FREE AGRI COMMODITY MARKET TIPS & REPORT - 01 FEB 2017

Turmeric April futures traded on a surged up Tuesday (5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric spiced by 2.14% to 6768 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: BULLISH
RESISTANCE 2: 6900,
RESISTANCE 1: 6850,
SUPPORT 1: 6650,
SUPPORT 2: 6550.
STRATEGY: BUY ON DIPS

The NCDEX Soyabean Feb futures surged up by 0.07% in the last trading to close at 3033 level till Tuesday 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: BULLISH
RESISTANCE 2:3100,
RESISTANCE 1:3080,
SUPPORT 1: 3000,
SUPPORT 2: 2980.
STRATEGY: BUY ON DIPS

Guarseed futures traded on a Positive note increased demand on Tuesday (5.00PM). Gaurseed Feb contract gained 0.49% to 3262 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: 3340,
RESISTANCE 1:3280,
SUPPORT 1: 3220,
SUPPORT 2: 3180.
STRATEGY: SELL ON RISE

The NCDEX Dhaniya April futures slipped by -0.25% in the last trading to close at 7480 level on Tuesday. 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: 7700,
RESISTANCE 1: 7600,
SUPPORT 1: 7400,
SUPPORT 2: 7300.
STRATEGY: SELL ON RISE

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