DAILY AGRI MARKET REPORT & LEVELS - 30 JAN 2015

NCDEX TURMERIC April futures traded on a positive note on Thursday . Turmerics pice easied by 1.94% to 8300 level on Thursday(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) OVERVIEW:
TREND    MIXED TO BULLISH
RESIST 2:8430 || RESIST 1:8370            
SUP1:8190|| SUP2:8070
STRATEGY: BUY ON DIPS

NCDEX SOYABEAN February futures consolidate by 0.00% in the last trading to close at 3337 level till Thursday closing. Pick up in demand amidst expected clear skies could support the market sentiments for Soybean this week after the recent fall in rates. However bearishness in International markets prevented strong uptrend even as good demand in domestic markets persisted. Higher projections for global production could howeverkeep a tap on the rising rates.

CS SOYABEAN (FEBRUARY) OVERVIEW:
TREND  MIXED TO BEARISH
RESIST 2:3405 || RESIST 1:3370
SUP1:3310 || SUP2:3285
STRATEGY: SELL ON RISE

NCDEX CHANA futures traded on apositive note on incresed demand on Thursday. Chana January contract gained 2.10%to 3410 levels on Thursday(5.00PM). recovery could be noted for Chana as rains in the growing states continued to pressurize market sentiments. Rains in growing areas in Rajasthan, MP and UP are reportedly beneficial for the standing crop.

CS CHANA  (FEBRUARY) OVERVIEW:                        
TREND  MIXED TO BULLISH
RESIST 2:3470 || RESIST 1:3440
SUP1:3365 || SUP2:3320
STRATEGY: BUY ON DIPS

The NCDEX DHANIYA April futures surged by 0.97% in the last trading to close at 7810 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) OVERVIEW:
TREND   MIXED TO BEARISH
RESIST 2:7960 || RESIST 1:7885             
SUP1:7700 || SUP2:7600
STRATEGY: SELL ON RISE