NCDEX TURMERIC April futures traded on a negative note on Friday. NCDEX Turmeric spice easied by -3.58% to 7978 level on Friday (5.00pm) at .Lack of strong demand amidst higher arrivals in the mandis kept trend weak for Turmeric.However with demand likely to rise in coming weeks at these lower levels, it could support the falling rates to some extent.
CS TURMERIC (APRIL) LEVELS
RESIST 2:8430 || RESIST 1:8230
SUP1:7900 || SUP2:7760
STRATEGY: SELL ON RISE
The NCDEX SOYABEAN February futures consolidate by 2.13% in the last trading to close at 3404 level till Friday closing.Pick up in demand amidst expected clear skies could support the market sentiments for Soybean this week after the recent fall in rates. However bearishness in International markets prevented strong uptrend even as good demand in domestic markets persisted. Higher projections for global production could however keep a tap on the rising rates.
CS SOYABEAN (FEBRUARY) LEVELS
TREND MIXED TO BULLISH
RESIST 2:3460 || RESIST 1:3430
SUP1:3355 || SUP2:3300
STRATEGY: BUY ON DIPS
NCDEX CHANA futures traded on a positive note on incresed demand on Friday. Chana January contract gained 2.37% to 3497 levels on Friday(5.00PM). recovery could be noted for Chana as rains in the growing states continued to pressurize market sentiments. Rains in growing areas in Rajasthan, MP and UP are reportedly beneficial for the standing crop.
CS CHANA (FEBRUARY) LEVELS
TREND BULLISH
RESIST 2:3580 || RESIST 1:3540
SUP1:3435 || SUP2:3370
STRATEGY: BUY ON DIPS
The NCDEX DHANIYA April futures surged by 0.49% in the last trading to close at 7845 level on Friday. Sentiment weakened further as speculators reduced their positions on the back of sluggish demand in the market. Dhaniya is common in South Asian Middle Eastern Central Asian Mediterranean Indian Tex-Mex Latin American Portuguese Chinese African and Scandinavian.
CS DHANIYA (APRIL) LEVELS
TREND MIXED TO BULLISH
RESIST 2:7950 || RESIST 1: 7890
SUP1:7740 || SUP2:7640
STRATEGY: BUY ON DIPS
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