Turmeric April futures traded on a Slipped on Thursday (5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric spice decreased by -5.10% to 8230 level at NCDEX. No strong movement was noted for Turmeric as lack of strong demand kept uptrend limited. Traders expect the export and domestic demand to rise. But prospects of rising new crop arrivals in coming weeks may limit the uptrend also. In Telangana, the turmeric crop is at vegetative to flowering stage, sources said that due to recent rainfall in Tamil Nadu.
TURMERIC (APRIL) TECHNICAL VIEW:
TREND: MIXED TO
BEARISH
RESISTANCE 2: 8920,
RESISTANCE 1: 8570,
SUPPORT 1: 8000,
SUPPORT 2:
7800.
STRATEGY: SELL ON RISE
The NCDEX Soya bean February futures slipped by -1.21% in
the last trading to close at 3762 level till Thursday closing. The broader term
price outlook is not so bearish considering lower production prospects for year
2015-16. Poor soybean yields in India prompted the USDA to lower its 2015/16
crop forecast by 1.5 MT this month to 9.5 million. Since production of a record
2012/13 harvest at 12.2 MT, Indian soybean crops have been beset by a
succession of unfavorable growing conditions. Monsoon rains in Aug decreased
for the top production regions.
SOYABEAN (FERUARY) TECHNICAL VIEW:
TREND: MIXED
TO BEARISH
RESISTANCE 2:3830,
RESISTANCE 1:3790,
SUPPORT 1: 3740,
SUPPORT 2: 3720.
STRATEGY: SELL ON RISE
Chana futures traded on a Negative note decreased demand on
Thursday (5.00PM). Chana May l contract lost -0.51% to 4253 levels. Firm trend
persisted for Chana on reports of Govt purchase and rising domestic demand
amidst lower stocks in mandis. The uptrend got limited on prospects of rains in
MP in coming days as that could have beneficial impact on sowing. Persistent
concerns regarding government’s continuous efforts to keep price rise in check
too kept rising rates under check as prices hovered near the 5000 mark.
CHANA (APRIL) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 4325,
RESISTANCE 1:4290,
SUPPORT 1: 4220,
SUPPORT 2: 4180.
STRATEGY: SELL ON RISE
The NCDEX Dhaniya April futures Slipped by -1.38% in the
last trading to close at 6625 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 (APRIL) TECHNICAL
VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2: 6880,
RESISTANCE 1: 6750,
SUPPORT
1: 6480,
SUPPORT 2: 6340.
STRATEGY: SELL ON RISE
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