Turmeric September futures traded on a Slipped on Wednesday (5.00pm) at India's National
Commodity & Derivatives Exchange (NCDEX). Turmeric spice deresed by -3.23% to 8030 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 201415.
TURMERIC (SEPTEMBER) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 8380,
RESISTANCE 1: 8200,
SUPPORT 1: 7930,
SUPPORT 2: 7835.
STRATEGY: SELL ON RISE
The NCDEX Soyabean October futures Slipped up by -1.33% in the last trading to close at 3111
level till Wednesday 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 2:3170,
RESISTANCE 1: 3140,
SUPPORT 1: 3100,
SUPPORT 2: 3070.
STRATEGY: SELL ON RISE
Chana futures traded on a negative note on decresed demand on Wednesday (5.00PM). Chana
May l contract lossed -1.83% to 4731 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: 4915,
RESISTANCE 1: 4820,
SUPPORT 1: 4670,
SUPPORT 2: 4600.
STRATEGY: SELL ON RISE
The NCDEX Dhaniya September futures Slipped by -1.69% in the last trading to close at 10742
level on Wednesday.
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: 10950,
RESISTANCE 1: 10820,
SUPPORT 1: 10620,
SUPPORT 2: 10550.
STRATEGY: SELL ON RISE
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