AGRI COMMODITY MARKET LEVELS FOR 27 JULY 2015

Turmeric Aug futures traded on a slipped on Friday(5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric spice decresd by -2.46% to 6832 level at NCDEX.The sowing of the crop is expected to pick up gradually as rains in growing areas in Andhra Pradesh and Tamil Nadu keep possibilities of improved sowing. This is keeping sentiments weak for the counter in the near term. But with prices having fallen a lot, some bounce back too is possible.

CS TURMERIC TIPS 

TREND:MIXEDTO BEARISH

RESISTANCE 2:7110,

RESISTANCE 1:6970,

SUPPORT1:6750,

SUPPORT2:6680.

STRATEGY:SELL ON RISE

The NCDEX Soyabean August futures Surged up by 0.73% in the last trading to close at 3310 level till Friday closing. Informa Economics had earlier lowered their projection of US soybean plantings for 2015/16 at 86.76 million acres from previous estimate of 87.185 million acres. However Informa’s current estimate remains higher versus USDA’s 84.635 million acres.

CS SOYABEAN TIPS

TREND:MIXED TOBEARISH

RESISTANCE 2:3370,

RESISTANCE 1:3340,

SUPPORT1:3255,

SUPPORT2:3205.

STRATEGY:SELL ON RISE

Chana futures traded on a positive note on incresed demand on Friday(5.00PM).Chana May lcontract gained 1.15% to 4645 levels. Prospects of improved Monsoon and Cabinet meeting on price rise in Agri commodities likely to be held this week, kept sentiments down for Chana as it failed to hold onto the higher levels.The short term sentiments look weak for the counter as sowing picks up further for kharif Pulses.

CS CHANA TIPS 

TREND:MIXED TOBEARISH

RESISTANCE 2:4715,

RESISTANCE 1:4680,

SUPPORT1:4570,

SUPPORT2:4510.

STRATEGY:SELL ON RISE

The NCDEX Dhaniya August futures surged up by 0.11% in the last trading to close at 12975 level on Friday. Special Margin of 10% (in cash) on the Long side will be imposed on all running contracts and yet to be launched contracts in Coriander (DHANIYA) with effect from beginning of day Wednesday, June 03, 2015.

CS DHANIYA TIPS

TREND:MIXED TO BEARISH

RESISTANCE2:12100,

RESISTANCE 1:12040,

SUPPORT1:11890,

SUPPORT2:11800,

STRATEGY:SELL ON RISE

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