Thursday 22 January 2015

AGRI COMMODITY MARKET REPORT & LEVELS FOR -23 JAN 2015

Chana NCDEX, Soyabean Tips, Dhaniya Tips, Turmeric Tips, Chana Tips, NCDEX Dhaniya, NCDEX soyabean, Chana Tips , Agri Commodity Tips
NCDEX Turmeric April futures traded on a negative note on Thursday .Turmeric spice easied by -1.40% to 8476 level on Thursday (5.00pm) 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    BEARISH                                   
STRATEGY: SELL ON RISE 
RESIST 2:8820 || RESIST 1:8660                 SUP1:8380 || SUP2:8260
NCDEX Soyabean February futures eased by -0.85% in the last trading to close at 3364 level till Thursday 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 BEARISH                       STRATEGY: SELL ON RISE
RESIST 2:3445 || RESIST 1:3400                  SUP1:3330 || SUP2:3300

Chana futures traded on a negative note on incresed demand on Thursday.Chana January contract gained -2.40% to 3290 levels on Thursday(5.00PM). 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 weeks.
CS CHANA  (FEBRUARY) LEVELS                        
TREND  BEARISH                                       STRATEGY: SELL ON RISE 
RESIST 2:3405||RESIST 1:3350                   SUP1:3260||SUP2:3225
NCDEX Dhaniya April futures surged up by 4% in the last trading to close at 7714 level on Thursday.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 BULLISH                        STRATEGY: BUY ON DIPS 
RESIST 2:7900 || RESIST 1:7800                    SUP1:7525 || SUP2:7335


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