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9 Daily Newsletter- AGRI COMMODITY

23JULY 2013

MARKET WRAP.
Guar gum and Guar hit lower circuit of 4% % in yesterday trading session NCDEX Chana August contract closed @2824 registering loss of 3.8 % on Monday open: 2934 High: 2935 Low:2822 Close: 2824
Soyabean October contract is down by more than 1% on yesterday trading session.

NCDEX Dhaniya August contract closed down by 2.8 % on Monday. open: 5943 High: 5983 Low: 5743 Close: 5957. NCDEX Castor seed August contract is closed down by 2.5 % on Monday.

INTRADAY VIEW.
NCDEX August Chana is going down continuously and making lower lows However the momentum indicator is making higher low indicating divergence. There is probability of trend reversal to the upside. The trend in NCDEX coriander futures for August delivery is negative; however, further short covering is expected at current levels

The trend in Soyabean futures for August delivery is bearish and downward movement is expected in the near term. Resistance: 3125, 3150 Support: 3020, 2990

The trend in castor seed futures for August delivery is positive and further up-tick is expected from current level NCDEX Turmeric for August delivery may trade negative on Tuesday Resistance: 5900, 5950 Support: 5750, 5700
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DAILY MARKET UPDATE


COMMODITY
SOYABEAN (18OCT 2013 )
3125.00 3078.00 -47.00 -1.50

P.CLOSE

LAST CLOSE

NET CHANGE % CHANGE

REFINED SOYA OIL (20AUG2013)


666.00 664.80 -1.20 -0.18

DHANIYA (20AUG2013 )
6027.00 5791.00 -236.00 -3.92

JEERA (20AUG2013 )
13650.00 13530.00 -120.00 -0.88

TURMERIC (20AUG2013 )
5914.00 5830.00 -84.00 -1.42

CHANA (20AUG2013 )
2936.00 2824.00 4950.00 -112.00 -200.00 -3.81 -3.88

GUARSEED (18OCT 2013 )


5150.00

GUARGUM (18OCT 2013 )


14620.00 14040.00 -580.00 -3.97

CASTORSEED (20AUG2013 )
3540.00 3445.00 -95.00 -2.68

RMSEED (20AUG2013 )

3392.00

3362.00

-30.00

-0.88

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TECHNICAL VIEW
Turmeric (AUG.)
`

TREND STRATEGY

BEARISH SELL ON HIGH 6000 6055 5750 5720

RESISTANCE

SUPPORT

DHANIYA (AUG.)

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DHANIYA (20 AUG.)

TREND STRATEGY

CONSOLIDATE SELL ON HIGH 5970 6130 5745 5565

RESISTANCE

SUPPORT

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JEERA (AUG.)

TREND STRATEGY

CONSOLIDATE BUY ON DIPS 13620 13670 13430 13310

RESISTANCE

SUPPORT

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COMMODITY CONTRACT JEERA UNJHA


August

RESISTANCE SUPPORT
R1:13750 R2:13990 S1: 13440 S2:13330 S1:3410 S2:3380 S1:4860 S2: 4810 S1: 655.50 S2: 651.00 S1:2800 S2: 2765 S1:3335 S2:3280 S1:5390 S2:5290

TREND
CONSOLIDATE

STRATAGEY
BUY ON DIPS

CASTORSEED

August

R1:3505 R2: 3655

BEARISH

SELL ON HIGH

GUARSEED

October

R1: 5335 R2: 5465

CONSOLIDATE

BUY ON DIPS

REFINED OIL

October

R1: 676.00 R2:683.00

BEARISH

SELL ON HIGH

CHANA

August

R1: 3155 R2: 3190

BEARISH

SELL ON HIGH

RMSEED

August

R1:3410 R2:3450

BEARISH

SELL ON HIGH

CHILLI

August

R1:5690 R2:5800

BULLISH

BUY ON DIPS

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