Turmeric September futures traded on a Surged up on Monday
(5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX).
Turmeric spice incresed by 4.00% to 8112 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 BULLISH
RESISTANCE 2: 8330,
RESISTANCE 1: 8220,
SUPPORT 1: 7900,
SUPPORT 2: 7680.
STRATEGY: BUY ON DIPS
The NCDEX Soyabean October futures Slipped by -0.16% in the
last trading to close at 3119 level till Monday 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: MIXED TO BEARISH
RESISTANCE 2:3150,
RESISTANCE 1: 3135,
SUPPORT 1: 3090,
SUPPORT 2: 3060.
STRATEGY: SELL ON RISE
Chana futures traded on a positive note on incresed demand on
Monday (5.00PM). Chana May l contract gained 3.20% to 4807 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 BULLISH
RESISTANCE 2: 4920,
RESISTANCE 1: 4860,
SUPPORT 1: 4700,
SUPPORT 2: 4600.
STRATEGY: BUY ON DIPS
The NCDEX Dhaniya September futures Surged up by 1.21% in the
last trading to close at 10785 level on Monday. 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 BULLISH
RESISTANCE 2: 10970,
RESISTANCE 1: 10870,
SUPPORT 1: 10630,
SUPPORT 2: 10480.
STRATEGY: BUY ON DIPS
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