AGRI REPORT 21 AUG 2013
TURMERIC
Indian turmeric futures rose on fresh export demand, while expectations of a pick up in the
local demand ahead of festivals aided sentiment. It should recover now because prices are at an
attractive level. Demand from north India is also expected to pick up ahead of festivals.
TURMERIC MAY MAKE A STRONG BULLISH TREND FOR WEDNESDAY IF IT WILL
BREAK THE UPPER LEVEL OF 5116.
TURMERIC (SEP.) TECHNICAL VIEW:
TREND: BULLISH
SUPPORT 1: 4900,
SUPPORT 2: 4738,
RESISTENCE 1: 5116,
RESISTENCE 2: 5350,
STRATEGY: BUY ON DIPS.
SOYABEAN
Indian soyoil futures rose on tuesday to hit their highest level, while soybean jumped 2 percent
on weak rupee and following gains in the world market. Rapeseed futures also edged higher on
the weak rupee that makes edible oil imports expensive, but raises the returns of oilmeal
exporters. The Indian rupee fell to a record low on Monday and looked poised for further
losses, with a series of measures unveiled last week failing to stall its decline. Malaysian palm
oil futures gained on Monday to the highest in over a month, tracking firm soybean markets
and on investor optimism ahead of exports data.
SOYABEAN TECHNICAL VIEW:
TREND: BULLISH
SUPPORT 1: 3144,
SUPPORT 2: 3073,
RESISTENCE 1: 3324,
RESISTENCE 2: 3380,
STRATEGY: BUY ON DIPS.
CHANA
Indian chana, or chickpea, futures up and expectations of a rise in the production of summersown pulses. Supplies are sufficient in the domestic market. Chana prices are expected to jump
at these levels because prices have already fallen a lot. However, traders expect the festive
demand to support prices in the near term. Retail demand for chana flour is likely to pick up in
the coming days, ahead of festivals such as Rakshabandhan and Ganesh Chaturthi.
IF CHANA WILL BREAK THE LEVEL OF 3038 THAN THERE MAY BE MORE STRONG
BULLISH TREND FOR WEDNESDAY.
CHANA (SEP.) TECHNICAL VIEW:
TREND: BULLISH
SUPPORT 1: 2954,
SUPPORT 2: 2867,
RESISTENCE 1: 3038,
RESISTENCE 2: 3157.
STRATEGY: BUY ON DIPS.
DHANIYA
Dhaniya fall in future trade on tuesday but failed to touch the level of 5535 there is chances of
good buying trend by speculators in future trade in dhaniya for upcoming days
DHANIYA (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 5535,
SUPPORT 2: 5480,
RESISTENCE 1: 5816,
RESISTENCE 2: 5927.
STRATEGY: BUY ON DIPS.
DISCLAIMER
The information and views in this report, our website & all the service we provide are believed
to be reliable, but we do Company not accept any responsibility (or liability) for errors of fact or
opinion. Users have the right to choose the product/s that suits them the most.
Use of this report in no way constitutes a client/advisor relationship, all information we
communicate to you (the subscriber) either through our Web site or other forms of
communications, are purely for informational purposes only. We recommend seeking individual
investment advice before making any investment, for you are assuming sole liability for your
investments. Capital Stars will in no way have discretionary authority over your trading or
investment accounts.
All rights reserved.
TURMERIC
Indian turmeric futures rose on fresh export demand, while expectations of a pick up in the
local demand ahead of festivals aided sentiment. It should recover now because prices are at an
attractive level. Demand from north India is also expected to pick up ahead of festivals.
TURMERIC MAY MAKE A STRONG BULLISH TREND FOR WEDNESDAY IF IT WILL
BREAK THE UPPER LEVEL OF 5116.
TURMERIC (SEP.) TECHNICAL VIEW:
TREND: BULLISH
SUPPORT 1: 4900,
SUPPORT 2: 4738,
RESISTENCE 1: 5116,
RESISTENCE 2: 5350,
STRATEGY: BUY ON DIPS.
SOYABEAN
Indian soyoil futures rose on tuesday to hit their highest level, while soybean jumped 2 percent
on weak rupee and following gains in the world market. Rapeseed futures also edged higher on
the weak rupee that makes edible oil imports expensive, but raises the returns of oilmeal
exporters. The Indian rupee fell to a record low on Monday and looked poised for further
losses, with a series of measures unveiled last week failing to stall its decline. Malaysian palm
oil futures gained on Monday to the highest in over a month, tracking firm soybean markets
and on investor optimism ahead of exports data.
SOYABEAN TECHNICAL VIEW:
TREND: BULLISH
SUPPORT 1: 3144,
SUPPORT 2: 3073,
RESISTENCE 1: 3324,
RESISTENCE 2: 3380,
STRATEGY: BUY ON DIPS.
CHANA
Indian chana, or chickpea, futures up and expectations of a rise in the production of summersown pulses. Supplies are sufficient in the domestic market. Chana prices are expected to jump
at these levels because prices have already fallen a lot. However, traders expect the festive
demand to support prices in the near term. Retail demand for chana flour is likely to pick up in
the coming days, ahead of festivals such as Rakshabandhan and Ganesh Chaturthi.
IF CHANA WILL BREAK THE LEVEL OF 3038 THAN THERE MAY BE MORE STRONG
BULLISH TREND FOR WEDNESDAY.
CHANA (SEP.) TECHNICAL VIEW:
TREND: BULLISH
SUPPORT 1: 2954,
SUPPORT 2: 2867,
RESISTENCE 1: 3038,
RESISTENCE 2: 3157.
STRATEGY: BUY ON DIPS.
DHANIYA
Dhaniya fall in future trade on tuesday but failed to touch the level of 5535 there is chances of
good buying trend by speculators in future trade in dhaniya for upcoming days
DHANIYA (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 5535,
SUPPORT 2: 5480,
RESISTENCE 1: 5816,
RESISTENCE 2: 5927.
STRATEGY: BUY ON DIPS.
DISCLAIMER
The information and views in this report, our website & all the service we provide are believed
to be reliable, but we do Company not accept any responsibility (or liability) for errors of fact or
opinion. Users have the right to choose the product/s that suits them the most.
Use of this report in no way constitutes a client/advisor relationship, all information we
communicate to you (the subscriber) either through our Web site or other forms of
communications, are purely for informational purposes only. We recommend seeking individual
investment advice before making any investment, for you are assuming sole liability for your
investments. Capital Stars will in no way have discretionary authority over your trading or
investment accounts.
All rights reserved.
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