Daily agri report by epic research 04 aug 2014

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DAILY AGRI REPORT 4-AUG-2014

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Transcript of Daily agri report by epic research 04 aug 2014

Page 1: Daily agri report by epic research 04 aug  2014

DAILY AGRI REPORT

4-AUG-2014

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NCDEX DAILY Newsletter 4)

AGRI COMMODITY DAILY WRAP UP…..!!!!

CHANA FUTURE

Chana futures traded on a negative note on long liquidation. Revival of monsoon and a sharp increase in the sowing of kharifpulses kept prices under downside pressure and settled 2.33% lower. Prices gained earlier this month on demand from the millerscoupled with festive demand and declining arrival pressure.

SOYABEAN FUTURE

Soybean futures opened higher on short coverings at lower levels coupled with tight supplies of the old crop. However, a pickup inthe sowing of soybeans and revival of monsoon capped the upside and settled 0.14% higher. The spot continued to remain weakand declined 2.46%.

CORIANDER FUTURE

Coriander futures are seen trading higher on reports of limited arrivals in the domestic market. On Wednesday, total arrivals ofcoriander in major spot markets in Rajasthan were around 11000 bag . However, reports of crop damage in Romania andnegligible stock in domestic market may keep coriander prices higher. Projected decline in coriander production in Indiacomparedto last year might too push up coriander prices.

JEERA FUTURE

Jeera futures declined for the third straight session on weak demand as buyers are waiting for lower levels to initiate fresh buying.Record output and huge carryover stocks also added to the downside pressure and settled 0.84% lower. Geo-political tensions inSyria and Turkey have led to a supply crunch in the global markets raising supply concerns from the two major exportingcountries. Export orders are diverted to India. Production is also expected to fall in Syria and Turkey due to crop failure

SUGAR FUTURE

Sugar futures are expected to trade on a mixed note with a negative bias. Higher supplies and lack of fresh export orders may keep prices under downside pressure. However, festive demand is expected to emerge at lower levels, thus, lending support to the falling prices.

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NCDEX DAILY Newsletter 4)

NCDEX DAILY TECHNICAL LEVELS

DHANIYA HOURLY CANDLESTICK CHART

Dhaniya Aug chart trend is bullish, Momentum Indicator RSI is above mid range, expecting price may go up Immediate support @ 11865 & Immediate resistance @ 11940.

R2-12064 R1-11988 PP-11860 S1-11784 S2-11656

TRADING STRATEGY:

BUY DHANIYA AUG ABOVE 11940 TGTS 11970,12020 SL 11890 SELL DHANIYA AUG BELOW 11865 TGTS 11835,11785 SL 11915

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NCDEX DAILY Newsletter 4)

NCDEX DAILY TECHNICAL LEVELS

GUARSEED HOURLY CANDLESTICK CHART

In Guarseed chart, Price is in support level, expecting from here onwards guarseed price may go DownMomentum indicators RSI is below mid range. In intraday basis immediate support @ 4985 & immediate resistance @ 5040.

R2-5190 R1-5100 PP-5025 S1-4935 S2-4860

TRADING STRATEGY: BUY GUARSEED AUG ABOVE 5040 TGTS 5070,5120 SL 4990 SELL GUARSEED AUG BELOW 4985 TGTS 4955,4905 SL 5035

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NCDEX DAILY Newsletter 4)

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