Turmeric October futures traded
on a Slipped on Monday(5.00pm) at India's National Commodity & Derivatives
Exchange (NCDEX). Turmeric spice decreased by -1.09% to 8004 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 (OCTOBER) TECHNICAL
VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 8220,
RESISTANCE 1: 8110,
SUPPORT
1: 7930,
SUPPORT 2: 7860.
STRATEGY: SELL ON RISE
The NCDEX Soya bean October
futures Slipped by -0.25% in the last trading to close at 3193 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 BULLISH
RESISTANCE 2:3250,
RESISTANCE 1: 3220,
SUPPORT 1:
3160,
SUPPORT 2: 3140.
STRATEGY: BUY ON DIPS
Chana futures traded on a
negative note decreased demand on Monday (5.00PM). Chana May l contract loosed
-4.00% to 4374 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 (OCTOBER) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 4590,
RESISTANCE 1:4480,
SUPPORT 1: 4320,
SUPPORT 2: 4270.
STRATEGY: SELL ON RISE
The NCDEX Dhaniya October futures
Slipped by -1.47% in the last trading to close at 11090 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 (OCTOBER) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 11200,
RESISTANCE 1: 11080,
SUPPORT 1:
10860,
SUPPORT 2: 10780.
STRATEGY: SELL ON RISE
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