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CAPITALSTARS FINANCIAL RESEARCH PVT. LTD.

AGRI DAILY REPORT

14 FEB 2018

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AGRI WRAP
TURMERIC
The NCDEX Turmeric Apr futures is slipped by -0.11% in the last trading to close at 7270 level till
Tuesday closing at India's National Commodity & Derivatives Exchange (NCDEX).

Turmeric on NCDEX settled down by -0.62% at 7104 on profit booking after prices seen
supported as new crop supplies have not picked up in various producing centres. The overall
production in the major states has been estimated to be down by 25-30% which is limiting the
downside. Turmeric prices are likely to rule easy in the coming as supplies for new crop would
increase. Arrivals in Nizamabad stood at 20,000 and bulb variety was traded at Rs 6,000-6,500
per quintal while finger variety changed hands at Rs 6,500-7,400 a quintal. Turmeric output is
seen lower because farmers planted on lower area due to weak prices. New crop supplies have
started in the markets of Maharashtra, Tamil Nadu, Odisha, and Andhra Pradesh but in limited
quantity. India's turmeric export during April-September remained flat 59,000 ton, showed
Spices Board data.
TURMERIC (APR) DAILY CHART

TURMERIC (APR) TECHNICAL VIEW:

TREND: SIDEWAYS
RESISTANCE 2: 7470
RESISTANCE 1: 7370
SUPPORT 1: 7200
SUPPORT 2: 7120
STRATEGY: BUY ON DIPS

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guarantee of future performance.
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SOYABEAN
The NCDEX Soyabean Feb futures surged up by 0.74% in the last trading to close at 3818 level
till Tuesday closing.

Positive inputs from the 2018-19 Union Budget session shall keep soybean in near term but in
short term, moderate decline is possible since fresh buying interest in physical market shall
emerge only after a 50- 100 rupee fall, as per trade sources. Possibility of rise in delivery
quantities against the February contract expiry will be another bearish factor. Overall view will
be positive as per broad based fundamentals. March soybean is likely to find strong support
between 3500-3550 in the current month. India’s harvest season, subdued export demand for
soymeal and estimations of sufficient amount of inventory lying with stockists had been
capping the upside just few months, back, but as parity in exporting Indian soymeal has re-
established and harvest season nears completion, any sharp fall is ruled out.

SOYABEAN (MARCH) DAILY CHART

SOYABEAN (MARCH) TECHNICAL VIEW:

TREND: BULLISH
RESISTANCE 2: 3950
RESISTANCE 1: 3880
SUPPORT 1 : 3780
SUPPORT 2: 3750
STRATEGY: BUY ON DIPS

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guarantee of future performance.
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GUARSEED
The NCDEX Guarseed Feb futures is slipped by -1.22% in the last trading to close at 4442 level
till Tuesday closing.

Rising crude oil prices, firmness in Dollar vs Re and pickup in exports at these lower levels—all
these factors supported Guar prices. Moving forward, guarseed is likely to touch 5000 and find
immediate strong resistance there, while guar gum breaks levels of 10000. Upward trend is
expected in medium term also because of rising concerns on production front from recent crop
losses, due to excess rains in Rajasthan, just few months back. Lowering inventories will be
another bullish factor. The new crop arrivals shall drop further thereby offering further support.
Increased exports of guar gum during last year have been encouraging due to increasing rig
count in the US. As per reports from APEDA, improved export demand of guar has been noted.

GUARSEED (MARCH) DAILY CHART

GUARSEED (MARCH) TECHNICAL VIEW:

TREND: BEARISH
RESISTANCE 2: 4560
RESISTANCE : 4500
SUPPORT 1: 4400
SUPPORT 2 : 4360
STRATEGY: SELL ON RISE

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guarantee of future performance.
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JEERA
The NCDEX Jeera March futures is slipped by -1.98% in the last trading to close at 16095 level
on Tuesday.

Jeera on NCDEX settled up by 0.78% at 16720 on short covering after prices dropped due to
hopes of bumper output on the back of favourable weather conditions and higher sowing. Jeera
sowing in Gujarat jumped to 382,600 hectare from 286,030 hectare a year ago, according to
data from Gujarat Agriculture Department. Jeera sowing in Rajasthan-the other producing
state-is also stated to be higher. New jeera crop supplies have commenced in the markets of
Gujarat and may pick up in the coming days putting pressure on prices. During April-September
2017, India's jeera exports jumped 16% to 79,460 ton as per data from Spices Board. According
to farmer estimates, jeera production in Gujarat was estimated at around 2.75 lakh tonnes
(approximately 50 lakh bags weighing 55 kg each) last year, which is likely to touch 4.12 lakh
tonnes this year.

JEERA (MARCH) DAILY CHART

JEERA (MARCH) TECHNICAL VIEW:

TREND: BEARISH
RESISTANCE 2: 16760
RESISTANCE 1: 16430
SUPPORT 1: 15930
SUPPORT 2: 15750
STRATEGY: BUY ON DIPS

Investment & trading in securities market is always subjected to market risks, past performance is not a
guarantee of future performance.
 CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

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