DAILY AGRI REPORT
TURMERIC
Indian turmeric futures edged up due to fresh demand from exporters though higher carry
forward stocks weighed on sentiment. Overseas demand is regular in turmeric and is expected
to support prices in the short term. Local buying is also likely to improve in the festive season.
Turmeric sowing is almost complete in the leading cultivating areas and the crop is in good
condition.
TURMERIC (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 5080,
SUPPORT 2: 4940,
RESISTENCE 1: 5220,
RESISTENCE 2: 5284,
STRATEGY: BUY ON DIPS.
SOYABEAN
Soyabean prices are set to rise on global cues and reports of large-scale damage to the crop in
Madhya Pradesh. Notwithstanding rise in acreage, hopes of higher crop output this year,
appears to have been dashed as the recent rains in Madhya Pradesh have damaged 40-50 per
cent crops.
SOYABEAN TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 3508,
SUPPORT 2: 3463,
RESISTENCE 1: 3605,
RESISTENCE 2: 3663,
STRATEGY: BUY ON DIPS.
CHANA
Indian chana, or chickpea, futures fell as expectations of better sowing in the winter months
and higher area under summer-sown pulses weighed on sentiment. It is expected to fall further
by the end of the session as higher area under cultivation and rains are keeping prices under
pressure. Offloading of positions by speculators due to a weak trend at spot market on subdued
demand against increased supplies from producing regions mainly kept pressure on chana
prices at futures trade.
CHANA (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 3087,
SUPPORT 2: 3015,
RESISTENCE 1: 3277,
RESISTENCE 2: 3326.
STRATEGY: BUY ON DIPS.
JEERA
Indian jeera, or cumin seed, futures rose on Tuesday due to some improvement in overseas
enquiries and demand from spot buyers. Prices are expected to stay firm in the short term
because exporters are quite active. Buyers have turned to India in the absence of supplies from
other producing countries. expectations of higher sowing in the leading cultivating state
restricted the upside.
JEERA (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 13430,
SUPPORT 2: 13310,
RESISTENCE 1: 13785,
RESISTENCE 2: 13965.
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 edged up due to fresh demand from exporters though higher carry
forward stocks weighed on sentiment. Overseas demand is regular in turmeric and is expected
to support prices in the short term. Local buying is also likely to improve in the festive season.
Turmeric sowing is almost complete in the leading cultivating areas and the crop is in good
condition.
TURMERIC (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 5080,
SUPPORT 2: 4940,
RESISTENCE 1: 5220,
RESISTENCE 2: 5284,
STRATEGY: BUY ON DIPS.
SOYABEAN
Soyabean prices are set to rise on global cues and reports of large-scale damage to the crop in
Madhya Pradesh. Notwithstanding rise in acreage, hopes of higher crop output this year,
appears to have been dashed as the recent rains in Madhya Pradesh have damaged 40-50 per
cent crops.
SOYABEAN TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 3508,
SUPPORT 2: 3463,
RESISTENCE 1: 3605,
RESISTENCE 2: 3663,
STRATEGY: BUY ON DIPS.
CHANA
Indian chana, or chickpea, futures fell as expectations of better sowing in the winter months
and higher area under summer-sown pulses weighed on sentiment. It is expected to fall further
by the end of the session as higher area under cultivation and rains are keeping prices under
pressure. Offloading of positions by speculators due to a weak trend at spot market on subdued
demand against increased supplies from producing regions mainly kept pressure on chana
prices at futures trade.
CHANA (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 3087,
SUPPORT 2: 3015,
RESISTENCE 1: 3277,
RESISTENCE 2: 3326.
STRATEGY: BUY ON DIPS.
JEERA
Indian jeera, or cumin seed, futures rose on Tuesday due to some improvement in overseas
enquiries and demand from spot buyers. Prices are expected to stay firm in the short term
because exporters are quite active. Buyers have turned to India in the absence of supplies from
other producing countries. expectations of higher sowing in the leading cultivating state
restricted the upside.
JEERA (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 13430,
SUPPORT 2: 13310,
RESISTENCE 1: 13785,
RESISTENCE 2: 13965.
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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