AGRI COMMODITY MARKET TIPS & REPORT - 08 JULY 2016

Turmeric Aug futures traded on a surged up on Thursday (5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric spiced by 1.01% to 8026 level at NCDEX. Primary trend appears on the upside because of depleting arrivals in most trading centres such as Nizamabad, Erode, and Sangli. Improved demand from domestic and overseas buyers will be another bullish driver for the current week. Nevertheless, the gains shall remain capped by expectations of improving monsoon activity in growing regions of AP and Telangana.
TURMERIC (AUGUST) TECHNICAL VIEW: 
TREND: MIXED TO BULLISH 
RESISTANCE 2: 8100, 
RESISTANCE 1: 8060, 
SUPPORT 1: 7960, 
SUPPORT 2: 7890. 
STRATEGY: BUY ON DIPS

The NCDEX Soya bean October futures slipped by -1.94% in the last trading to close at 3799 level till Thursday closing. India’s soybean output is estimated to be the lowest in 11 years in crop year 2015-16 (JulyJune), after two years of drought, resulting in crop damage and a fall in yield. Data compiled by the Soybean Processors’ Association of India (SOPA) showed that output at 7.5 million tons (mt) this time, against 10.4 mt the previous year, a decline of 27%..
SOYABEAN (OCTOBER) TECHNICAL VIEW: 
TREND: MIXED TO BEARISH 
RESISTANCE 2:3880, 
RESISTANCE 1:3840, 
SUPPORT 1: 3770, 
SUPPORT 2: 3750. 
STRATEGY: SELL ON RISE

Guarseed futures traded on a Positive note increased demand on Thursday (5.00PM). Gaurseed October contract gained 0.98% to 3515 levels. Improving rain prospects in the major producing state of Rajasthan shall be preventing any sharp gain in guar complex this week Traders are expecting the exports for Guar gum to pick up again as there are regular inquiries from Europe and Russia – this is another supportive factor for the guar complex. 
GAURSEED (OCTOBER) TECHNICAL VIEW: 
TREND: MIXED TO BULLISH 
RESISTANCE 2: 3675, 
RESISTANCE 1:3600, 
SUPPORT 1: 3460, 
SUPPORT 2: 3400. 
STRATEGY: BUY ON DIPS

The NCDEX Dhaniya Aug futures surged up by 2.10% in the last trading to close at 7376 level on Thursday. Coriander futures edged higher on NCDEX as speculators enlarged their holdings on the back of improved demand at the spot market. Further, restricted arrivals from major growing regions also added support to coriander prices’ uptrend. 
DHANIYA (AUGUST) TECHNICAL VIEW: 
TREND: MIXED TO BULLISH 
RESISTANCE 2: 7550, 
RESISTANCE 1: 7450, 
SUPPORT 1: 7250, 
SUPPORT 2: 7150. 
STRATEGY: BUY ON DIPS 

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