Weekly agri commodity report.docx

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15/12/2014

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  1. 1. 15/12/2014
  2. 2. TMC APR DAILY TECHNICAL CHARTDate and Time 15/DEC/2014 STOCK: TURMERIC APR Call: BUY CMP: 7698Initiation Level: 7550-7560Book Profit (Level 1): 7700Book Profit (Level 2): 7900Stop Loss: 7350Conviction Level: Moderate Risk.Reasoning. (Read Technical commentary).Short term Trend: Bullish . Medium Term Trend: Bullish. For the Traders: BUY For Aggressive Traders: BUY Support: 7490-7320- 7200 Resistance-7790- 7900-8080 Duration:4-5 Days Recommendation:- On the basics of technical analysis we are Recommending to buy Tmc Apr above (7550- 7560) with the Stop Loss of 7350 for the Targets of 7700 and 7900.TURMERIC APR NCDEXTurmeric Apr NCDEX: Prices skyrocketed in past few session. Prices traded choppy and later closed lower at 7698 levels. Lower production possibilities could support the market sentiments further as traders also anticipate pick up in exports this month. Lower rains in AP and TN have already adversely affected sowing for the new crop there. Prices are still strongly held the base support of 7450, but major upside views are seen only once it clears the technical resistance of 7850 towards 7950/8200 levels. Moreover, an increase in volume along with OI would support the upward bias. However, unable to do so could see a range bound market and major weakness is seen only if prices rupture bottom horizontal support of 7350 that could negate present uptrend in the near term. Hence, we recommend only buy on deeps around 7550 levels.
  3. 3. Date and Time 15/Dec/2014 STOCK: JEERA Jan Call: BUY CMP: 13260Initiation Level: ABOVE 13300Book Profit (Level 1): 13400Book Profit (Level 2): 13680Stop Loss: 13300Conviction Level: Moderate Risk.Reasoning. (Read Technical commentary).Short term Trend: Bullish . Medium Term Trend: Bullish. For the Traders: BUY For Aggressive Traders: BUY Support: 12950- 12650-12450 Resistance-13300- 13480-13680 Duration:4-5 Days Recommendation:- On the basics of Technical analysis we are Recommending BUY Jeera Apr above for targets of 13290 13300 with a strict a stop loss of 12980.JEERA Jan NCDEXJeera Jan NCDEX: Prices fired previous session from the low of 12760 and later high 13270 4% upper circuits and later closed at 13260. The winter season export and domestic demand are expected to pick up in the coming few weeks till before Christmas. Lower production prospects in International markets firmed up prices as any import would get costlier. Traders anticipate present rates to be on the lower side and anticipate further recovery in coming days as demand firms up. For the day, any break below the support of 12900 could see downside bias towards 12730 followed by 12590 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 13300 could turn the outlook into positive territory in the near term. Hence, we recommend buying only a voluminous break above 13300 for the day.JEERA JAN DAILY TECHNICAL CHART CCHATECHNICALCHART
  4. 4. Date and Time 15/Dec/2014STOCK: CHANA JAN NCDEXCall: SELL CMP: 3090Initiation Level: BELOW 3020Book Profit (Level 1): 3000Book Profit (Level 2): 2960Stop Loss: 3070Conviction Level: Moderate Risk.Reasoning. (Read Technical commentary).Short term Trend: Bearish . Medium Term Trend: Bearish. For the Traders: SELL For Aggressive Traders: SELL Support: 3050-3020- 2960 Resistance-3080 - 3141 Duration: 4-5 Days Recommendation:- On the basics of Technical analysis we are Recommending sell Chana Jan NCDEX on below 3020 for targets of 3000 2960 with a strict a stop loss of above 3060 .CHANA JAN NCDEXChana jan NCDEX: Prices traded choppy and later closed lower at 3090 levels. Lower production possibilities could support the market sentiments further a recovery in sowing in Rajasthan over last few weeks had kept 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 added further to the selling pressure. Prices are however at strong psychological Support level of 3000 for January contract. In Indian markets, reports of lower sowing due to prevailing low rates, good demand from millers and Govt agencies and a rise in MSP from Rs 3100/Q to Rs 3175/Q had supported prices. Chana prices, rebounded firmly from the resistance of 3153 and later closed at 3041. For the day, any break below the moving average 200 SMA support of 3020 could see downward bias towards 3000 followed by 2960. Hence, we recommend selling only a voluminous break below 3020 for the day.CHANA JAN DAILY TECHINICAL CHART
  5. 5. CHANA(JAN) CASOTOR SEED (JAN)DHANIYA (JAN) JEERA (JAN)TURMERIC (APR) SYBEAN (JAN)RM SEED (JAN) SYOIL (JAN)SIDEWAYSSELL ON RISETrendStrategy32103150Resistance30703020SupportUPWARDBUY ON DEEPSTrendStrategy48804810Resistance46504580SupportDOWNWARDSELL ON RISETrendStrategy1360013300Resistance1280012580SupportUPWARDBUY ON DEEPSTrendStrategy1330013580Resistance1273012330SupportSIDEWAYSSELL ON RISETrendStrategy80807880Resistance77007500SupportCONSOLIDATEBUY ON DEEPSTrendStrategy34503360Resistance32603150SupportCONSOLIDATEBUY ON DEEPSTrendStrategy41604080Resistance39603880SupportCONSOLIDATEBUY ON DEEPSTrendStrategy607598Resistance583574SupportTECHNICAL LEVELS
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