AGRI COMMODITY MARKET TIPS & REPORT - 11 JULY 2016

Turmeric Aug futures traded on a slipped on Friday (5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric spiced by -0.57% to 7976 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 BEARISH 
RESISTANCE 2: 8070, 
RESISTANCE 1: 8020, 
SUPPORT 1: 7920, 
SUPPORT 2: 7870. 
STRATEGY: SELL ON RISE

The NCDEX Soya bean October futures slipped by -1.53% in the last trading to close at 3744 level till Friday 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 2:3810, 
RESISTANCE 1:3770, 
SUPPORT 1: 3720, 
SUPPORT 2: 3700. 
STRATEGY: SELL ON RISE

Guarseed futures traded on a Negative note decreased demand on Friday (5.00PM). Gaurseed October contract lost -0.15% to 3512 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: 3580, 
RESISTANCE 1:3540, 
SUPPORT 1: 3470, 
SUPPORT 2: 3430. 
STRATEGY: BUY ON DIPS

The NCDEX Dhaniya Aug futures slipped by -0.49% in the last trading to close at 7345 level on Friday. 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: 7450, 
RESISTANCE 1: 7400, 
SUPPORT 1: 7300, 
SUPPORT 2: 7250. 
STRATEGY: BUY ON DIPS

Get real time advice from Our Best Advisory -  Capitalstars