Daily Ncdex Report 2-1-2015
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Transcript of Daily Ncdex Report 2-1-2015
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8/10/2019 Daily Ncdex Report 2-1-2015
1/5
02/01/2015
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8/10/2019 Daily Ncdex Report 2-1-2015
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MC PR D ILY TECHNIC L CH RT
Date and Time
02/JAN/2015
STOCK:TURMERIC
APR
Call: SELLCMP: 9260
Initiation Level:
Around 9480
Book Profit (Level 1):
9230
Book Profit (Level 2):
9080
Stop Loss: Above 9700
Conviction Level:
Moderate Risk.
Reasoning. (Read
Technical
commentary).
Short term Trend:
Bullish .
Medium Term Trend:
Bullish.
For the Traders: SELL
For Aggressive
Traders: SELL
Support: 9080-8840-
8630
Resistance-9450-
9700-10080
Duration: 4-5 Days
Recommendation:-
On the basics of technical
and fundamental analysis
we are Recommending to
sell on rise Tmc Apr
around (9450) with the
Stop Loss of 9750 for the
Targets of 9080 and 8880.
TURMERIC APR NCDEXTurmeric Apr NCDEX: Prices skyrocketed in past few session from the low of 8040 dated 22
dec 2014.Prices traded higher previous session and made high 4% upper circuit 9348 later
closed higher at 9348 levels. Besides, the decrease in OI may keep profit booking for the next
couple of days. With harvesting yet to pick up strongly, any demand has to be met from the
current stock and this factor has been supporting the falling rates to some extent. As per
reports from Spice Board of India, the estimated exports of Turmeric during April-December
2013 was pegged at 58000 MT, up by 17% same period previous year. In value terms, it was up
by 45% at Rs 463.8 Cr.
However, unable coming demand from overseas so could see a range bound market and major
weakness is seen only if prices rupture support of 8680 could see downside bias towards 8300
followed by 8040 that could negate present uptrend in the near term. Hence, we recommend
only sell on rise around 9480 levels for the day.
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8/10/2019 Daily Ncdex Report 2-1-2015
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Date and Time
02/JAN/2015
STOCK: JEERA feb
Call: SELLCMP: 15935
Initiation Level: Around
16700
Book Profit (Level 1):
16280
Book Profit (Level 2):
15880
Stop Loss: 17100
Conviction Level:
Moderate Risk.Reasoning. (Read
Technical commentary).
Short term Trend:
Bullish .
Medium Term Trend:
Bullish.
For the Traders: SELL
For Aggressive Traders:
SELL
Support: 14900-14390-
13890
Resistance-15600-
16280-16880
Duration: 4-5 Days
Recommendation:-
On the basics of Technical
and fundamental analysis
we are Recommending Sell
Jeera FEB around 15700 for
the target of 14900 14300
with a strict a stop loss of
16080.
EERA FEB NCDEX
Jeera Jan NCDEX: Prices fired previous couple of sessions from the low of 13830 dated 22
dec 2014 and Prices traded choppy in previous session made high 16540 and later closed
lower at 15935 levels. Besides, the decrease in OI may keep profit booking for the next coupleof days. Jeera as overall Fundamentals remained strong. Rise in exports and expectations of a
fall in production kept trend Bullish even as International markets close for the New Year
Holidays. The exports are likely to slow down for the week any break below the support of
14900 could see downside bias towards 14730 followed by 14390 levels. However, the
volume is seen steadying these days along with a decline in OI suggests a sideways directive
moves. On the other side, if prices breach the resistance of 15800 could turn the outlook into
positive territory in the near term. Hence, we recommend sell on rise around 16700 for the
day.
JEER FEB D ILY TECHNIC L CH RT
CCH TECHNIC LCH RT
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8/10/2019 Daily Ncdex Report 2-1-2015
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Date and Time
02/JAN/2015
STOCK: CHANA FEB
NCDEX
Call: SELL
CMP: 3471
Initiation Level:
Around3550
Book Profit (Level 1):
3360
Book Profit (Level 2):
3260
Stop Loss: Above 3700
Conviction Level:
Moderate Risk.
Reasoning. (Read
Technical commentary).
Short term Trend:
Bullish .
Medium Term Trend:
Bullish.
For the Traders: SELL
For AggressiveTraders: SELL
Support: 3350-3250-
3080
Resistance-3420
3650-3820
Duration: 4-5 Days
Recommendation:-
On the basics of Technical
and fundamental analysis
we are Recommending sell
Chana Feb NCDEX on
around 3550 for targets of
3360 3260 with a strict a
stop loss of above 3700
.
CHANA FEB NCDEX
Chana Feb NCDEX: Prices higher in past couple of days from the low of 3319 dated 22 dec
2014.Prices traded choppy in previous session made high 3580 and later closed lower at 3471
levels. Lower production possibilities could support the market sentiments further a recovery isowing in Rajasthan over last few weeks will keep prices down. High Pulses stocks and
bearishness in International markets kept pressure on the domestic market sentiments. A
recovery in sowing in Rajasthan over last few days will add further to the selling pressure. Prof
booking at the higher levels around 3680 amidst reports that Government extend the zero duty
import regime for Chana by three months, the previous extension is to end on December
31st.Prices are however at strong psychological resistance level of 3700 for feb contract. As per
1st Advanced crop estimates for 2014-15 by Govt of India, India is likely to produce Kharif Food
grains of 120.27 million tonnes, which is down by 8.97 million tonnes from the record 129.24
million tonnes achieved in Kharif 2013-14.
Hence, we recommend selling around 3550 could see downward bias towards 3360 followed
by 3260 for the day.
CH N FEB D ILY TECHINIC L CH RT
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8/10/2019 Daily Ncdex Report 2-1-2015
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reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose theproduct/s that suits them the most.
*Investment is subject to market risks.
Sincere efforts have been made to present the right investment perspective. The information
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and we are not responsible for any loss incurred due to it & take no responsibility whatsoever for
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