Weekly Agri Report 09 June 2014 BY Epic Research

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WEEKLY AGRI REPORT 09-JUN-2014

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Transcript of Weekly Agri Report 09 June 2014 BY Epic Research

WEEKLY AGRI REPORT

09-JUN-2014

NCDEX WEEKLY Newsletter 4)

AGRI COMMODITY WEEKLY WRAP UP…..!!!!

JEERA FUTURE

According to state's agriculture department,Production of jeera in gujarat is seen rising by 36 percent on year in 2013-2014 to a record 319000 tonnes. Major downside will remain capped as jeera production is expected to fall in Syria and Turkey due to crop failure amid political unrest.

TURMERIC FUTURE

Turmeric futures declined tracking fall in major spot markets. Poor quality crop arrivals and reports of better sowing this year are seen pressurizing the prices. During 2013-14 turmeric export performance have seen decline compared to previous year in terms of volume but higher earnings. Rainfall occurred at many places over Kerala and at a few places over North interior Karnataka. Isolated rainfall occurred over Coastal Andhra Pradesh, Rayalaseema,Tamil Nadu, Coastal and South interior Karnataka. Dry weather prevailed over Telangana.

CHANA FUTURE

Chana futures may trade on a mixed note. Ample supplies, weak demand, rising stocks on the exchange warehouses, higher sowing of summer pulses and higher output in 2013-14 may keep prices under downside pressure. However, lower level buying coupled with pickup in demand from the millers and lower pulses target for 2014-15 on forecast of below normal monsoon by the IMD may support prices at lower levels.

SOYABEAN FUTURE

Soybean futures are expected to trade on a negative note in the intraday. Weak overseas markets and poor soy meal export demand may keep prices under check. However, tight supplies and lower availability of seeds for sowing may support prices at lower levels.

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NCDEX WEEKLY TECHNICAL LEVELS

DHANIYA 4 HOURLY CANDLESTICK CHART

R1-9629 R2-9709 PP-9514 S1-9428 S2-9319

TRADING STRATEGY: BUY DHANIYA JUN ABOVE 9605 TGTS 9705,9805 SL 9480 SELL DHANIYA JUN BELOW 9420 TGTS 9320,9220 SL 9550

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NCDEX WEEKLY TECHNICAL LEVELS

GUARSEED 4 HOURLY CANDLESTICK CHART

R1-5375 R2-5267 PP-5027 S1-4873 S2-4787

TRADING STRATEGY:

BUY GUARSEED JUN ABOVE 5090 TGTS 5190,5290 SL 4960SELL GUARSEED JUN BELOW 4920 TGTS 4820,4720 SL 5050

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NCDEX WEEKLY TECHNICAL LEVELS

JEERA 4 HOURLY CANDLESTICK CHART

R1-11018 R2-11242 PP-10897 S1-10673 S2-10552

TRADING STRATEGY:

BUY JEERA JUN ABOVE 11000 TGTS 11150,11350 SL 10850 SELL JEERA JUN BELOW 10720 TGTS 10570,10370 SL 10870

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