23/02/2015

TURMERIC APR NCDEX

Date and Time

23/Feb/2015

Turmeric Apr NCDEX: Prices skyrocketed in previous couple of days and consolidate in few

STOCK: TURMERIC

weeks from the low of 7918 level dated 13 February 2015 and made high of 9196 level dated 20

APR

February 2015 and finally closed higher at 9080 level in previous week. Short term trend likely to

Call: BUY

be very strong, fall in sowing area and delayed arrival of the new crop due to delayed Monsoon

CMP: 9080

last year keeps overall market sentiments very strong. Reports of damage to standing crop in TN,

Initiation Level:

AP and Maharashtra also attributed to the prices getting strong support here around 8000 level.

Above 9000

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

Book Profit (Level 1):

in Telangana at a heavy pace of around 5500-6,500 bags (1 bag = 70 kg). This is due to lack of

9300

sunlight as low temperature and cold wave situation. As per reports from Spice Board of India,

Book Profit (Level 2):

the estimated exports of Turmeric during April-December 2013 was pegged at 58000 MT, up by

9650

17% same period previous year. In value terms, it was up by 45% at Rs 463.8 Cr. However, major

Stop Loss: Below 8800

weakness is seen only if prices rupture support of 8500 could see downside bias towards 8280

Conviction Level:

followed by 8040 that could negate present uptrend in the near term.

Moderate Risk.
Reasoning. (Read
Technical

Hence, we recommend buy around 9000 could see upside bias towards 9300 followed by 9600
for the week.

commentary).
Short term Trend:
Bullish.
Medium Term Trend:
Bullish.
For the Traders: BUY
For Aggressive
Traders: BUY
Support: 8980-87008500
Resistance-92009280-9500
Duration: 4-5 Days
Recommendation:On the basics of technical
and fundamental analysis
we are Recommending to
BUY Tmc Apr around
(9000) with the Stop Loss
of 8800 for the Target of
9300 and 9600.
TMC APR DAILY TECHNICAL CHART

JEERA MAR NCDEX

Date and Time

23/Feb/2015
STOCK: JEERA

Jeera Mar NCDEX: Bullish wave continue in Jeera Mar contract, prices rebounded firmly from

Mar

the support of 13875 levels on dated 12 February 2015, made high of 15655 levels dated 19

Call: BUY

February 2015 and finally closed higher at 15250 levels in previous week. besides, the increase

CMP: 15250

in OI may resume strong upside rallies in the next couple of days, as prices cleared the uptrend

Initiation Level: Above

line resistance of 14500 for the see upward move to 15200 followed by 16050 or even lower to

15600

16680 levels in the near term. Jeera as overall Fundamentals remained strong. Latest report

Book Profit (Level 1):

from Spice Board of India indicates pickup in exports during April-Sept 2014 period at 87500

15950

tonnes (up from 70243 in April-Sept 2013)

Book Profit (Level 2):

Higher arrivals of new crop however prevented resuming strong uptrend. Lower sowing area

16400

and good export demand are however likely to keep long term sentiments Bullish. The exports

Stop Loss: Below 15000

Conviction Level:

are likely to slow down, Good domestic and export demand along with forecast of a 23% drop
in productivity could also support prices in the near term. Improved export demand amidst

Moderate Risk.

firmness in Dollar vs Re supported the prices. On the other side, if prices breach the support of

Reasoning. (Read

13800 could turn the outlook into negative territory in the near term.

Technical commentary).
Short term Trend:
Bullish.

Hence, we recommend buy above 15600 could see upward bias towards 15950 followed by
16400 for the week.

Medium Term Trend:

Bullish.
For the Traders: BUY
For Aggressive Traders:
BUY
Support: 15000-1470014500
Resistance-1530015580-16100
Duration: 4-5 Days
Recommendation:On the basics of Technical
and fundamental analysis
we are Recommending buy
Jeera FEB around 15200
13700 for the target of
15600 16200 with a strict
a stop loss of 14700.

JEERA MAR DAILY TECHNICAL CHART

CCHATECHNICALCHART

CHANA APR NCDEX

Date and Time

23/Feb/2015
STOCK: CHANA APR
NCDEX

Call: SELL
CMP: 3670
Initiation Level:
Around 3750
Book Profit (Level 1):
3650
Book Profit (Level 2):
3520
Stop Loss: Above 3820
Conviction Level:
Moderate Risk.

Chana Apr NCDEX: Chana Apr prices melt like ice in previous couple of days from the high
of 3734 dated 19 February 2015, made low of 3650 level dated 20 February 2015 and finally
closed at 3670 levels in previous week, as pickup domestic market demand kept trend up.
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. Demand will pick up as skies clear. High Pulses stocks and bearishness in
International markets kept pressure on the domestic market sentiments. But a fall in Rabi
sowing area for Rabi Pulses and lower International production prospects could support prices
in medium to long term. Prices are however at strong Support level of 3600 for April 2015
contract. As per 1st Advanced crop estimates for 2014-15 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 2013-14.
Hence, we recommend sell on rise around 3750 could see downward bias towards 3650
followed by 3520 for the week.

Reasoning. (Read
Technical commentary).
Short term Trend:
Bearish.
Medium Term Trend:
Bullish.
For the Traders: SELL
For Aggressive
Traders: SELL
Support: 3650-35803500
Resistance-3740
3790-3840
Duration: 4-5 Days
Recommendation:On the basics of Technical
and fundamental analysis
we are Recommending sell
on rise Chana Apr NCDEX
around 3750 for targets of
3620 3530 with a strict a
stop loss of above 3840.
CHANA APR DAILY TECHINICAL CHART

TECHNICAL LEVELS

CHANA (Apr)
Trend
Strategy
Resistance
Support

BULLISH
SELL ON RISE
3790
3700
3620
3530

DHANIYA (Apr)
Trend
Strategy

BEARISH
SELL ON RISE

CASOTOR SEED (Mar)

Trend
Strategy

BEARISH
BUY ON DEEPS

Resistance

4050
3930

Support

3740
3630

JEERA (Mar)
Trend
Strategy

BULLISH
BUY ON DEEPS

Resistance

7130
6900

Resistance

16200
15600

Support

6480
6150

Support

14800
14500

TURMERIC (Apr)
Trend
Strategy

BULLISH
BUY ON DEEPS

SYBEAN (Apr)
Trend
Strategy

CONSOLIDATE
BUY ON DEEPS

Resistance

9380
9250

Resistance

3560
3450

Support

9000
8770

Support

3360
3300

RM SEED (Apr)
Trend
Strategy

CONSOLIDATE
BUY ON DEEPS

SYOIL (Apr)
Trend
Strategy

BULLISH
BUY ON DEEPS

Resistance

3470
3400

Resistance

615
608

Support

3350
3290

Support

588
579

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Sincere efforts have been made to present the right investment perspective. The information
contained herein is based on analysis and on sources that we consider reliable. We, however, do
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