DAILY AGRI REPORT
TURMERIC
Turmeric prices continued to rule flat in Erode markets on Tuesday as orders from North India
are yet to come. Arrivals are on the rise on hopes of new orders coming, while stockists have
begun to build inventories.
TURMERIC (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 4990,
SUPPORT 2: 4920,
RESISTENCE 1: 5220,
RESISTENCE 2: 5284,
STRATEGY: SELL ON RISE.
SOYABEAN
Soyabean prices are set to rise on global cues and reports of large-scale damage to the crop in
Madhya Pradesh. Indian soyoil futures jumped to a 10-week high on Wednesday, while the
soybean contract rose to its highest level in nearly six weeks, supported by a plunge in the
rupee to a record low and as edible oil prices improved overseas. Rapeseed also rose, tracking
gains in edible oil prices, though higher stocks limited the upside. Imports are becoming costlier
because of the falling rupee. In the spot market, demand is good as traders are making
purchases for the festive season.
SOYABEAN TECHNICAL VIEW:
TREND: BULLISH
SUPPORT 1: 3570,
SUPPORT 2: 3520,
RESISTENCE 1: 3770,
RESISTENCE 2: 3817,
STRATEGY: BUY ON DIPS.
CHANA
Indian chana, or chickpea, futures rose on value buying while hopes of a pick-up in local
demand in the festive season aided the upside. Demand in the local market should improve
because of the festivals while prices are also attractive for stockists. Local demand for chana
flour is likely to pick up in the coming days, ahead of Ganesh Chaturthi, a local festival.
However, expectations of better sowing in the winter months capped the gains.
CHANA (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 3087,
SUPPORT 2: 3015,
RESISTENCE 1: 3202,
RESISTENCE 2: 3277.
STRATEGY: BUY ON DIPS.
JEERA
Indian jeera, or cumin seed, futures consolidate on Wednesday 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
Turmeric prices continued to rule flat in Erode markets on Tuesday as orders from North India
are yet to come. Arrivals are on the rise on hopes of new orders coming, while stockists have
begun to build inventories.
TURMERIC (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 4990,
SUPPORT 2: 4920,
RESISTENCE 1: 5220,
RESISTENCE 2: 5284,
STRATEGY: SELL ON RISE.
SOYABEAN
Soyabean prices are set to rise on global cues and reports of large-scale damage to the crop in
Madhya Pradesh. Indian soyoil futures jumped to a 10-week high on Wednesday, while the
soybean contract rose to its highest level in nearly six weeks, supported by a plunge in the
rupee to a record low and as edible oil prices improved overseas. Rapeseed also rose, tracking
gains in edible oil prices, though higher stocks limited the upside. Imports are becoming costlier
because of the falling rupee. In the spot market, demand is good as traders are making
purchases for the festive season.
SOYABEAN TECHNICAL VIEW:
TREND: BULLISH
SUPPORT 1: 3570,
SUPPORT 2: 3520,
RESISTENCE 1: 3770,
RESISTENCE 2: 3817,
STRATEGY: BUY ON DIPS.
CHANA
Indian chana, or chickpea, futures rose on value buying while hopes of a pick-up in local
demand in the festive season aided the upside. Demand in the local market should improve
because of the festivals while prices are also attractive for stockists. Local demand for chana
flour is likely to pick up in the coming days, ahead of Ganesh Chaturthi, a local festival.
However, expectations of better sowing in the winter months capped the gains.
CHANA (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 3087,
SUPPORT 2: 3015,
RESISTENCE 1: 3202,
RESISTENCE 2: 3277.
STRATEGY: BUY ON DIPS.
JEERA
Indian jeera, or cumin seed, futures consolidate on Wednesday 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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