Turmeric October futures traded on a Slipped up on Tuesday
(5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX).
Turmeric spice decresed by -4.00% to 7628 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: 8070,
RESISTANCE 1: 7850,
SUPPORT 1: 7520,
SUPPORT 2: 7400.
STRATEGY: SELL ON RISE
The NCDEX Soya bean October futures Surged up by 0.31% in
the last trading to close at 3236 level till Tuesday 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 2:3270,
RESISTANCE 1: 3250,
SUPPORT 1: 3220,
SUPPORT 2: 3200.
STRATEGY: BUY ON DIPS
Chana futures traded on a negative note decreased demand on
Tuesday (5.00PM). Chana May l contract gained -2.74% to 4435 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: 4625,
RESISTANCE 1:4530,
SUPPORT 1: 4380,
SUPPORT 2: 4320.
STRATEGY: SELL ON RISE
The NCDEX Dhaniya October futures Slipped by -0.69% in the
last trading to close at 11135 level on Tuesday. 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 BULLISH
RESISTANCE 2: 11300,
RESISTANCE 1: 11200,
SUPPORT 1: 11050,
SUPPORT 2: 10950.
STRATEGY: BUY ON DIPS
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According to Epic Research, Turmeric trading range for the day is 7406-8070. We are also providing all Agri and Commodity Tips for investors.
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