DAILY AGRI REPORT
TURMERIC
Indian turmeric futures rose on Monday on overseas enquiries and on some improvement in
local buying. Festive demand is expected to support turmeric prices in the near term. Export
demand is also good. Turmeric sowing is almost completed in the leading cultivating areas and
the crop is in a good condition.
TURMERIC (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 5054,
SUPPORT 2: 4974,
RESISTENCE 1: 5220,
RESISTENCE 2: 5284,
STRATEGY: BUY ON DIPS.
SOYABEAN
Indian soyoil futures rose on Monday to their highest level in more than two months, while the
soybean contract hit a five-week high as gains in overseas markets and concerns about local
soybean output bolstered sentiment. Malaysian palm oil futures surged to their highest in more
than two months on Monday as a hot spell in the U.S. Midwest threatened to curb soybean
yields and signalled tighter global edible oil supplies. The tables have suddenly turned. Now the
rupee is weak, heavy rainfall is hurting soybean crop and international markets are also rallying.
All these things have wiped out the impact of higher oilseeds acreage.
SOYABEAN TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 3442,
SUPPORT 2: 3385,
RESISTENCE 1: 3575,
RESISTENCE 2: 3706,
STRATEGY: BUY ON DIPS.
CHANA
Indian chana, or chickpea, futures edged up due to a pick-up in local demand in the festive
season, though expectations of higher sowing on good monsoon rains weighed on sentiment.
Chickpea is a rabi crop sown during the winter and farmers depend on rains to moisten the land
for sowing. Spot demand should improve ahead of festivals and prices are also at lower levels.
Local demand for chana flour is likely to pick up in the coming days, ahead of Ganesh Chaturthi,
a local festival.
CHANA (SEP.) TECHNICAL VIEW:
TREND: BULLISH
SUPPORT 1: 3119,
SUPPORT 2: 3015,
RESISTENCE 1: 3277,
RESISTENCE 2: 3326.
STRATEGY: BUY ON DIPS.
DHANIYA
Dhaniya in future trade up on Monday. There are chances of good buying trend by speculators
in future trade in dhaniya for upcoming days.
DHANIYA (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 5760,
SUPPORT 2: 5626,
RESISTENCE 1: 5920,
RESISTENCE 2: 6000.
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 Monday on overseas enquiries and on some improvement in
local buying. Festive demand is expected to support turmeric prices in the near term. Export
demand is also good. Turmeric sowing is almost completed in the leading cultivating areas and
the crop is in a good condition.
TURMERIC (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 5054,
SUPPORT 2: 4974,
RESISTENCE 1: 5220,
RESISTENCE 2: 5284,
STRATEGY: BUY ON DIPS.
SOYABEAN
Indian soyoil futures rose on Monday to their highest level in more than two months, while the
soybean contract hit a five-week high as gains in overseas markets and concerns about local
soybean output bolstered sentiment. Malaysian palm oil futures surged to their highest in more
than two months on Monday as a hot spell in the U.S. Midwest threatened to curb soybean
yields and signalled tighter global edible oil supplies. The tables have suddenly turned. Now the
rupee is weak, heavy rainfall is hurting soybean crop and international markets are also rallying.
All these things have wiped out the impact of higher oilseeds acreage.
SOYABEAN TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 3442,
SUPPORT 2: 3385,
RESISTENCE 1: 3575,
RESISTENCE 2: 3706,
STRATEGY: BUY ON DIPS.
CHANA
Indian chana, or chickpea, futures edged up due to a pick-up in local demand in the festive
season, though expectations of higher sowing on good monsoon rains weighed on sentiment.
Chickpea is a rabi crop sown during the winter and farmers depend on rains to moisten the land
for sowing. Spot demand should improve ahead of festivals and prices are also at lower levels.
Local demand for chana flour is likely to pick up in the coming days, ahead of Ganesh Chaturthi,
a local festival.
CHANA (SEP.) TECHNICAL VIEW:
TREND: BULLISH
SUPPORT 1: 3119,
SUPPORT 2: 3015,
RESISTENCE 1: 3277,
RESISTENCE 2: 3326.
STRATEGY: BUY ON DIPS.
DHANIYA
Dhaniya in future trade up on Monday. There are chances of good buying trend by speculators
in future trade in dhaniya for upcoming days.
DHANIYA (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 5760,
SUPPORT 2: 5626,
RESISTENCE 1: 5920,
RESISTENCE 2: 6000.
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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