Daily agri report by epic research 31 july 2014
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Transcript of Daily agri report by epic research 31 july 2014
DAILY AGRI REPORT
31-Jul-2014
NCDEX DAILY Newsletter 4)
AGRI COMMODITY DAILY WRAP UP…..!!!!
CHANA FUTURE
Chana found some support at lower level after recent massive correction in the prices. there was some pick up in thedemand as these low rate in the mandis. However rains in the central and north west india kept market sentiment forweak commodity. Monsoon progress for next few days remains critical. Sowing of Kharif Pulses are likely to get adverselyaffected if delayed and below normal Monsoon is maintained.
SOYABEAN FUTURE
Soybean Oct futures traded on a positive note on lower sowing, below normal rains till date as well as tight supply of soybean seeds. However, negative CBOT prices coupled with expectations of revival of the monsoon and weak soy meal exports pressurized prices at higher levels
CORIANDER FUTURE
Coriander futures slipped as most spices markets in Rajasthan are shut as tradersprotest 5 percent value added tax onspices. However, reports of crop damage in Romania and negligible stock in India may limit the major downtrend. Sowingof kharif crops have already been delayed due to scanty rains in the top producing states of Gujarat and Rajasthan.
JEERA FUTURE
Jeera futures may be range-bound with a negative bias due to thin buying in the spot market asRamzan shipments areover. However, medium-term outlook is still bullish as delayed kharif-sowing due tolow rainfall will also affect the rabicrop. Sowing of kharif crops have already been delayed in Gujarat and Rajasthan, thereby sowing in rabi season is likely toget delayed. As well, lower output in Syria and Turkey may limit sharp fall in prices.
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NCDEX DAILY TECHNICAL LEVELS
DHANIYA HOURLY CANDLESTICK CHART
Dhaniya Aug chart trend is bullish, Momentum Indicator RSI is above mid range, expecting price may go up Immediate support @ 11930 & Immediate resistance @ 11985.
R1-9629 R2-12110 PP-11914 S1-11801 S2-11718
TRADING STRATEGY: BUY DHANIYA AUG ABOVE 11985 TGTS 12015,12065 SL 11935 SELL DHANIYA AUG BELOW 11930 TGTS 11900,11850 SL 11980
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NCDEX DAILY TECHNICAL LEVELS
GUARSEED HOURLY CANDLESTICK CHART
In Guarseed chart, Price is in support level, expecting from here onwards guarseed price may go DownMomentum indicators RSI is above mid range. In intraday basis immediate support @ 5190 & immediate resistance @ 5250.
R1-5375 R2-5278 PP-5223 S1-5187 S2-5168
TRADING STRATEGY: BUY GUARSEED AUG BELOW 5250 TGTS 5280,5330 SL 5200 SELL GUARSEED AUG BELOW 5190 TGTS 5160,5110 SL 5240
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