Download - Weekly agri report by epic research 04 aug 2014

WEEKLY AGRI REPORT

04-AUG-2014

NCDEX WEEKLY Newsletter 4)

AGRI COMMODITY WEEKLY WRAP UP…..!!!!

CHANA FUTURE

Chana futures traded on a negative note on long liquidation. Revival of monsoon and a sharp increase in the sowing of kharifpulses kept prices under downside pressure and settled 2.33% lower. Prices gained earlier this month on demand from the millerscoupled with festive demand and declining arrival pressure.

SOYABEAN FUTURE

Soybean futures opened higher on short coverings at lower levels coupled with tight supplies of the old crop. However, a pickup inthe sowing of soybeans and revival of monsoon capped the upside and settled 0.14% higher. The spot continued to remain weakand declined 2.46%.

CORIANDER FUTURE

Coriander futures are seen trading higher on reports of limited arrivals in the domestic market. On Wednesday, total arrivals ofcoriander in major spot markets in Rajasthan were around 11000 bag . However, reports of crop damage in Romania andnegligible stock in domestic market may keep coriander prices higher. Projected decline in coriander production in Indiacomparedto last year might too push up coriander prices.

JEERA FUTURE

Jeera futures declined for the third straight session on weak demand as buyers are waiting for lower levels to initiate fresh buying.Record output and huge carryover stocks also added to the downside pressure and settled 0.84% lower. Geo-political tensions inSyria and Turkey have led to a supply crunch in the global markets raising supply concerns from the two major exportingcountries. Export orders are diverted to India. Production is also expected to fall in Syria and Turkey due to crop failure

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NCDEX WEEKLY TECHNICAL LEVELS

DHANIYA 4 HOURLY CANDLESTICK CHART

R2-12064 R1-11988 PP-11860 S1-11784 S2-11656

TRADING STRATEGY: BUY DHANIYA AUG ABOVE 12040 TGTS 12140,12240 SL 11920 SELL DHANIYA AUG BELOW 11675 TGTS 11575,11475 SL 11795


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GUARSEED 4 HOURLY CANDLESTICK CHART

R2-5190 R1-5100 PP-5025 S1-4935 S2-4860

TRADING STRATEGY:

BUY GUARSEED AUG ABOVE 5150 TGTS 5250,5350 SL 5030 SELL GUARSEED AUG BELOW 4995 TGTS 4895,4795 SL 5115


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JEERA 4 HOURLY CANDLESTICK CHART

R2-11387 R1-11313 PP-11247 S1-11173 S2-11107

TRADING STRATEGY:

BUY JEERA AUG ABOVE 11480 TGTS 11630,11830 SL 11260 SELL JEERA AUG BELOW 11130 TGTS 10980,10780 SL 11350


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