AGRI COMMODITY MARKET REPORT & LEVELS FOR 21 JAN 2015

NCDEX Turmeric April futures traded on a negative note on Tuesday . Turmeric spice easied by -1.93% to 8940 level on Tuesday at NCDEX .Turmeric traded slightly lower as traders waited for the prices to cool before initiating fresh demand in mandis. Low stocks and lower production reports are however likely to support prices in the medium to long term. Demand from North India is also expected to rise in coming weeks .

CS TURMERIC (APRIL) LEVELS

TREND   MIXED TO BEARISH         STRATEGY: SELL ON RISE
RESIST 2:9300 / RESIST 1:9130         SUP1:8840 / SUP2:8720 

NCDEX Soyabean February futures eased by -0.14% in the last trading to close at 3455 level till Tuesday closing . Moderate firmness was noted for Soybean last week even as no strong recovery was noted in the International markets. Firm demand in domestic market kept trend slight firm as traders anticipate demand to rise even further in coming weeks.Higher projections for global production could however keep a tap on the rising rates.

CS SOYABEAN (FEBRUARY) LEVELS
TREND  MIXED TO BULLISH         STRATEGY: BUY ON DIPS
RESIST 2:3505 / RESIST 1:3480        SUP1:3440 / SUP2:3420

Chana futures traded on a positive note on incresed demand on Tuesday. Chana January contract gained 0.09% to 3413 levels on Tuesday .Prices recovered from the lower levels on improved demand. The recent rains in some parts of Rajasthan had pressurized prices as that was considered beneficial for the standing crop. Any further rains in coming days there could again pressurize prices to some extent. However, lower sowing reports and expectations of a pick up in demand at the lower levels are likely to support the prices in coming week.

CS CHANA  (FEBRUARY) LEVELS                       
TREND  MIXED TO  BEARISH           STRATEGY: SELL ON RISE
RESIST 2:3520 / RESIST 1:3470             SUP1:3385 / SUP2:3350

NCDEX Dhaniya April futures surged up by 0.29% in the last trading to close at 7485 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   MIXED TO BEARISH           STRATEGY: SELL ON RISE
RESIST 2:7735 / RESIST 1: 7630         SUP1:7365 / SUP2:7200