Weekly ncdex 23 feb2015

23/02/2015

TMC APR DAILY TECHNICAL CHART

Date and Time

23/Feb/2015

STOCK: TURMERIC

APR

Call: BUY

CMP: 9080

Initiation Level:

Above 9000

Book Profit (Level 1):

9300


9650

Stop Loss: Below 8800

Conviction Level:

Moderate Risk.

Reasoning. (Read

Technical

commentary).

Short term Trend:

Bullish.

Medium Term Trend:

Bullish.

For the Traders: BUY

For Aggressive

Traders: BUY

Support: 8980-8700-

8500

Resistance-9200-

9280-9500

Duration: 4-5 Days

Recommendation:-

On the basics of technical

and fundamental analysis

we are Recommending to

BUY Tmc Apr around

(9000) with the Stop Loss

of 8800 for the Target of

9300 and 9600.

TURMERIC APR NCDEX

Turmeric Apr NCDEX: Prices skyrocketed in previous couple of days and consolidate in few

weeks from the low of 7918 level dated 13 February 2015 and made high of 9196 level dated 20

February 2015 and finally closed higher at 9080 level in previous week. Short term trend likely to

be very strong, fall in sowing area and delayed arrival of the new crop due to delayed Monsoon

last year keeps overall market sentiments very strong. Reports of damage to standing crop in TN,

AP and Maharashtra also attributed to the prices getting strong support here around 8000 level.

According to reports, new turmeric crops have started arriving in the spot market of Nizamabad

in Telangana at a heavy pace of around 5500-6,500 bags (1 bag = 70 kg). This is due to lack of

sunlight as low temperature and cold wave situation. 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, major

weakness is seen only if prices rupture support of 8500 could see downside bias towards 8280

followed by 8040 that could negate present uptrend in the near term.

Hence, we recommend buy around 9000 could see upside bias towards 9300 followed by 9600

for the week.

Date and Time

23/Feb/2015

STOCK: JEERA Mar

Call: BUY

CMP: 15250

Initiation Level: Above

15600


15950


16400

Stop Loss: Below 15000

Conviction Level:

Moderate Risk.

Reasoning. (Read

Technical commentary).

Short term Trend:

Bullish.

Medium Term Trend:

Bullish.

For the Traders: BUY

For Aggressive Traders:

BUY

Support: 15000-14700-

14500

Resistance-15300-

15580-16100

Duration: 4-5 Days

Recommendation:-

On the basics of Technical


we are Recommending buy

Jeera FEB around 15200

13700 for the target of

15600 – 16200 with a strict

a stop loss of 14700.

JEERA MAR NCDEX

Jeera Mar NCDEX: Bullish wave continue in Jeera Mar contract, prices rebounded firmly from

the support of 13875 levels on dated 12 February 2015, made high of 15655 levels dated 19

February 2015 and finally closed higher at 15250 levels in previous week. besides, the increase

in OI may resume strong upside rallies in the next couple of days, as prices cleared the uptrend

line resistance of 14500 for the see upward move to 15200 followed by 16050 or even lower to

16680 levels in the near term. Jeera as overall Fundamentals remained strong. Latest report

from Spice Board of India indicates pickup in exports during April-Sept 2014 period at 87500

tonnes (up from 70243 in April-Sept 2013)

Higher arrivals of new crop however prevented resuming strong uptrend. Lower sowing area

and good export demand are however likely to keep long term sentiments Bullish. The exports

are likely to slow down, Good domestic and export demand along with forecast of a 23% drop

in productivity could also support prices in the near term. Improved export demand amidst

firmness in Dollar vs Re supported the prices. On the other side, if prices breach the support of

13800 could turn the outlook into negative territory in the near term.

Hence, we recommend buy above 15600 could see upward bias towards 15950 followed by

16400 for the week.

JEERA MAR DAILY TECHNICAL CHART

CCHATECHNICALCHART

Date and Time

23/Feb/2015

STOCK: CHANA APR

NCDEX

Call: SELL

CMP: 3670

Initiation Level:

Around 3750


3650


3520

Stop Loss: Above 3820

Conviction Level:

Moderate Risk.

Reasoning. (Read

Technical commentary).

Short term Trend:

Bearish.

Medium Term Trend:

Bullish.

For the Traders: SELL

For Aggressive

Traders: SELL

Support: 3650-3580-

3500

Resistance-3740–

3790-3840

Duration: 4-5 Days

Recommendation:-

On the basics of Technical


we are Recommending sell

on rise Chana Apr NCDEX

around 3750 for targets of

3620 – 3530 with a strict a

stop loss of above 3840.

CHANA APR NCDEX

Chana Apr NCDEX: Chana Apr prices melt like ice in previous couple of days from the high

of 3734 dated 19 February 2015, made low of 3650 level dated 20 February 2015 and finally

closed at 3670 levels in previous week, as pickup domestic market demand kept trend up.

Lower production possibilities could support the market sentiments Bullish but as harvesting of

the new crop picks up in coming days; this could prevent prices from shooting up a lot as

arrivals rise. Demand will pick up as skies clear. High Pulses stocks and bearishness in

International markets kept pressure on the domestic market sentiments. But a fall in Rabi

sowing area for Rabi Pulses and lower International production prospects could support prices

in medium to long term. Prices are however at strong Support level of 3600 for April 2015

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 sell on rise around 3750 could see downward bias towards 3650

followed by 3520 for the week.

CHANA APR DAILY TECHINICAL CHART

CHANA (Apr) CASOTOR SEED (Mar)

DHANIYA (Apr) JEERA (Mar)

TURMERIC (Apr) SYBEAN (Apr)

RM SEED (Apr) SYOIL (Apr)

•BULLISH

•SELL ON RISE

Trend

Strategy

•3790

•3700Resistance

•3620

•3530Support

•BEARISH

•BUY ON DEEPS

Trend

Strategy

•4050

•3930Resistance

•3740

•3630Support

•BEARISH

•SELL ON RISE

Trend

Strategy

•7130

•6900Resistance

•6480

•6150Support

•BULLISH

•BUY ON DEEPS

Trend

Strategy

•16200

•15600Resistance

•14800

•14500Support

•BULLISH

•BUY ON DEEPS

Trend

Strategy

•9380

•9250Resistance

•9000

•8770Support

•CONSOLIDATE

•BUY ON DEEPS

Trend

Strategy

•3560

•3450Resistance

•3360

•3300Support

•CONSOLIDATE

•BUY ON DEEPS

Trend

Strategy

•3470

•3400Resistance

•3350

•3290Support

•BULLISH

•BUY ON DEEPS

Trend

Strategy

•615

•608Resistance

•588

•579Support

TECHNICAL LEVELS

TECHNICAL LEVELS

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reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the

product/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, do

not 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.

Weekly ncdex 23 feb2015

Economy & Finance

Transcript of Weekly ncdex 23 feb2015