Showing posts with label Jeera Tips. Show all posts
Showing posts with label Jeera Tips. Show all posts

Thursday, 3 November 2016

Jeera may trade with an upside bias; Cardamom likely to consolidate 1320-1380 range


Turmeric futures (Dec) is likely to take support near 7100 levels & gain further towards 7300 levels. Spot turmeric prices edged up at Erode markets as buyers were keen on fulfilling their local orders though they did not get any upcountry orders. On Thursday, 2,000 bags arrived for sale and the buyers were keen in buying medium variety turmeric. 65 per cent of the arrived turmeric was sold. The finger variety gained Rs.100-300 a quintal; the root variety increased by Rs.200-225. At the Erode Turmeric Merchants Association, the finger turmeric was sold at Rs.6,716-8,577 a quintal and the root variety at Rs.6,366-8,022.

Cardamom futures (Dec) is expected to consolidate in the range of 1320-1380 levels. Upsurge continued in the small cardamom markets on good demand resultant from the apprehensions about a possible shortage of the aromatic spice this season following a forecast of sharp decline in output. The second round of picking is currently under way and it might end by mid November. Third round will commence by this month end and may last till end of December and with this the main harvesting exercise is likely to end given the past and prevailing weather conditions.

Jeera futures (Dec) may trade in the range of 17520-17920 levels with an upside bias. India could export around 1 lakh tonne cumin seed season 2016-17 as geo-political tension in Turkey and Syria may restrict supply, thereby making India the single most preferred source of cumin seed supply in the world market.


Refined soy oil futures (Nov) is expected to trade in the range of 670-680 levels, while CPO futures (Nov) might trade in the range of 517-525 levels. Palm oil spot markets are witnessing dull activity after festive season, while weak sentiment in global market is also keeping buyers to wait and watch.

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Friday, 28 October 2016

Jeera prices are trading weak on poor

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Jeera prices are trading weak on poor demand at spot market. There are reports of dwindling stock with the stockiest which may support prices in days to come however good sowing prospects in Gujarat and Rajasthan may pressure the prices as the sowing season commenced next month. 

Jeera trading range for the day is 16595-17225.
Jeera prices gained on the back of tight supply from the producing regions.
Good sowing prospects for jeera in Gujarat and Rajasthan are pressurizing the prices as the sowing season is about to commenced.
NCDEX accredited warehouses jeera stocks dropped by 212 tonnes to 1952 tonnes.
In Unjha, a key spot market in Gujarat, jeera edged down by -33.35 rupees to end at 17466.65 rupee per 100 kg.


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Wednesday, 13 July 2016

Jeera likely to trade higher; Turmeric may remain stable

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Jeera futures (Aug) is expected to trade higher taking support near 18650 levels. Cumin traded strong in Jodhpur agriculture market after buying at upper level. Supply has also shrink at upper level. Farmer and local traders are gradually selling their stock on expectation of better price.

Turmeric futures (Aug) is expected to remain stable & trade with an upside bias taking support near 7950 levels. Demand in turmeric improved in the last few days and prices are likely to improve as stocks are likely to shrink in the coming months due to lower production amid back-to-back years of drought. Spot turmeric prices increased at Erode markets on Wednesday due to fresh local demand. Turmeric growers brought a limited stock of 3,500 bags and 70 per cent of the stocks were sold. At the Erode Turmeric Merchants Association, the finger turmeric was sold at Rs.7,289-9,069 a quintal and the root variety Rs.7,088-8,391.

Cardamom futures (Aug) is expected to trade higher taking support near 895 levels. Many small and medium stockiest who needed small volumes covering anticipating a delay in the arrival of the next crop. The next crop is also expected to be less and likely to hit the market only by next month end.

Coriander futures (Aug) is likely to witness an upside momentum taking support near 7575 levels. Arrival of coriander in Kota and nearby markets is around 5,500 bags per day. Activity in the market is mostly dull due to rainfall in many parts, however traders in need are buying directly from stockists. Coriander prices could improve in the coming days in case supply remains thin in the market.

Soybean futures (Oct) is likely to trade higher & test 3910 levels. SOPA projected current year 2015-16 soybean crop at 69.29 lakh tonnes with opening stock of 6.12 lakh tonnes and the total availability sum up at 75.41 lakh tonnes. Stock with crushers and traders are likely to around 2.57 lakh tonnes as on June 31, while holding with farmers are expected to be around 11.96. On CBOT, U.S. soybeans rose 1 percent on Thursday extending gains into a third session, as concerns over potential yield reducing weather in key production regions in the United States pushed prices towards a more than one-week high. The most active soybean future on the Chicago Board Of Trade rose 1 percent to $11.16 a bushel, having firmed 1.8 percent on Wednesday when prices hit a high of $11.19-1/2 a bushel - the highest since July 5.

Mustard futures (Aug) is expected to take an attempt to test 5000 levels & trade even higher. Mustard seed prices are largely supported by oil demand amid low arrivals in spot market. Stocks are very low in the market but demand is seen improving, hence, firm trend in prices of mustard seed is expected in days to come.


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Tuesday, 12 July 2016

Turmeric to trade up; Sugar may fall further

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Jeera futures (Aug) is expected to trade higher taking support near 18785 levels. Arrival of commodity is low in market. It has dropped up to 2000-2500 bags per day. Farmers are busy in kharif crop cultivation. Business activities are muted at upper level. The exports have already crossed 50,000 tonnes and similar quantity is likely to ship in the remaining season as overseas buyers. At present India is the country only having sufficient quantity to sell.

Turmeric futures (Aug) is expected to remain stable & trade with an upside bias taking support near 7900 levels. Spot turmeric prices remained stable at Erode markets and 65 per cent of the arrivals were sold.  Further only one or two upcountry orders have been received by some traders. At the Erode Turmeric Merchants Association, the finger turmeric was sold at Rs.7,129-9,099 a quintal; the root variety Rs.7,044-8,110.

Sugar futures (Oct) is expected to fall further towards 3765 levels. Sugar prices ruled unchanged on routine activities on Tuesday. Supply from producers and local demand remained routine. On the international market, ICE raw sugar futures tumble 0.65 cent, or 3.2 percent, at 19.63 cents per lb.

Cardamom futures (Aug) is expected to trade higher taking support near 895 levels. Many small and medium stockiest who needed small volumes covering anticipating a delay in the arrival of the next crop. The next crop is also expected to be less and likely to hit the market only by next month end.
Coriander futures (Aug) is likely to witness an upside momentum taking support near 7600 levels. The market participants at the spot markets are anticipating that prices are likely to improve in the coming days as some exports inquiries has been witnessed in recent times.

Refined soy oil futures (Aug) is expected to consolidate with a downside bias in the range of 625-630 levels. CPO futures (July) will possibly slip further towards 480 levels respectively tracking bearish fundamentals of their counterparts on the international markets. Malaysian palm oil futures plunged to a near 10-month low at 2,188 ringgit ($552.53) a tonne on Tuesday after data showed exports plummeted more than expected and on an appreciating ringgit.


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AGRI COMMODITY MARKET TIPS & REPORT - 12 JULY 2016

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Turmeric Aug futures traded on a slipped on Monday (5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric spiced by -0.08% to 7980 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: 8100, 
RESISTANCE 1: 8050, 
SUPPORT 1: 7950, 
SUPPORT 2: 7880. 
STRATEGY: SELL ON RISE

The NCDEX Soya bean October futures surged up by 0.67% in the last trading to close at 3767 level till Monday closing. Expectations of rains to intensify this month will be seen as a beneficial factor in cooling down food prices including oilseeds. Therefore the near term outlook shall remain bearish for soybean. Negative cues from US markets and reports of good rains in MP region are likely to kept sentiments bearish in futures markets in the current week. 
SOYABEAN (OCTOBER) TECHNICAL VIEW: 
TREND: MIXED TO BEARISH 
RESISTANCE 2:3820, 
RESISTANCE 1:3790, 
SUPPORT 1: 3745, 
SUPPORT 2: 3720. 
STRATEGY: SELL ON RISE

Guarseed futures traded on a Positive note increased demand on Monday (5.00PM). Gaurseed October contract gained 2.74% to 3603 levels. Rising export, falling stocks and reports of lower sowing area kept sentiments strong for Guar as prices found very strong support at these low levels for last few weeks. Low price realizations last year kept farmers away from sowing of this crop leading to apprehensions of falling sowing area. Short to medium term sentiments look firm as any pickup in Crude oil prices could lead to further firmness in guar prices.
GAURSEED (OCTOBER) TECHNICAL VIEW: 
TREND: MIXED TO BULLISH 
RESISTANCE 2: 3690, 
RESISTANCE 1:3650, 
SUPPORT 1: 3550, 
SUPPORT 2: 3495. 
STRATEGY: BUY ON DIPS

The NCDEX Dhaniya Aug futures slipped by 3.74% in the last trading to close at 7625 level on Monday. 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: 7820, 
RESISTANCE 1: 7720, 
SUPPORT 1: 7430, 
SUPPORT 2: 7250. 
STRATEGY: BUY ON DIPS 

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Sunday, 10 July 2016

AGRI COMMODITY MARKET TIPS & REPORT - 11 JULY 2016

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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

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Thursday, 7 July 2016

AGRI COMMODITY MARKET TIPS & REPORT - 08 JULY 2016

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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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AGRI COMMODITY MARKET TIPS & REPORT - 07 JULY 2016

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Turmeric Aug futures traded on a slipped on Tuesday (5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric spiced by -0.55% to 7950 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: 8000, 
SUPPORT 1: 7870, 
SUPPORT 2: 7800. 
STRATEGY: SELL ON RISE

The NCDEX Soya bean October futures slipped by -0.36% in the last trading to close at 3869 level till Tuesday 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 BULLISH 
RESISTANCE 2:3950, 
RESISTANCE 1:3910, 
SUPPORT 1: 3850, 
SUPPORT 2: 3830. 
STRATEGY: BUY ON DIPS

Guarseed futures traded on a Positive note increased demand on Tuesday (5.00PM). Gaurseed October contract gained 4.00% to 3481 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: 3560, 
RESISTANCE 1:3520, 
SUPPORT 1: 3400, 
SUPPORT 2: 3320. 
STRATEGY: BUY ON DIPS

The NCDEX Dhaniya Aug futures slipped by -0.33% in the last trading to close at 7202 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 (AUGUST) TECHNICAL VIEW: 
TREND: MIXED TO BEARISH 
RESISTANCE 2: 7300, 
RESISTANCE 1: 7250, 
SUPPORT 1: 7170, 
SUPPORT 2: 7150. 
STRATEGY: SELL ON RISE 

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Monday, 4 July 2016

AGRI COMMODITY MARKET TIPS & REPORT - 05 JULY 2016

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Turmeric Aug futures traded on a slipped on Monday (5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric spiced by -3.13% to 7920 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: 8300, 
RESISTANCE 1: 8100, 
SUPPORT 1: 7820, 
SUPPORT 2: 7730. 
STRATEGY: SELL ON RISE

The NCDEX Soya bean October futures surged up by 0.88% in the last trading to close at 3878 level till Monday closing. Approaching monsoon season shall be weighing over soybean prices this week as well. The recent Brexit issue might keep sentiments disturbed in global markets as of now, and can weigh on global oil complex markets, therefore maintaining weak tone in Indian markets also. Subdued demand for soymeal shall also weigh over the soybean complex in present term.
SOYABEAN (OCTOBER) TECHNICAL VIEW: 
TREND: MIXED TO BULLISH 
RESISTANCE 2:3950, 
RESISTANCE 1:3910, 
SUPPORT 1: 3830, 
SUPPORT 2: 3780. 
STRATEGY: BUY ON DIPS

Guarseed futures traded on a Positive note increased demand on Monday (5.00PM). Gaurseed October contract gained 0.42% to 3350 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: 3390, 
RESISTANCE 1:3370, 
SUPPORT 1: 3320, 
SUPPORT 2: 3300. 
STRATEGY: BUY ON DIPS 

The NCDEX Dhaniya Aug futures slipped by -0.43% in the last trading to close at 7212 level on Monday. Coriander futures traded higher on NCDEX as speculators built up fresh positions, tracking improved demand at the spot market. Besides, limited arrivals from major producing belts also added support to coriander prices’ uptrend.
DHANIYA (AUGUST) TECHNICAL VIEW: 
TREND: MIXED TO BEARISH 
RESISTANCE 2: 7300, 
RESISTANCE 1: 7250, 
SUPPORT 1: 7180, 
SUPPORT 2: 7150. 
STRATEGY: SELL ON RISE

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AGRI COMMODITY MARKET TIPS & REPORT - 04 JULY 2016

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Turmeric Aug futures traded on a slipped on Friday (5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric spiced by -1.18% to 8176 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: 8370, 
RESISTANCE 1: 8320, 
SUPPORT 1: 8240, 
SUPPORT 2: 8210. 
STRATEGY: SELL ON RISE

The NCDEX Soya bean October futures surged up by 0.55% in the last trading to close at 3840 level till Friday closing. Approaching monsoon season shall be weighing over soybean prices this week as well. The recent Brexit issue might keep sentiments disturbed in global markets as of now, and can weigh on global oil complex markets, therefore maintaining weak tone in Indian markets also. Subdued demand for soymeal shall also weigh over the soybean complex in present term. 
SOYABEAN (OCTOBER) TECHNICAL VIEW: 
TREND: MIXED TO BULLISH 
RESISTANCE 2:3940, 
RESISTANCE 1:3885, 
SUPPORT 1: 3790, 
SUPPORT 2: 3740. 
STRATEGY: BUY ON DIPS

Guarseed futures traded on a Negative note decreased demand on Friday (5.00PM). Gaurseed October contract lost -1.51% to 3330 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: 3440, 
RESISTANCE 1:3380, 
SUPPORT 1: 3300, 
SUPPORT 2: 3270. 
STRATEGY: BUY ON DIPS

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Friday, 1 July 2016

AGRI COMMODITY MARKET TIPS & REPORT - 01 JULY 2016

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Turmeric Aug futures traded on a slipped on Thursday (5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric spiced by -0.58% to 8278 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: 8370, 
RESISTANCE 1: 8320, 
SUPPORT 1: 8240, 
SUPPORT 2: 8210. 
STRATEGY: SELL ON RISE

The NCDEX Soya bean October futures surged up by 1.54% in the last trading to close at 3813 level till Thursday closing. Approaching monsoon season shall be weighing over soybean prices this week as well. The recent Brexit issue might keep sentiments disturbed in global markets as of now, and can weigh on global oil complex markets, therefore maintaining weak tone in Indian markets also. Subdued demand for soymeal shall also weigh over the soybean complex in present term. 
SOYABEAN (OCTOBER) TECHNICAL VIEW: 
TREND: MIXED TO BULLISH 
RESISTANCE 2:3900, 
RESISTANCE 1:3850, 
SUPPORT 1: 3760, 
SUPPORT 2: 3700. 
STRATEGY: BUY ON DIPS

Guarseed futures traded on a Positive note increased demand on Thursday (5.00PM). Gaurseed October contract gained 2.30% to 3377 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: 3460, 
RESISTANCE 1:3420, 
SUPPORT 1: 3320, 
SUPPORT 2: 3260. 
STRATEGY: BUY ON DIPS

The NCDEX Dhaniya Aug futures slipped by -0.46% in the last trading to close at 7283 level on Thursday. Coriander futures traded higher on NCDEX as speculators built up fresh positions, tracking improved demand at the spot market. Besides, limited arrivals from major producing belts also added support to coriander prices’ uptrend. 
DHANIYA (AUGUST) TECHNICAL VIEW: 
TREND: MIXED TO BULLISH 
RESISTANCE 2: 7440, 
RESISTANCE 1: 7400, 
SUPPORT 1: 7250, 
SUPPORT 2: 7200. 
STRATEGY: BUY ON DIPS 

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Wednesday, 29 June 2016

AGRI COMMODITY MARKET NEWS & UPDATES - 30 JUN 2016

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Turmeric Aug futures traded on a slipped on Wednesday (5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric spiced by -0.31% to 8346 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: 8550, 
RESISTANCE 1: 8450, 
SUPPORT 1: 8270, 
SUPPORT 2: 8200. 
STRATEGY: BUY ON DIPS

The NCDEX Soya bean October futures slipped by -0.61% in the last trading to close at 3755 level till Wednesday closing. Approaching monsoon season shall be weighing over soybean prices this week as well. The recent Brexit issue might keep sentiments disturbed in global markets as of now, and can weigh on global oil complex markets, therefore maintaining weak tone in Indian markets also. Subdued demand for soymeal shall also weigh over the soybean complex in present term.
SOYABEAN (OCTOBER) TECHNICAL VIEW: 
TREND: MIXED TO BEARISH 
RESISTANCE 2:3790, 
RESISTANCE 1:3770, 
SUPPORT 1: 3740, 
SUPPORT 2: 3720. 
STRATEGY: SELL ON RISE

Guarseed futures traded on a Negative note decreased demand on Wednesday (5.00PM). Gaurseed October contract lost -0.60% to 3755 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: 3420, 
RESISTANCE 1:3360, 
SUPPORT 1: 3230, 
SUPPORT 2: 3150. 
STRATEGY: BUY ON DIPS

The NCDEX Dhaniya Aug futures slipped by -0.83% in the last trading to close at 7300 level on Wednesday. Coriander futures traded higher on NCDEX as speculators built up fresh positions, tracking improved demand at the spot market. Besides, limited arrivals from major producing belts also added support to coriander prices’ uptrend.
DHANIYA (AUGUST) TECHNICAL VIEW: 
TREND: MIXED TO BULLISH 
RESISTANCE 2: 7380, 
RESISTANCE 1: 7340, 
SUPPORT 1: 7280, 
SUPPORT 2: 7260. 
STRATEGY: BUY ON DIPS
                            
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Tuesday, 28 June 2016

AGRI COMMODITY MARKET TIPS & REPORT - 29 JUN 2016

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Turmeric Aug futures traded on a surged up on Tuesday (5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric spiced by 0.43% to 8364 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: 8510, 
RESISTANCE 1: 8440, 
SUPPORT 1: 8290, 
SUPPORT 2: 8220. 
STRATEGY: BUY ON DIPS

The NCDEX Soya bean October futures surged up by 0.29% in the last trading to close at 3774 level till Tuesday closing. Approaching monsoon season shall be weighing over soybean prices this week as well. The recent Brexit issue might keep sentiments disturbed in global markets as of now, and can weigh on global oil complex markets, therefore maintaining weak tone in Indian markets also. Subdued demand for soymeal shall also weigh over the soybean complex in present term.
SOYABEAN (OCTOBER) TECHNICAL VIEW: 
TREND: MIXED TO BULLISH 
RESISTANCE 2:3810, 
RESISTANCE 1:3790, 
SUPPORT 1: 3760, 
SUPPORT 2: 3740. 
STRATEGY: BUY ON DIPS

Guarseed futures traded on a Positive note increased demand on Tuesday (5.00PM). Gaurseed October contract gained 2.64% to 3303 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: 3410, 
RESISTANCE 1:3355, 
SUPPORT 1: 3225, 
SUPPORT 2: 3150. 
STRATEGY: BUY ON DIPS

The NCDEX Dhaniya Aug futures slipped by -0.74% in the last trading to close at 7340 level on Tuesday. Coriander futures traded higher on NCDEX as speculators built up fresh positions, tracking improved demand at the spot market. Besides, limited arrivals from major producing belts also added support to coriander prices’ uptrend. 
DHANIYA (AUGUST) TECHNICAL VIEW: 
TREND: MIXED TO BULLISH 
RESISTANCE 2: 7420, 
RESISTANCE 1: 7380, 
SUPPORT 1: 7320, 
SUPPORT 2: 7300. 
STRATEGY: BUY ON DIPS 
                          
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