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Text of Daily agri report by epic research 06 aug 2014
DAILY AGRI REPORT 06-Aug-2014
NCDEX DAILY Newsletter 4 AGRI COMMODITY DAILY WRAP UP..!!!! CHANA FUTURE Chana found some support at lower level after recent massive correction in the prices. there was some pick up in the demand as these low rate in the mandis. However rains in the central and north west india kept market sentiment for weak commodity. Monsoon progress for next few days remains critical. Sowing of Kharif Pulses are likely to get adversely affected if delayed and below normal Monsoon is maintained. SOYABEAN FUTURE Soybean Oct futures traded on a positive note on lower sowing, below normal rains till date as well as tight supply of soybean seeds. However, negative CBOT prices coupled with expectations of revival of the monsoon and weak soy meal exports pressurized prices at higher levels. CORIANDER FUTURE Coriander futures slipped as most spices markets in Rajasthan are shut as tradersprotest 5 percent value added tax on spices. However, reports of crop damage in Romania and negligible stock in India may limit the major downtrend. Sowing of kharif crops have already been delayed due to scanty rains in the top producing states of Gujarat and Rajasthan. JEERA FUTURE Jeera futures may be range-bound with a negative bias due to thin buying in the spot market asRamzan shipments are over. However, medium-term outlook is still bullish as delayed kharif-sowing due tolow rainfall will also affect the rabi crop. Sowing of kharif crops have already been delayed in Gujarat and Rajasthan, thereby sowing in rabi season is likely to get delayed. As well, lower output in Syria and Turkey may limit sharp fall in prices. 2 | P a g e WWW.EPICRESEARCH.CO CALL: +917316642300
NCDEX DAILY Newsletter 4 NCDEX DAILY TECHNICAL LEVELS DHANIYA HOURLY CANDLESTICK CHART Dhaniya Aug chart trend is bullish, Momentum Indicator RSI is above mid range, expecting price may go up Immediate support @ 11770 & Immediate resistance @ 11870. R1-12029 R2-11927 PP-11849 S1-11747 S2-11669 TRADING STRATEGY: BUY DHANIYA AUG ABOVE 11870 TGTS 11900,11950 SL 11820 SELL DHANIYA AUG BELOW 11770 TGTS 11740,11690 SL 11820 3 | P a g e WWW.EPICRESEARCH.CO CALL: +917316642300
NCDEX DAILY Newsletter 4 NCDEX DAILY TECHNICAL LEVELS GUARSEED HOURLY CANDLESTICK CHART In Guarseed chart, Price is in support level, expecting from here onwards guarseed price may go Down Momentum indicators RSI is above mid range. In intraday basis immediate support @ 5030 & immediate resistance @ 5095. R1-5193 R2-5137 PP-5023 S1-4967 S2-4853 TRADING STRATEGY: BUY GUARSEED AUG ABOVE 5095 TGTS 5125,5175 SL 5045 SELL GUARSEED AUG BELOW 5030 TGTS 5000,4950 SL 5080 4 | P a g e WWW.EPICRESEARCH.CO CALL: +917316642300
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