AGRI COMMODITY MARKET TIPS & REPORT - 02 JUNE 2016

Turmeric June futures traded on a slipped on Wednesday (5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric spiced by -1.53% to 7842 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: 8010, 
RESISTANCE 1: 7930, 
SUPPORT 1: 7780, 
SUPPORT 2: 7720. 
STRATEGY: SELL ON RISE

The NCDEX Soya bean June futures slipped by -0.13% in the last trading to close at 3830 level till Wednesday closing. The Soyabean futures edged lower on NCDEX as speculators trimmed their positions on lackluster domestic demand and bearish cues from the international markets. However, some losses were capped by lower supply in domestic market as farmers are set to reduce the area given over to soybean by 10% this year.
SOYABEAN (JUNE) TECHNICAL VIEW: 
TREND: MIXED TO BEARISH 
RESISTANCE 2:3880, 
RESISTANCE 1:3850, 
SUPPORT 1: 3810, 
SUPPORT 2: 3795. 
STRATEGY: SELL ON RISE

Chana futures traded on a Negative note decreased demand on Wednesday (5.00PM). Chana June l contract lost -1.84 % to 5924 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 BEARISH 
RESISTANCE 2: 6100, 
RESISTANCE 1:6000, 
SUPPORT 1: 5880, 
SUPPORT 2: 5830. 
STRATEGY: SELL ON RISE

The NCDEX Dhaniya June futures Slipped by -0.53% in the last trading to close at 6800 level on Wednesday. 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: 6890, 
RESISTANCE 1: 6850, 
SUPPORT 1: 6770, 
SUPPORT 2: 6750. 
STRATEGY: SELL ON RISE  

                           

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