Daily agri report 29 may 2014 by epic research

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DAILY AGRI REPORT 29-MAY-2014

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Turmeric futures are seen down due to lack of strong demand for poor quality arrivals, coupled with huge carryover stocks. However, the downside in the yellow spice is likely to be limited on hopes of a rise in export enquiries. Meanwhile, during 2013-14 turmeric export performance have seen decline compared to previous year in terms of volume but higher earnings. As per the latest report from Andhra Pradesh Horticulture Department, production of turmeric in the state for this year is seen declining by 11 percent to 1.02 million tonnes, as against last year.

Transcript of Daily agri report 29 may 2014 by epic research

DAILY AGRI REPORT

29-MAY-2014

NCDEX DAILY Newsletter 4)

AGRI COMMODITY DAILY WRAP UP…..!!!!

CHANA FUTURE

After the massive fall the earlier day,demand started picking up in the mandis at the lower levels and a fall in arrivals at these lower rates too supported the market sentiments, as a moderate recovery was noted for Chana. Reports of Govt thinking about steps to control Food Inflation are still preventing any strong uptrend for this commodity rates. Higher production in Pulses, better Monsoon reports and a weak Dollar too have kept sentiments slight weak.

TURMERIC FUTURE

Turmeric futures are seen down due to lack of strong demand for poor quality arrivals, coupled with huge carryover stocks. However, the downside in the yellow spice is likely to be limited on hopes of a rise in export enquiries. Meanwhile, during 2013-14 turmeric export performance have seen decline compared to previous year in terms of volume but higher earnings. As per the latest report from Andhra Pradesh Horticulture Department, production of turmeric in the state for this year is seen declining by 11 percent to 1.02 million tonnes, as against last year.

JEERA FUTURE

After the recent corrections in rates,arrivals fell in Unjha mandi at these lower levels. Traders expect Exports to pick up in coming weeks but a weak Dollar has been affecting the Export demand adversely. Again, reports of Govt likely to initiate steps to control price rise has kept market sentiments slight weak. With Exports expected toimprove in coming weeks, the Dollar/Re movement would be important for the Export realizations. A falling Dollar may limit the uptrend for the commodity rates despite higher Exports getting noted.

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NCDEX DAILY TECHNICAL LEVELS

DHANIYA HOURLY CANDLESTICK CHART

Dhaniya jun daily chart Consolidating in upper range trend is bullish,trend is bullish RSI is in mid rangeImmediate support @ 9375 & Immediate resistance @ 9480.

R1-9629 R2-9514 PP-9399 S1-9347 S2-9284

TRADING STRATEGY: BUY DHANIYA JUN ABOVE 9475 TGTS 9505,9555 SL 9425 SELL DHANIYA JUN BELOW 9380 TGTS 9350,9300 SL 9430

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GUARSEED HOURLY CANDLESTICK CHART

Guarseed may daily chart,trend is in support level. expecting from here onwards guarseed price may go upMomentum indicators RSI is above mid range. In intraday basis immediate support @ 5185 & immediate resistance @ 5250.

R1-5375 R2-5313 PP-5198 S1-5147 S2-5083

ITRADING STRATEGY: TRADING STRATEGY: BUY GUARSSED JUN ABOVE 5250 TGTS 5280,5330 SL 5200 SELL GUARSEED JUN BELOW 5195 TGTS 5165,5115 SL 5245R

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