 3405,
RESISTANCE 1: 3350,
SUPPORT 1: 3260,
SUPPORT 2: 3225.
STRATEGY: SELL ON RISE

5. DAILY AGRI COMMODITY REPORT
DHANIYA
The NCDEX Dhaniya April futures surged up by 4% in the last trading to close at 7714 level on
Thursday.
Sentiment weakened further as speculators reduced their positions on the back of sluggish
demand in the market. Dhaniya is common in South Asian Middle Eastern Central Asian
Mediterranean Indian Tex-Mex Latin American Portuguese Chinese African and Scandinavian.
DHANIYA (APRIL) DAILY CHART
DHANIYA (APRIL) TECHNICAL VIEW:
TREND: MIXED TO BULLISH
RESISTANCE 2: 7900,
RESISTANCE 1: 7810,
SUPPORT 1: 7525,
SUPPORT 2: 7340,
STRATEGY: BUY ON DIPS

6. DAILY AGRI COMMODITY REPORT
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