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AGRI WRAP
TURMERIC
Turmeric futures dropped as the monsoon revived in key producing southern states, though
dwindling supplies limited the downside. The key August contract finished down 1.02 percent at
6,596 rupees per 100 kg.
TURMERIC (AUGUST) DAILY CHART
TURMERIC (AUGUST) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 6430,
SUPPORT 2: 6316,
RESISTENCE 1: 6830,
RESISTENCE 2: 7050.
STRATEGY: BUY ON DIPS
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SOYABEAN
Indian oilseeds and soyoil futures fell on Tuesday on a stronger rupee and following losses in
overseas markets, though a delay in soybean sowing in central India restricted the downside.
Chicago soy fell for a seventh session on Tuesday to trade near its lowest in five months as
near-perfect crop weather across the U.S. Midwest buoyed hopes of record production. A
stronger rupee makes imports of edible oil cheaper and trims returns of oilmeal exporters. The
rupee rose on Tuesday. The key October soybean contract on the National Commodity &
Derivatives Exchange fell 1.73 percent to 3,758 rupees per 100 kg, while the August rapeseed
contract eased 0.64 percent to 3,553 rupees per 100 kg.
SOYABEAN (OCTOBER) DAILY CHART
SOYABEAN (OCTOBER) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1:3690,
SUPPORT 2: 3660,
RESISTENCE 1: 3870,
RESISTENCE 2: 3945,
STRATEGY: SELL ON RISE
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CHANA
Chana, or chickpea, futures extended losses on ample supplies and government raids to check
hoarding. The August chana contract fell 1.29 percent to 2,755 rupees per 100 kg.
CHANA (AUGUST) DAILY CHART
CHANA (AUGUST) TECHNICAL VIEW:
TREND: BEARISH
SUPPORT 1: 2740,
SUPPORT 2: 2695,
RESISTENCE 1: 2840,
RESISTENCE 2: 2925.
STRATEGY: SELL ON RISE
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JEERA
Jeera, or cumin seed, futures fell on profit-taking and a slowdown in demand at higher prices.
The key August contract eased 0.65 percent to 11,480 rupees per 100 kg.
JEERA (AUGUST) DAILY CHART
JEERA (AUGUST) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 11370,
SUPPORT 2: 11250,
RESISTENCE 1: 11700,
RESISTENCE 2: 11820.
STRATEGY: BUY ON DIPS
6. DAILY AGRI COMMODITY REPORT
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CAPITAL STARS FINANCIAL
RESEARCH PRIVATE LIMITED
PLOT NO. 12, SCHEME NO. 78, PART II
VIJAYNAGAR INDORE 452001 (MP)
