Turmeric futures traded positively on Thursday but ended the day down 1.94% due to higher arrivals and lack of strong demand. Soybean futures consolidated at 0.00% as good domestic demand was offset by bearish international markets. Chana futures gained 2.10% on increased demand and beneficial rains in growing areas. Dhaniya futures surged 0.97% but sentiment weakened due to sluggish demand. The report provides daily commodity updates and technical analyses for Turmeric, Soybean, Chana, and Dhaniya futures contracts.
1. DAILY AGRI COMMODITY REPORT
CAPITALSTARS FINANCIAL RESEARCH PVT. LTD.
DAILY AGRI REPORT
30TH
JANUARY 2015
2. DAILY AGRI COMMODITY REPORT
AGRI WRAP
TURMERIC
Turmeric April futures traded on a positive note on Thursday at India's National Commodity &
Derivatives Exchange(NCDEX). Turmeric spice easied by 1.94% to 8300 level on Thursday
(5.00pm) at NCDEX.
Lack of strong demand amidst higher arrivals in the mandis kept trend weak for Turmeric.
However with demand likely to rise in coming weeks at these lower levels, it could support the
falling rates to some extent.
TURMERIC (APRIL) DAILY CHART
TURMERIC (APRIL) TECHNICAL VIEW:
TREND: MIXED TO BULLISH
RESISTANCE 2: 8430,
RESISTANCE 1: 8370,
SUPPORT 1: 8190,
SUPPORT 2: 8070.
STRATEGY: BUY ON DIPS
3. DAILY AGRI COMMODITY REPORT
SOYABEAN
The NCDEX Soyabean February futures consolidate by 0.00% in the last trading to close at 3337
level till Thursday closing.
Pick up in demand amidst expected clear skies could support the market sentiments for
Soybean this week after the recent fall in rates. However bearishness in International markets
prevented strong uptrend even as good demand in domestic markets persisted. 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 2:3405,
RESISTANCE 1: 3370,
SUPPORT 1: 3310,
SUPPORT 2: 3285.
STRATEGY: SELL ON RISE
4. DAILY AGRI COMMODITY REPORT
CHANA
Chana futures traded on a positive note on incresed demand on Thursday. Chana January
contract gained 2.10% to 3410 levels on Thursday (5.00PM).
recovery could be noted for Chana as rains in the growing states continued to pressurize
market sentiments. Rains in growing areas in Rajasthan, MP and UP are reportedly beneficial
for the standing crop.
CHANA (FEBRUARY) DAILY CHART
CHANA (FEBRUARY) TECHNICAL VIEW:
TREND: BULLISH
RESISTANCE 2: 3470,
RESISTANCE 1: 3440,
SUPPORT 1: 3365,
SUPPORT 2: 3320.
STRATEGY: BUY ON DIPS
5. DAILY AGRI COMMODITY REPORT
DHANIYA
The NCDEX Dhaniya April futures surged by 0.97% in the last trading to close at 7810 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 BEARISH
RESISTANCE 2: 7960,
RESISTANCE 1: 7885,
SUPPORT 1: 7700,
SUPPORT 2: 7600,
STRATEGY: SELL ON RISE
6. DAILY AGRI COMMODITY REPORT
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