FREE AGRI COMMODITY MARKET TIPS & LEVELS - 30 JAN 2017

Turmeric April futures traded on a slipped Friday (5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric spiced by -1.42% to 6680 level at NCDEX. Prices found some support at the lower levels for Turmeric as some recovery was noted. Arrivals of new crop kept pressure on prices however as no strong movement noted in the short term. Easing of cash crunch issues may enable demand to slowly start recovering. Long term looks positive however as exports are expected to recover for the new crop once arrivalsS slow down.
TURMERIC (APRIL) TECHNICAL VIEW:
TREND: BEARISH 
RESISTANCE 2: 6920, 
RESISTANCE 1: 6800, 
SUPPORT 1: 6650, 
SUPPORT 2: 6600. 
STRATEGY: SELL ON RISE

The NCDEX Soyabean Feb futures slipped by -0.72% in the last trading to close at 3046 level till Friday closing. NCDEX February soybean has now closed much above a strong resistance area of 3125-3130. Near term sentiments have turned positive amid bullish outlook for India soymeal indicated in last Thursday’s USDA report. Soybean posted sharp gains on Tuesday. Positive global cues from US markets supported the trend. Soymeal export offers are at parity in global market which added to the bullish trend.
SOYABEAN (FEBRUARY) TECHNICAL VIEW: 
TREND: BEARISH 
RESISTANCE 2:3100, 
RESISTANCE 1:3070, 
SUPPORT 1: 3000, 
SUPPORT 2: 2980. 
STRATEGY: SELL ON RISE

Guarseed futures traded on a Negative note decreased demand on Friday (5.00PM). Gaurseed Feb contract lost -1.15 % to 3280 levels. Rates once again short up for Guar with exports picking up as trading activities improved with cash crunch crisis slowly getting over. Cash crunch issues that had kept pressure on prices are expected to ease further in coming days leading to improved trading activities as exports too start rising.
GAURSEED (FEBRUARY) TECHNICAL VIEW: 
TREND: BEARISH 
RESISTANCE 2: 3370, 
RESISTANCE 1:3340, 
SUPPORT 1: 3270, 
SUPPORT 2: 3240. 
STRATEGY: SELL ON RISE

The NCDEX Dhaniya April futures slipped by -0.61% in the last trading to close at 7647 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 (APRIL) TECHNICAL VIEW: 
TREND: BEARISH 
RESISTANCE 2: 7900, 
RESISTANCE 1: 7800, 
SUPPORT 1: 7600, 
SUPPORT 2: 7550. 
STRATEGY: SELL ON RISE

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