Daily Ncdex Report 2-1-2015

8/10/2019 Daily Ncdex Report 2-1-2015

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02/01/2015


2/5

MC PR D ILY TECHNIC L CH RT

Date and Time

02/JAN/2015

STOCK:TURMERIC

APR

Call: SELLCMP: 9260

Initiation Level:

Around 9480

Book Profit (Level 1):

9230


9080

Stop Loss: Above 9700

Conviction Level:

Moderate Risk.

Reasoning. (Read

Technical

commentary).

Short term Trend:

Bullish .

Medium Term Trend:

Bullish.

For the Traders: SELL

For Aggressive

Traders: SELL

Support: 9080-8840-

8630

Resistance-9450-

9700-10080

Duration: 4-5 Days

Recommendation:-

On the basics of technical

and fundamental analysis

we are Recommending to

sell on rise Tmc Apr

around (9450) with the

Stop Loss of 9750 for the

Targets of 9080 and 8880.

TURMERIC APR NCDEXTurmeric Apr NCDEX: Prices skyrocketed in past few session from the low of 8040 dated 22

dec 2014.Prices traded higher previous session and made high 4% upper circuit 9348 later

closed higher at 9348 levels. Besides, the decrease in OI may keep profit booking for the next

couple of days. With harvesting yet to pick up strongly, any demand has to be met from the

current stock and this factor has been supporting the falling rates to some extent. As per

reports from Spice Board of India, the estimated exports of Turmeric during April-December

2013 was pegged at 58000 MT, up by 17% same period previous year. In value terms, it was up

by 45% at Rs 463.8 Cr.

However, unable coming demand from overseas so could see a range bound market and major

weakness is seen only if prices rupture support of 8680 could see downside bias towards 8300

followed by 8040 that could negate present uptrend in the near term. Hence, we recommend

only sell on rise around 9480 levels for the day.


3/5

Date and Time

02/JAN/2015

STOCK: JEERA feb

Call: SELLCMP: 15935

Initiation Level: Around

16700


16280


15880

Stop Loss: 17100

Conviction Level:

Moderate Risk.Reasoning. (Read

Technical commentary).

Short term Trend:

Bullish .

Medium Term Trend:

Bullish.


For Aggressive Traders:

SELL

Support: 14900-14390-

13890

Resistance-15600-

16280-16880

Duration: 4-5 Days

Recommendation:-

On the basics of Technical


we are Recommending Sell

Jeera FEB around 15700 for

the target of 14900 14300

with a strict a stop loss of

16080.

EERA FEB NCDEX

Jeera Jan NCDEX: Prices fired previous couple of sessions from the low of 13830 dated 22

dec 2014 and Prices traded choppy in previous session made high 16540 and later closed

lower at 15935 levels. Besides, the decrease in OI may keep profit booking for the next coupleof days. Jeera as overall Fundamentals remained strong. Rise in exports and expectations of a

fall in production kept trend Bullish even as International markets close for the New Year

Holidays. The exports are likely to slow down for the week any break below the support of

14900 could see downside bias towards 14730 followed by 14390 levels. However, the

volume is seen steadying these days along with a decline in OI suggests a sideways directive

moves. On the other side, if prices breach the resistance of 15800 could turn the outlook into

positive territory in the near term. Hence, we recommend sell on rise around 16700 for the

day.

JEER FEB D ILY TECHNIC L CH RT

CCH TECHNIC LCH RT


4/5

Date and Time

02/JAN/2015

STOCK: CHANA FEB

NCDEX

Call: SELL

CMP: 3471

Initiation Level:

Around3550


3360


3260

Stop Loss: Above 3700

Conviction Level:

Moderate Risk.

Reasoning. (Read

Technical commentary).

Short term Trend:

Bullish .

Medium Term Trend:

Bullish.


For AggressiveTraders: SELL

Support: 3350-3250-

3080

Resistance-3420

3650-3820

Duration: 4-5 Days

Recommendation:-

On the basics of Technical


we are Recommending sell

Chana Feb NCDEX on

around 3550 for targets of

3360 3260 with a strict a

stop loss of above 3700

.

CHANA FEB NCDEX

Chana Feb NCDEX: Prices higher in past couple of days from the low of 3319 dated 22 dec

2014.Prices traded choppy in previous session made high 3580 and later closed lower at 3471

levels. Lower production possibilities could support the market sentiments further a recovery isowing in Rajasthan over last few weeks will keep prices down. High Pulses stocks and

bearishness in International markets kept pressure on the domestic market sentiments. A

recovery in sowing in Rajasthan over last few days will add further to the selling pressure. Prof

booking at the higher levels around 3680 amidst reports that Government extend the zero duty

import regime for Chana by three months, the previous extension is to end on December

31st.Prices are however at strong psychological resistance level of 3700 for feb contract. As per

1st Advanced crop estimates for 2014-15 by Govt of India, India is likely to produce Kharif Food

grains of 120.27 million tonnes, which is down by 8.97 million tonnes from the record 129.24

million tonnes achieved in Kharif 2013-14.

Hence, we recommend selling around 3550 could see downward bias towards 3360 followed

by 3260 for the day.

CH N FEB D ILY TECHINIC L CH RT


5/5

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Users have the right to choose the product/s that suits them the most. Sincere efforts have beenmade to present the right investment perspective. The information contained herein is based on

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Entering our site means that you have read, understood and agreed to everything that is written and implied in this

disclaimer note. RESEARCH is published solely for informational purposes and must in no way be construed as investment

advice for a specific individual. The information and views in this website & all the services we provide are believed to be

reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose theproduct/s that suits them the most.

*Investment is subject to market risks.

Sincere efforts have been made to present the right investment perspective. The information

contained herein is based on analysis and on sources that we consider reliable. We, however, donot vouch for the accuracy or the completeness thereof. This material is for personal information

and we are not responsible for any loss incurred due to it & take no responsibility whatsoever for

any financial profits or loss which may arise from the recommendations above.

Daily Ncdex Report 2-1-2015

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