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2. DAILY AGRI COMMODITY REPORT
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AGRI WRAP
TURMERIC
Turmeric futures fell due to a revival in monsoon rains in key producing southern states. The
key August contract finished 0.58 percent lower at 6,538 rupees per 100 kg.
TURMERIC (AUGUST) DAILY CHART
TURMERIC (AUGUST) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 6420,
SUPPORT 2: 6316,
RESISTENCE 1: 6830,
RESISTENCE 2: 7000.
STRATEGY: BUY ON DIPS
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SOYABEAN
Indian soybean recovered from early lows to end flat, helped by delayed sowing in the top
producing state of Madhya Pradesh due to scanty rainfall. The key October soybean contract
closed 0.03 percent lower at 3,689 rupees per 100 kg, while the August rapeseed contract fell
0.36 percent to end at 3,608 rupees per 100 kg. The USDA now expects the U.S. soybean
harvest to grow by 4.5 percent to a record 3.8 billion bushels, topping analysts' expectations by
0.7 percent.
SOYABEAN (OCTOBER) DAILY CHART
SOYABEAN (OCTOBER) TECHNICAL VIEW:
TREND: BEARISH
SUPPORT 1:3660,
SUPPORT 2: 3590,
RESISTENCE 1: 3780,
RESISTENCE 2: 3840,
STRATEGY: SELL ON RISE
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CHANA
Chana, or chickpea, futures fell due to ample supplies in the domestic market. The August
chana contract fell 0.96 percent to 2,862 rupees per 100 kg.
CHANA (AUGUST) DAILY CHART
CHANA (AUGUST) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 2840,
SUPPORT 2: 2740,
RESISTENCE 1: 2895,
RESISTENCE 2: 2925.
STRATEGY: SELL ON RISE
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JEERA
Jeera, or cumin seed, futures fell due to higher supplies in the spot market. The key August
contract ended 0.47 percent lower at 11,670 rupees per 100 kg.
JEERA (AUGUST) DAILY CHART
JEERA (AUGUST) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 11400,
SUPPORT 2: 11250,
RESISTENCE 1: 11780,
RESISTENCE 2: 111850.
STRATEGY: BUY ON DIPS
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CAPITAL STARS FINANCIAL
RESEARCH PRIVATE LIMITED
PLOT NO. 12, SCHEME NO. 78, PART II
VIJAYNAGAR INDORE 452001 (MP)