9 Daily Newsletter- AGRI COMMODITY

29JULY 2013

MARKET WRAP.

NCDEX Turmeric August contract is closed up by 1.22% on Friday.

NCDEX Chana August contract closed @2709 up by 2.73 4 % % in Friday. open: 2632 High: 2718 Low:2567 Close: 2709

NCDEX Dhaniya August contract closed up by -140 on Friday. and registering profit of 2.59% open: 5350 High: 5592 Low: 5290 Close: 5572 Guar seed and Guar gum October contract has lost more than 1.5%.on Friday

INTRADAY VIEW.
NCDEX Jeera for August delivery may trade positive on Monday Resistance: 13470, 13790 Support: 13120, 13015 The trend in NCDEX coriander futures for August delivery is negative; however, further short covering is expected at current levels. The trend in Soyabean futures for August delivery is bearish and downward movement is expected in the near term. Resistance: 3000, 3105 Support: 2850,
NCDEX Turmeric for August delivery may trade negative on Friday Resistance: 5620, 5990 Support: 5300, 518 5

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 ) 2884.00 REFINED SOYA OIL (20AUG2013) 634.00 DHANIYA (20AUG2013 ) 5432.00 JEERA (20AUG2013 ) 13270.00 TURMERIC (20AUG2013 ) 5400.00 CHANA (20AUG2013 ) 2637.00 GUARSEED (18OCT 2013 ) 4670.00 GUARGUM (18OCT 2013 ) 13110.00 CASTORSEED (20AUG2013 ) 3236.00 RMSEED (20AUG2013 ) 3250.00 14.00 0.43 12880.00 -230.00 -1.75 4570.00 -100.00 -2.14 2709.00 72.00 2.73 5466.00 66.00 1.22 13322.00 52.00 0.39 5572.00 140.00 2.58 644.50 10.50 1.66 2958.00 74.00 2.57 P.CLOSE LAST CLOSE NET CHANGE % CHANGE

3099.00

3147.00

48.00

1.55

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TECHNICAL VIEW
Turmeric (AUG.)
`

TREND STRATEGY

BEARISH SELL ON HIGH 5620 5980 5300 5190

RESISTANCE

SUPPORT

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DHANIYA (20 AUG.)

TREND STRATEGY

BEARISH SELL ON HIGH 5625 5780 5140 4950

RESISTANCE

SUPPORT

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CHANA (AUG.)
TREND STRATEGY

CONSOLIDATE BEARISH 2830 2930 2555 2520

RESISTANCE

SUPPORT

Expect further fall in Chana prices: The country has achieved a record pulses production of
18.45 million tons (MT) in the 2012-13 crop year ended June, while food grain output fell by 1.5% to 255.36 MT due to drought in some states last year. According to fourth advance Estimates released on 22nd July 2013, Total pulses output for 2012-13 season has been pegged at record 18.45 million tons compared to the third advance estimates of 18 million tons and 17.09 million tons produced in 2011-12 season. Kharif Pulses witnessed a marginal decline in the output which was offset by a considerable rise in Rabi output, especially Chana.

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COMMODITY CONTRACT JEERA UNJHA

August

RESISTANCE SUPPORT
R1:13550 R2:13990 S1: 12750 S2:12580 S1:3120 S2:2990 S1:4000 S2: 3860 S1: 625.00 S2: 615.00

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: 655.00 R2:668.00

BEARISH

SELL ON HIGH

CHANA

August

R1: 2850 R2: 3120

S1:2600 S2: 2560 S1:3000 S2:2820 S1:5380 S2:5260

BEARISH

SELL ON HIGH

RMSEED

August

R1:3490 R2:3620

BEARISH

SELL ON HIGH

CHILLI

August

R1:5630 R2:5720

BULLISH

BUY ON DIPS

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