Turmeric September futures traded on a Surged up on Thursday
(5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX).
Turmeric spice incresed by 0.32% to 8060 level at NCDEX. As per Telengana
Agricultural Department, till 29th July, around 36K ha area has been sown under
turmeric vs 37K ha same time last year. Total 50,000 ha area is covered.
Moreover, in AP, around 6100 ha area has been seeded till date vs 6K ha last
year. During 2014-15, India exported around 86K tons which is higher by 8500
tons than last year. In 2013-14, around 77500 tons was exported. Masala Board
has fixed a target for export of 80K tons for 2014-15.
TURMERIC (SEPTEMBER) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 8400,
RESISTANCE 1: 8220,
SUPPORT 1: 7920,
SUPPORT 2: 7780.
STRATEGY: SELL ON RISE
The NCDEX Soya bean October futures Surged up by 0.64% in
the last trading to close at 3134 level till Thursday closing. SOYABEAN : -
Timely planting and sufficient rains through most of July in the major grain
producing states is likely to support MY 2015/16 Kharif grain production
prospects. However, sufficient rains throughout August and September will be
critical for achieving forecast normal yields. The inputs provided by the USDA
report on August 12 were negative and had pressured price levels of US soy
complex on the same day.
SOYABEAN (OCTOBER) TECHNICAL VIEW:
TREND: CONSOLIDATE
RESISTANCE 2:3175,
RESISTANCE 1: 3155,
SUPPORT 1: 3110,
SUPPORT 2: 3080.
STRATEGY: SELL ON RISE
Chana futures traded on a positive note on decreased demand
on Thursday (5.00PM). Chana May l contract gained 0.53% to 4760 levels. CHANA :
- Sowing of pulses in Maharashtra has been done in 66% area of fixed target of
24.50 lakh ha, which is up from last year’s sowing area. Around 9.3 lakh ha
area has been sown under Tur vs 9 lakh ha last year. Meanwhile, Moong has been
sown in 3.33 lakh ha and urad in 2.42 lakh ha while its sowing target has been
fixed 5.60 lakh ha and 5.10 lakh ha respectively. Sowing of both commodities
are ahead from its scheduled.
CHANA (SEPTEMBER) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 4855,
RESISTANCE 1: 4805,
SUPPORT 1: 4720,
SUPPORT 2: 4675.
STRATEGY: SELL ON RISE
The NCDEX Dhaniya September futures Surged up by 0.28% in
the last trading to close at 10750 level on Thursday. 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.
DHANIYA (SEPTEMBER) TECHNICAL
VIEW: TREND: MIXED TO BEARISH
RESISTANCE 2: 10880,
RESISTANCE 1: 10810,
SUPPORT 1: 10660,
SUPPORT 2: 10570.
STRATEGY: SELL ON RISE
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