Turmeric July futures traded on a slipped on Wednesday (5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric spiced by -0.54% to 8110 level at NCDEX. Turmeric futures traded lower on NCDEX on anticipation of good sowing in next season on forecast of good rains. Trend remained weak for Turmeric as higher arrivals amidst lack of strong export and domestic demand kept pressure on the prices.
TURMERIC (JULY) TECHNICAL VIEW:
TREND: MIXED TO BULLISH
RESISTANCE 2: 8240,
RESISTANCE 1: 8180,
SUPPORT 1: 8070,
SUPPORT 2: 8020.
STRATEGY: BUY ON DIPS
The NCDEX Soya bean July futures surged up by 0.34% in the last trading to close at 3847 level till Wednesday closing. The Soyabean futures edged lower on NCDEX as speculators trimmed their positions on lackluster domestic demand and bearish cues from the international markets. However, some losses were capped by lower supply in domestic market as farmers are set to reduce the area given over to soybean by 10% this year.
SOYABEAN (JULY) TECHNICAL VIEW:
TREND: MIXED TO BEARISH
RESISTANCE 2:3895,
RESISTANCE 1:3865,
SUPPORT 1: 3820,
SUPPORT 2: 3795.
STRATEGY: SELL ON RISE
Guarseed futures traded on a Positive note increased demand on Wednesday (5.00PM). Gaurseed July l contract gained 1.93% to 3113 levels. The export demand from European nations, the US and China was further hampered by the economic crisis in many of these nations. That led to a fall in export demand from these countries.
GAURSEED (JULY) TECHNICAL VIEW:
TREND: MIXED TO BULLISH
RESISTANCE 2: 3190,
RESISTANCE 1:3150,
SUPPORT 1: 3060,
SUPPORT 2: 3000.
STRATEGY: BUY ON DIPS
The NCDEX Dhaniya July futures surged up by 2.01% in the last trading to close at 7220 level on Wednesday. Coriander futures traded higher on NCDEX as speculators built up fresh positions, tracking improved demand at the spot market. Besides, limited arrivals from major producing belts also added support to coriander prices’ uptrend.
DHANIYA (JULY) TECHNICAL VIEW:
TREND: MIXED TO BULLISH
RESISTANCE 2: 7350,
RESISTANCE 1: 7280,
SUPPORT 1: 7130,
SUPPORT 2: 7040.
STRATEGY: BUY ON DIPS
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