DAILY AGRI REPORT
TURMERIC
Indian turmeric futures rose due to a decline in spot supplies and on export demand, but higher
carry-forward stocks capped the upside. Export demand is supportive, but the local buying is
still below expectations. It is seen picking up ahead of the festival. Sowing activities for turmeric
has almost completed in the leading cultivating areas and the crop is in a good condition.
TURMERIC (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 4900,
SUPPORT 2: 4852,
RESISTENCE 1: 5220,
RESISTENCE 2: 5284,
STRATEGY: BUY ON DIPS.
SOYABEAN
Indian soybean futures ended higher on saturday, helped by concerns over crop damage in the
top producing Madhya Pradesh state. Soybean futures leaped 3 percent to a two-month high,
as hot and dry weather forecast for the U.S. crop belt threatened to trim soy yields.
SOYABEAN TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 3360,
SUPPORT 2: 3298,
RESISTENCE 1: 3442,
RESISTENCE 2: 3465,
STRATEGY: BUY ON DIPS.
CHANA
Indian chana, or chickpea, futures were marginally up on hopes of improvement in local
demand in the festive season though expectations of higher sowing due to ample rains
restricted the upside. Chickpea is a rabi crop sown during the winter and farmers depend on
rains to moisten the land for sowing. Local buying is expected to gain pace in the coming days
because of the upcoming festival but trading activities are slow because higher area under
summer-sown pulses is weighing on the sentiment. 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: 3181,
RESISTENCE 2: 3277.
STRATEGY: BUY ON DIPS.
DHANIYA
Dhaniya in future trade consolidate on saturday and 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: 5626,
SUPPORT 2: 5535,
RESISTENCE 1: 5848,
RESISTENCE 2: 5983.
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 due to a decline in spot supplies and on export demand, but higher
carry-forward stocks capped the upside. Export demand is supportive, but the local buying is
still below expectations. It is seen picking up ahead of the festival. Sowing activities for turmeric
has almost completed in the leading cultivating areas and the crop is in a good condition.
TURMERIC (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 4900,
SUPPORT 2: 4852,
RESISTENCE 1: 5220,
RESISTENCE 2: 5284,
STRATEGY: BUY ON DIPS.
SOYABEAN
Indian soybean futures ended higher on saturday, helped by concerns over crop damage in the
top producing Madhya Pradesh state. Soybean futures leaped 3 percent to a two-month high,
as hot and dry weather forecast for the U.S. crop belt threatened to trim soy yields.
SOYABEAN TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 3360,
SUPPORT 2: 3298,
RESISTENCE 1: 3442,
RESISTENCE 2: 3465,
STRATEGY: BUY ON DIPS.
CHANA
Indian chana, or chickpea, futures were marginally up on hopes of improvement in local
demand in the festive season though expectations of higher sowing due to ample rains
restricted the upside. Chickpea is a rabi crop sown during the winter and farmers depend on
rains to moisten the land for sowing. Local buying is expected to gain pace in the coming days
because of the upcoming festival but trading activities are slow because higher area under
summer-sown pulses is weighing on the sentiment. 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: 3181,
RESISTENCE 2: 3277.
STRATEGY: BUY ON DIPS.
DHANIYA
Dhaniya in future trade consolidate on saturday and 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: 5626,
SUPPORT 2: 5535,
RESISTENCE 1: 5848,
RESISTENCE 2: 5983.
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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