AGRI COMMODITY MARKET TIPS & REPORT - 30 MAY 2016

Turmeric June futures traded on a slipped on Friday (5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric spiced by -1.06% to 8016 level at NCDEX. Turmeric futures traded lower on NCDEX on anticipation of good sowing in next season on forecast of good rains. Trend remained weak for Turmeric as higher arrivals amidst lack of strong export and domestic demand kept pressure on the prices. 
TURMERIC (JUNE) TECHNICAL VIEW: 
TREND: MIXED TO BEARISH 
RESISTANCE 2: 8180, 
RESISTANCE 1: 8090, 
SUPPORT 1: 7930, 
SUPPORT 2: 7850. 
STRATEGY: SELL ON RISE 

The NCDEX Soya bean June futures slipped by -0.33% in the last trading to close at 3937 level till Friday closing. The Soyabean futures edged lower on NCDEX as speculators trimmed their positions due to lower crushing demand by oil mills and forecast of good monsoon. Further, lower exports of soymeal too added pressure on commodity prices. 
SOYABEAN (JUNE) TECHNICAL VIEW: 
TREND: MIXED TO BEARISH 
RESISTANCE 2:3990,
RESISTANCE 1:3965, 
SUPPORT 1: 3900, 
SUPPORT 2: 3860. 
STRATEGY: SELL ON RISE

Chana futures traded on a Positive note increased demand on Friday (5.00PM). Chana June l contract gained 0.25 % to 6101 levels. Chana futures edged marginally lower on NCDEX as participants booked profits at prevailing levels amid easing demand against ample stocks position in the spot market. Further, reports of government to relax VAT and other taxes too weighed on chana prices. 
CHANA (JUNE) TECHNICAL VIEW: 
TREND: MIXED TO BULLISH 
RESISTANCE 2: 6215, 
RESISTANCE 1:6160 
SUPPORT 1: 6050, 
SUPPORT 2: 6000. 
STRATEGY: BUY ON DIPS

The NCDEX Dhaniya June futures Surged up by 0.19% in the last trading to close at 6875 level on Friday. Coriander futures traded higher on NCDEX as speculators built up fresh positions, tracking improved demand at the spot market. Besides, limited arrivals from major producing belts also added support to coriander prices’ uptrend. 
DHANIYA (JUNE) TECHNICAL VIEW: 
TREND: MIXED TO BEARISH 
RESISTANCE 2: 6970, 
RESISTANCE 1: 6920, 
SUPPORT 1: 6820, 
SUPPORT 2: 6760. 
STRATEGY: SELL ON RISE  

                         

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