DAILY AGRI REPORT
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 THURSDAY IF IT WILL BREAK
THE UPPER LEVEL OF 5116.
TURMERIC (SEP.) TECHNICAL VIEW:
TREND: BULLISH
SUPPORT 1: 4922,
SUPPORT 2: 4796,
RESISTENCE 1: 5116,
RESISTENCE 2: 5220,
STRATEGY: BUY ON DIPS.
SOYABEAN
Indian soyoil futures rose on wedneday to hit their highest level, while soybean jumped more
than 2 percent on weak rupee and following gains in the world market. The Indian rupee fell to
a record low on wednesday and looked poised for further losses, with a series of measures
unveiled last week failing to stall its decline. Malaysian palm oil futures gained 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: 3240,
SUPPORT 2: 3190,
RESISTENCE 1: 3390,
RESISTENCE 2: 3430,
STRATEGY: BUY ON DIPS.
CHANA
Rise in futures, weak arrivals and higher demand perked up chana (kanta) prices in Indore
mandis. Chana prices have been witnessing an uptrend on renewed buying support for the past
few days from the millers. On account of heavy rains in the State over the past one month,
demand for chana and other pulse seeds had declined. However, with weather becoming clear,
demand in chana and other pulse seeds had increased leading to a sharp rise in chana. Weak
arrival and rise in demand have also lifted dollar chana.
IF CHANA WILL BREAK THE LEVEL OF 3120 THAN THERE MAY BE MORE STRONG
BULLISH TREND FOR THURSDAY. CHANA HIT A 3% UPPER CIRCUIT ON WEDNESDAY AS IT BREAK
A STRONG TREND LINE AND BREAK THE UPPER LEVEL OF 3038 ON WEDNESDAY ALSO WITH A
STRONG VOLUME.
CHANA (SEP.) TECHNICAL VIEW:
TREND: BULLISH
SUPPORT 1: 2954,
SUPPORT 2: 2867,
RESISTENCE 1: 3120,
RESISTENCE 2: 3277.
STRATEGY: BUY ON DIPS.
DHANIYA
Dhaniya rose in future trade on Wednesday and there is chances of good buying trend by
speculators in future trade in dhaniya for upcoming days.
DHANIYA (SEP.) TECHNICAL VIEW:
TREND: BULLISH
SUPPORT 1: 5667,
SUPPORT 2: 5535,
RESISTENCE 1: 5845,
RESISTENCE 2: 5894.
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.
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 THURSDAY IF IT WILL BREAK
THE UPPER LEVEL OF 5116.
TURMERIC (SEP.) TECHNICAL VIEW:
TREND: BULLISH
SUPPORT 1: 4922,
SUPPORT 2: 4796,
RESISTENCE 1: 5116,
RESISTENCE 2: 5220,
STRATEGY: BUY ON DIPS.
SOYABEAN
Indian soyoil futures rose on wedneday to hit their highest level, while soybean jumped more
than 2 percent on weak rupee and following gains in the world market. The Indian rupee fell to
a record low on wednesday and looked poised for further losses, with a series of measures
unveiled last week failing to stall its decline. Malaysian palm oil futures gained 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: 3240,
SUPPORT 2: 3190,
RESISTENCE 1: 3390,
RESISTENCE 2: 3430,
STRATEGY: BUY ON DIPS.
CHANA
Rise in futures, weak arrivals and higher demand perked up chana (kanta) prices in Indore
mandis. Chana prices have been witnessing an uptrend on renewed buying support for the past
few days from the millers. On account of heavy rains in the State over the past one month,
demand for chana and other pulse seeds had declined. However, with weather becoming clear,
demand in chana and other pulse seeds had increased leading to a sharp rise in chana. Weak
arrival and rise in demand have also lifted dollar chana.
IF CHANA WILL BREAK THE LEVEL OF 3120 THAN THERE MAY BE MORE STRONG
BULLISH TREND FOR THURSDAY. CHANA HIT A 3% UPPER CIRCUIT ON WEDNESDAY AS IT BREAK
A STRONG TREND LINE AND BREAK THE UPPER LEVEL OF 3038 ON WEDNESDAY ALSO WITH A
STRONG VOLUME.
CHANA (SEP.) TECHNICAL VIEW:
TREND: BULLISH
SUPPORT 1: 2954,
SUPPORT 2: 2867,
RESISTENCE 1: 3120,
RESISTENCE 2: 3277.
STRATEGY: BUY ON DIPS.
DHANIYA
Dhaniya rose in future trade on Wednesday and there is chances of good buying trend by
speculators in future trade in dhaniya for upcoming days.
DHANIYA (SEP.) TECHNICAL VIEW:
TREND: BULLISH
SUPPORT 1: 5667,
SUPPORT 2: 5535,
RESISTENCE 1: 5845,
RESISTENCE 2: 5894.
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.
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