9 Daily Newsletter- AGRI COMMODITY

8AUG.2013

MARKET WRAP.
Dhaniya recovers on fresh buying:-NCDEX Dhaniya September contract is closed up by 2.17% on Wednesday. Turmeric September contract hit upper circuit of 4% on Wednesday.
NCDEX Castor seed September contract closed @3533 up by 2.11% on Wednesday. open:3465 High:3550 Low:3437 Close:3533

NCDEX Chana September contract closed down by -41 on Wednesday And registering loss of1.45% open:2813 High:2827 Low:2772 Close:2782 Chili September contract has lost 2.28%.on Wednesday

INTRADAY VIEW.
NCDEX DHANIYA September: The trend in NCDEX DHANIYA September delivery is positive and further up-tick is expected in the near term. For intra-day, support for the commodity is seen at 5400 while 5600 is the resistance. Traders may buy around 5460 with the stop loss of 5400 for the target of 5600 NCDEX Jeera (Sep.): Jeera for September delivery may trade positive on Wednesday Resistance: 13500, 13680. Support: 13200, 13135 NCDEX Turmeric(Sep.):NCDEX Turmeric for September delivery may trade negative on Thursday Resistance: 5300, 5420 Support: 4535, 4485

NCDEX Soybean Soy Oil negative on weak fundamentals; further short covering expected: both Soybean and Soy Oil prices on NCDEX are exhibiting positive trend only due to short covering. Over all fundamentals look negative. NCDEX Turmeric: NCDEX Turmeric September 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.
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DAILY MARKET UPDATE

COMMODITY
SOYABEAN (18OCT 2013 ) 2936.00 REFINED SOYA OIL (20AUG2013) 649.00 DHANIYA (20AUG2013 ) 5448.00 JEERA (20AUG2013 ) 13285.00 TURMERIC (20AUG2013 ) 4672.00 CHANA (20AUG2013 ) 2817.00 GUARSEED (18OCT 2013 ) 4140.00 GUARGUM (18OCT 2013 ) 11600.00 CASTORSEED (20AUG2013 ) 3457.00 RMSEED (20AUG2013 ) 3533.00 76.00 2.20 11550.00 -50.00 -0.43 4150.00 10.00 0.24 2782.00 -35.00 -1.24 4866.00 194.00 4.15 13390.00 105.00 0.79 5561.00 113.00 2.07 644.20 -4.80 -0.74 2934.00 -2.00 -0.07 P.CLOSE LAST CLOSE NET CHANGE % CHANGE

3243.00

3197.00

-46.00

-1.42

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TECHNICAL VIEW
Turmeric (AUG.)
`

TREND STRATEGY

BEARISH SELL ON HIGH 5280 5470 4645 4535

RESISTANCE

SUPPORT

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DHANIYA (20 AUG.)

TREND STRATEGY CONSOLIDATE BUY ON DIPS 5595 5680 5340 5260

RESISTANCE

SUPPORT

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CHANA (AUG.)
TREND STRATEGY

CONSOLIDATE BUY ON DIPS 2890 2965 2780 2730

RESISTANCE

SUPPORT

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COMMODITY CONTRACT JEERA UNJHA

September

RESISTANCE SUPPORT
R1:13500 R2:13590 S1: 13250 S2:13180 S1:3370 S2:3290 S1:4000 S2: 3860 S1: 642.00 S2: 635.00

TREND
CONSOLIDATE

STRATAGEY
BUY ON DIPS

CASTORSEED

September

R1:3550 R2: 3585

BEARISH

SELL ON HIGH

GUARSEED

October

R1: 5335 R2: 5465

CONSOLIDATE

BUY ON DIPS

REFINED OIL

September

R1: 660.00 R2:665.00

CONSOLIDATE

SELL ON HIGH

CHANA

September

R1: 2890 R2: 3120

S1:2555 S2: 2510 S1:3000 S2:2820 S1:5035 S2:5000

CONSOLIDATE

SELL ON HIGH

RMSEED

September

R1:3290 R2:3320

BEARISH

SELL ON HIGH

CHILLI

September

R1:5630 R2:5720

BEARISH

BUY ON DIPS

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