Wednesday 3 May 2017

FREE AGRI COMMODITY MARKET TIPS & LEVELS - 04 MAY 2017

Agri commodity calls, Agri Commodity Tips, Free  Commodity Tips, Free Agri Tips, MCX Tips Services, Turmeric Tips,

Turmeric May futures traded on a slipped Wednesday (5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric spiced by -4.00% to 5584 level at NCDEX. Trend remained weak for Turmeric even as prices found very strong support at the psychological 6000 mark. Lack of demand on the domestic (from North India) and export front amidst favorable Monsoon report ensured prices did not recover much even as it traded near the psychological support of 6000. Reports of low production and crop damage with farmers reportedly getting adversely affected in AP and Telengana have been noted.
TURMERIC (MAY) TECHNICAL VIEW: 
TREND: BEARISH 
RESISTANCE 2: 5800, 
RESISTANCE 1: 5700, 
SUPPORT 1: 5400, 
SUPPORT 2: 5350. 
STRATEGY: SELL ON RISE

The NCDEX Soyabean May futures slipped by -2.07% in the last trading to close at 2833 level till Wednesday closing. Soybean failed to sustain at higher levels as buying interest stood lower against weakening trend in US soybean. However medium term fundamentals remains strong due to falling stocks, lesser arrivals and stable demand, hence soybean shall tend to recover in coming sessions. The April month’s USDA supply and demand report of oilseed complex was released last week and although the report was bearish, the projections were already factored in by the hedge funds.
SOYABEAN (MAY) TECHNICAL VIEW: 
TREND: BEARISH 
RESISTANCE 2:2900, 
RESISTANCE 1:2880, 
SUPPORT 1: 2820, 
SUPPORT 2: 2800. 
STRATEGY: SELL ON RISE 

Guarseed futures traded on a Negative note decreased demand on Wednesday (5.00PM). Gaurseed May contract lost -2.32% to 3670 levels. Favorable Monsoon reports amidst possibilities of its arrival before time are keeping sentiments weak for Guar. Its impact is likely to be temporary—but if monsoon arrives before time, then some more dips can be possible. Reports of lower production are likely to support prices. As per latest Rajasthan Agricultural dept report, production there is expected to fall to 14.04 lakh tons vs 22.23 lakh tons previous year. The sowing area has fallen to 35 lakh ha due to low rates seen over last 2-3 years. 
GAURSEED (MAY) TECHNICAL VIEW: 
TREND: BEARISH 
RESISTANCE 2: 3820, 
RESISTANCE 1:3750, 
SUPPORT 1: 3650, 
SUPPORT 2: 3600. 
STRATEGY: SELL ON RISE

The NCDEX Dhaniya May futures Slipped by -4.00% in the last trading to close at 6104 level on Wednesday. after a one-sided increase in the beginning of apl, there is a huge decline in the coriander's market. on the commodity exchange NCDEX the price of coriander has dropped has by around 1,500 RPs in a month. in the beginning of April, coriander price for near future trading on NCDEX 7900 per quintal, but now the price has come down to RS 6450. in march , the price of coriander touched a low of RS 6410. Which was lowest price in about 13 months. there has been pressure of coriander due year ending stock and week export demand. however this year's production is being reported less last year. Price have not able to keep pace with heavy stock.
DHANIYA (MAY) TECHNICAL VIEW: 
TREND: BEARISH 
RESISTANCE 2: 6300, 
RESISTANCE 1: 6200, 
SUPPORT 1: 6000, 
SUPPORT 2: 5800. 
STRATEGY: SELL ON RISE 


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