9 Daily Newsletter- AGRI COMMODITY

1AUG.2013

MARKET WRAP.
Castor seed recovers on fresh buying:-NCDEX Castor seed October contract is closed up by 2.7% on Wednesday Chili hit lower circuit of 4% todays trading session.
NCDEX Soy Oil October contract closed @653.00 up by 1.2% on Wednesday. open: 650 High:659.55 Low:650 Close: 653.50

NCDEX guar seed October contract closed up by +90 on Wednesday. And registering profit of 2.1% open: 3086 High:3162 Low:3317 Close:3157 Turmeric august contract has lost 2%.on Wednesday.

INTRADAY VIEW.
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 Jeera for August delivery may trade positive on Thursday. Resistance: 13190, 13320. Support: 12700, 12665 The trend in NCDEX coriander futures for August delivery is negative; however, further short covering is expected at current levels.
NCDEX Turmeric for August delivery may trade negative on Tuesday Resistance: 5300, 5420 Support: 5050, 5010.

NCDEX August Chana is going down continuously and making lower lows (hit 2 years low) 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 ) 2981.00 REFINED SOYA OIL (20AUG2013) 647.00 DHANIYA (20AUG2013 ) 5212.00 JEERA (20AUG2013 ) 12870.00 TURMERIC (20AUG2013 ) 5188.00 CHANA (20AUG2013 ) 2641.00 GUARSEED (18OCT 2013 ) 4150.00 GUARGUM (18OCT 2013 ) 11820.00 CASTORSEED (20AUG2013 ) 3157.00 RMSEED (20AUG2013 ) 3225.00 68.00 2.15 11920.00 100.00 0.85 4210.00 60.00 1.45 2630.00 -11.00 -0.42 5092.00 -96.00 -1.85 12970.00 100.00 0.78 5240.00 28.00 0.54 653.50 6.50 1.00 2971.00 -10.00 -0.34 P.CLOSE LAST CLOSE NET CHANGE % CHANGE

3071.00

3125.00

54.00

1.76

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TECHNICAL VIEW
Turmeric (AUG.)
`

TREND STRATEGY

BEARISH SELL ON HIGH 5280 5470 5040 4935

RESISTANCE

SUPPORT

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DHANIYA (20 AUG.)

TREND STRATEGY BEARISH SELL ON HIGH 5320 5440 5095 4920

RESISTANCE

SUPPORT

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CHANA (AUG.)
TREND STRATEGY

CONSOLIDATE BEARISH 2680 2740 2560 2520

RESISTANCE

SUPPORT

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COMMODITY CONTRACT JEERA UNJHA

August

RESISTANCE SUPPORT
R1:13250 R2:13590 S1: 12750 S2:12580 S1:3120 S2:2990 S1:4000 S2: 3860 S1: 648.00 S2: 635.00

TREND
CONSOLIDATE

STRATAGEY
SELL ON HIGH

CASTORSEED

August

R1:3360 R2: 3465

BEARISH

SELL ON HIGH

GUARSEED

October

R1: 5335 R2: 5465

CONSOLIDATE

BUY ON DIPS

REFINED OIL

October

R1: 660.00 R2:665.00

BEARISH

SELL ON HIGH

CHANA

August

R1: 2850 R2: 3120

S1:2555 S2: 2510 S1:3000 S2:2820 S1:5300 S2:5260

BEARISH

SELL ON HIGH

RMSEED

August

R1:3190 R2:3320

BEARISH

SELL ON HIGH

CHILLI

August

R1:5630 R2:5720

BULLISH

BUY ON DIPS

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