NCDEX Turmeric April futures traded on a negative note on Tuesday . Turmeric spice easied by -1.03% to 8080 level on Tuesday(5.00pm) at NCDEX.Lack of strong demand amidst higher arrivals in the mandis kept trend weak for Turmeric.However with demand likely to rise in coming weeks at these lower levels, it could support the falling rates to some extent.
CS TURMERIC (APRIL) LEVELS
TREND MIXED TO BEARISH
RESIST 2:8500 || RESIST 1:8290
SUP1:7790 || SUP2:7500
STRATEGY: SELL ON RISE
RESIST 2:8500 || RESIST 1:8290
SUP1:7790 || SUP2:7500
STRATEGY: SELL ON RISE
The NCDEX Soyabean February futures surged by by 0.72% in the last trading to close at 3358 level till Tuesday closing.Rains in North-West and Central Indian and bearishness in International markets kept trend down for Soybean even as good demand in domestic markets persisted. Higher projections forglobal production could however keep a tap on the rising rates.
CS SOYABEAN (FEBRUARY) LEVELS
TREND MIXED TO BEARISH
RESIST 2:3440 || RESIST 1:3400
SUP1:3300 || SUP2:3255
STRATEGY: SELL ON RISE
TREND MIXED TO BEARISH
RESIST 2:3440 || RESIST 1:3400
SUP1:3300 || SUP2:3255
STRATEGY: SELL ON RISE
Chana futures traded on a positive note on incresed demand on Monday.Chana January contract gaine 0.55% to 3304 levels on Tuesday(5.00PM).No recovery could be noted for Chana as rains in the growing states continued to pressurize market sentiments. Rains ingrowing areas in Rajasthan, MP and UP are reportedly beneficial for the standing crop.
CS CHANA (FEBRUARY) LEVELS
TREND MIXED TO BEARISH
RESIST 2:3385 || RESIST 1:3345
SUP1:3260 || SUP2:3215
STRATEGY: SELL ON RISE
TREND MIXED TO BEARISH
RESIST 2:3385 || RESIST 1:3345
SUP1:3260 || SUP2:3215
STRATEGY: SELL ON RISE
The NCDEX Dhaniya April futures eased by 4.00% in the last trading to close at 7738 level on Tuesday.Sentiment weakened further as speculators reduced their positions on the back of sluggish demand in the market.Dhaniya is common in South Asian Middle Eastern Central Asian Mediterranean Indian Tex-Mex Latin American Portuguese Chinese African and Scandinavian.
CS DHANIYA (APRIL) LEVELS
TREND BEARISHRESIST 2:8090 || RESIST 1: 7910
SUP1:7650 || SUP2:7560
STRATEGY: SELL ON RISE
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