23/01/2015

Date and Time

TURMERIC APR NCDEX

23/Jan/2015

Turmeric Apr NCDEX: turmeric futures are likely to lower made low of 8422 level as profit

STOCK: TURMERIC

booking is progressing in the NCDEX platform and finally closed lower around 8490 levels.

APR

Besides, the decrease in OI may keep profit booking for the next couple of days. According to

Call: SELL

reports, new turmeric crops have started arriving in the spot market of Nizamabad in Telangana

CMP: 8490

at a slow pace of around 1000-1,500 bags (1 bag = 70 kg). But the quality of produce is down, due

Initiation Level:

to very high moisture content of around 30%. This is due to lack of sunlight as low temperature

Around 8850

and cold wave situation. As per reports from Spice Board of India, the estimated exports of

Book Profit (Level 1):

Turmeric during April-December 2013 was pegged at 58000 MT, up by 17% same period

8600

previous year. In value terms, it was up by 45% at Rs 463.8 Cr. However, unable coming demand

Book Profit (Level 2):

from overseas so could see a downside in market and major weakness is seen only if prices

8400

rupture support of 8480 could see downside bias towards 8280 followed by 7840 that could

Stop Loss: Above 9050

negate present uptrend in the near term. Hence, we recommend sell on rise around 8850 could

Conviction Level:

see downside bias towards 8600 followed by 8405 for the days.

Moderate Risk.
Reasoning. (Read
Technical
commentary).
Short term Trend:
Bearish.
Medium Term Trend:
Bullish.
For the Traders: SELL
For Aggressive
Traders: SELL
Support: 8400-83408200
Resistance-87908880-9000
Duration: 4-5 Days
Recommendation:On the basics of technical
and fundamental analysis
we are Recommending to
sell on rise Tmc Apr
around (8850) with the
Stop Loss of 9050 for the
Target of 8600 and 8300.

TMC APR DAILY TECHNICAL CHART

JEERA FEB NCDEX

Date and Time

23/Jan/2015
STOCK: JEERA

feb

Jeera Jan NCDEX: Jeera prices slumped in previous couple of session from the high of
17290 dated 20 January 2015 and made low of 15800 level dated 22 January 2015 around and

Call: SELL

finally closed lower at 15990 level in previous day, besides, the decrease in OI may keep profit

CMP: 15990

booking for the next couple of days, as prices cleared the down trend line support of 15800 for

Initiation Level: Around

the strong downside rallies to 15680 followed by 15300 or even lower to 14680 levels in the

16480

near term. Jeera as overall Fundamentals remained strong. The exports are likely to slow

Book Profit (Level 1):

down, Good domestic and export demand along with forecast of a 33% drop in productivity

16220

could also support prices in the near term. Also, acreage is anticipated to be 30-35 percent

Book Profit (Level 2):

lower as farmers are opting for other more lucrative crops like coriander. As well, the

15900

sustained export demand amid a supply crunch in the global market may limit sharp fall in

Stop Loss: Above 16800

prices. On the other side, if prices breach the resistance of 16800 could turn the outlook into

Conviction Level:

positive territory in the near term. Hence, we recommend sell on rise around 16480 could see

Moderate Risk.

downward bias towards 16220 followed by 15900 for the day.

Reasoning. (Read
Technical commentary).
Short term Trend:
Bearish.
Medium Term Trend:
Bullish.
For the Traders: SELL
For Aggressive Traders:
SELL
Support: 15800-1560015300
Resistance-1650016680-17000
Duration: 4-5 Days
Recommendation:On the basics of Technical
and fundamental analysis
we are Recommending Sell
Jeera FEB around 16480 for
the target of 15900 15000
with a strict a stop loss of
17080.

JEERA FEB DAILY TECHNICAL CHART

CCHATECHNICALCHART

CHANA FEB NCDEX

Date and Time

23/Jan/2015
STOCK: CHANA FEB
NCDEX

Call: SELL
CMP: 3291
Initiation Level:
Around 3380
Book Profit (Level 1):
3320
Book Profit (Level 2):
3260
Stop Loss: Above 3450
Conviction Level:
Moderate Risk.

Chana Feb NCDEX: Prices rebounded firmly from the resistance of 3481 levels on dated 20
January 2015, made low of 3281 levels in previous day and finally closed at lower 3291 levels as
subdued domestic market demand kept trend down. Lower production possibilities could
support the market sentiments Bullish but as harvesting of the new crop picks up in coming
days; this could prevent prices from shooting up a lot as arrivals rise. High Pulses stocks and
bearishness in International markets kept pressure on the domestic market sentiments.
Government have extended 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
Support level of 3300 for February 2015 contract. As per 1st Advanced crop estimates for 201415 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 201314.
Hence, we recommend sell on rise around 3380 could see downward bias towards 3320
followed by 3270 for the day.

Reasoning. (Read
Technical commentary).
Short term Trend:
Bearish.
Medium Term Trend:
Bullish.
For the Traders: SELL
For Aggressive
Traders: SELL
Support: 3260-32203180
Resistance-3400
3450-3520
Duration: 4-5 Days
Recommendation:On the basics of Technical
and fundamental analysis
we are Recommending sell
Chana Feb NCDEX around
3550 for targets of 3360
3260 with a strict a stop
loss of above 3480.
CHANA FEB DAILY TECHINICAL CHART

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