Turmeric April
futures traded on a Slipped on Monday (5.00pm) at India's National Commodity
& Derivatives Exchange (NCDEX). Turmeric spice decreased by -4.00% to 9258
level at NCDEX. No strong movement was noted for Turmeric as lack of strong
demand kept uptrend limited. Traders expect the export and domestic demand to
rise. But prospects of rising new crop arrivals in coming weeks may limit the
uptrend also. In Telangana, the turmeric crop is at vegetative to flowering
stage, sources said that due to recent rainfall in Tamil Nadu.
TURMERIC (APRIL)
TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 9890,
RESISTANCE 1: 9570,
SUPPORT 1: 9100,
SUPPORT 2: 8940.
STRATEGY: SELL ON RISE
The NCDEX Soya
bean February futures surged up by 0.96% in the last trading to close at 3764
level till Monday closing. The broader term price outlook is not so bearish
considering lower production prospects for year 2015-16. Poor soybean yields in
India prompted the USDA to lower its 2015/16 crop forecast by 1.5 MT this month
to 9.5 million. Since production of a record 2012/13 harvest at 12.2 MT, Indian
soybean crops have been beset by a succession of unfavorable growing
conditions. Monsoon rains in Aug decreased for the top production regions.
SOYABEAN
(FERUARY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2:3820,
RESISTANCE
1:3810,
SUPPORT 1: 3780,
SUPPORT 2: 3760.
STRATEGY: SELL ON RISE
Chana futures traded
on a Negative note decreased demand on Monday (5.00PM). Chana May l contract
lost -1.42% to 4314 levels. Firm trend persisted for Chana on reports of Govt
purchase and rising domestic demand amidst lower stocks in mandis. The uptrend
got limited on prospects of rains in MP in coming days as that could have
beneficial impact on sowing. Persistent concerns regarding government’s
continuous efforts to keep price rise in check too kept rising rates under
check as prices hovered near the 5000 mark.
CHANA (APRIL) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 4390,
RESISTANCE 1:4350,
SUPPORT 1: 4290,
SUPPORT 2: 4370.
STRATEGY: SELL ON RISE
The NCDEX Dhaniya April
futures Slipped by -4.00% in the last trading to close at 6757 level on Monday.
Special Margin of 10% (in cash) on the Long side will be imposed on all running
contracts and yet to be launched contracts in Coriander (DHANIYA) with effect
from beginning of day Wednesday, June 03, 2015.
DHANIYA (APRIL) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 7140,
RESISTANCE 1: 6950,
SUPPORT 1:
6660,
SUPPORT 2: 6565.
STRATEGY: SELL ON RISE
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