9 Daily Newsletter- AGRI COMMODITY

26JULY 2013

MARKET WRAP.
Guar gum and Guar hit lower circuit of 4% todays trading session. Soyabean Indore has lost 4%. Dhaniya and Castor seed hit lower circuit of 4% todays trading session. NCDEX Turmeric August contract is closed down by 3.2% on Thursday.
NCDEX Chana August contract closed @2637 hit lower circuit of 4% % in todays trading session. Hit 2 years low on Thursday open: 2743 High: 2743 Low:2637 Close: 2637

NCDEX RM Seed August contract closed down by -129 on todays and registering loss of.4% open: 3200 High: 3205 Low:3099 Close: 3099

INTRADAY VIEW.
NCDEX August Chana 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. 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, 2800.

NCDEX Turmeric for August delivery may trade negative on Friday Resistance: 5435, 5520 Support: 5220, 5075
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DAILY MARKET UPDATE

COMMODITY
SOYABEAN (18OCT 2013 ) 3000.00 REFINED SOYA OIL (20AUG2013) 651.50 DHANIYA (20AUG2013 ) 5655.00 JEERA (20AUG2013 ) 13270.00 TURMERIC (20AUG2013 ) 5540.00 CHANA (20AUG2013 ) 2739.00 GUARSEED (18OCT 2013 ) 4860.00 GUARGUM (18OCT 2013 ) 13650.00 CASTORSEED (20AUG2013 ) 3365.00 RMSEED (20AUG2013 ) 3236.00 -129.00 -3.83 13110.00 -540.00 -3.96 4670.00 -190.00 -3.91 2637.00 -102.00 -3.72 5400.00 -140.00 -2.53 13270.00 0.00 0.00 5432.00 -223.00 -3.94 634.00 -17.50 -2.69 2884.00 -116.00 -3.87 P.CLOSE LAST CLOSE NET CHANGE % CHANGE

3317.00

3219.00

-98.00

-2.95

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TECHNICAL VIEW
Turmeric (AUG.)
`

TREND STRATEGY

BEARISH SELL ON HIGH 5530 5660 5350 5215

RESISTANCE

SUPPORT

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DHANIYA (20 AUG.)

TREND STRATEGY

BEARISH SELL ON HIGH 5970 6095 5550 5485

RESISTANCE

SUPPORT

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CHANA (AUG.)

TREND STRATEGY

CONSOLIDATE BEARISH 2820 2750 2595 2570

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
R1:13750 R2:13990 S1: 13110 S2:12920 S1:3220 S2:3140 S1:4550 S2: 4470 S1: 625.00 S2: 620.00 S1:2610 S2: 2540 S1:3085 S2:3055 S1:5390 S2:5290

TREND
CONSOLIDATE

STRATAGEY
SELL ON HIGH

CASTORSEED

August

R1:3330 R2: 3365

BEARISH

SELL ON HIGH

GUARSEED

October

R1: 5335 R2: 5465

CONSOLIDATE

BUY ON DIPS

REFINED OIL

October

R1: 676.00 R2:683.00

BEARISH

SELL ON HIGH

CHANA

August

R1: 3155 R2: 3190

BEARISH

SELL ON HIGH

RMSEED

August

R1:3410 R2:3450

BEARISH

SELL ON HIGH

CHILLI

August

R1:5690 R2:5800

BULLISH

BUY ON DIPS

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