19/12/2014

Date and Time

19/DEC/2014
STOCK: TURMERIC
APR
Call: BUY
CMP: 8050
Initiation Level:
7850-7860
Book Profit (Level
1): 8200
Book Profit (Level
2): 8400
Stop Loss: 7550
Conviction Level:

TURMERIC APR NCDEX

Turmeric Apr NCDEX: Turmeric apr futures traded higher in past session prices fired higher
level 8110 and later closed at 8050 levels. Expected lower production in major producing states
such as Andhra Pradesh and Tamil Nadu and pickup in demand may support the prices in
coming days. On Tuesday, turmeric arrivals in Erode were around 2500 bags (1bag=70kg), up
from previous day. As per market source, total production of turmeric in the current year is
expected to be 35-37 lakh bags (1 bag=75 kg) against 52 lakh bags last year. 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 7750. 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 7550 that could negate present uptrend
in the near term. Hence, we recommend only buy on deeps around 7850 levels.

Moderate Risk.
Reasoning. (Read
Technical
commentary).
Short term Trend:
Bullish .
Medium Term
Trend: Bullish.
For the Traders: BUY
For Aggressive
Traders: BUY
Support: 7800-77207500
Resistance-81508280-8380
Duration:4-5 Days
Recommendation:On the basics of technical
analysis we are
Recommending to buy
Tmc Apr above (78507860) with the Stop Loss
of 7550 for the Targets of
8200 and 8300.

TMC APR DAILY TECHNICAL CHART

JEERA Jan NCDEX

Date and Time

19/Dec/2014
STOCK: JEERA

Jan

Call: BUY
CMP: 13575
Initiation Level:
ABOVE 13670
Book Profit (Level
1): 13880
Book Profit (Level
2): 14180
Stop Loss: 13280
Conviction Level:
Moderate Risk.

Jeera Jan NCDEX: Prices skyrocketed previous session from the low of 13160 and later high
13650 4% upper circuits and later closed at 13575. 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
13220 could see downside bias towards 13080 followed by 12890 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 13700 could turn the outlook into
positive territory in the near term. Hence, we recommend buying only a voluminous break
above 13670 for the day.

Reasoning. (Read
Technical
commentary).
Short term Trend:
Bullish .
Medium Term
Trend: Bullish.
For the Traders: BUY
For Aggressive
Traders: BUY
Support: 1315012850-12600
Resistance-1367014080-14300
Duration:4-5 Days
Recommendation:On the basics of
Technical analysis we are
Recommending BUY
Jeera Apr above for
targets of 13890 14180
with a strict a stop loss of
13280.
JEERA JAN DAILY TECHNICAL CHART
CCHATECHNICALCHART

Date and Time

19/Dec/2014

CHANA JAN NCDEX

Chana jan NCDEX: Prices traded choppy and later closed higher at 3290 levels. Lower

STOCK: CHANA JAN

NCDEX

Call: SELL
CMP: 3290
Initiation Level:
Around 3340
Book Profit (Level
1): 3180
Book Profit (Level
2): 3080
Stop Loss: 3450
Conviction Level:
Moderate Risk.

production possibilities could support the market sentiments further a recovery in sowing in
Rajasthan over last few weeks had kept prices down. Bearish news in International markets
affected the market sentiments adversely. As per USDA, expected pulses production in USA is up
by 8% to 2,232,630 metric tonne during 2014 from last year. 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.
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,
any reach around 3340 could see selling pressure with downward bias towards 3150 followed
by 3080. Hence, we recommend selling only any rise around 3340 for the day.

Reasoning. (Read
Technical
commentary).
Short term Trend:
Bulliish .
Medium Term
Trend: Bearish.
For the Traders:
SELL
For Aggressive
Traders: SELL
Support: 3150-30803000
Resistance-3280 3381
Duration: 4-5 Days
Recommendation:On the basics of
Technical analysis we are
Recommending sell
Chana Jan NCDEX on rise
around 3340 for targets
of 3150 3080 with a
strict a stop loss of above
3420
.

CHANA JAN DAILY TECHINICAL CHART

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