NCDEX Daily Agri Press Release Report by epicresearch 21 st January 2014
SOYABEAN FUTURE
Soybean futures may trade on a positive note. Fresh meal export demand and positive overseas markets may Support prices. However, higher South American crop prospects may cap gains and pressurize prices. Prices may also take cues from the Rupee movement.
TURMERIC FUTURE
Prices seem to find some strong support at these levels even as low trading activities prevented any strong upside movement for the commodity. With new crop arrivals there, the uptrend has been limited. Traders however anticipate present rates are very low and some more recovery cannot be ruled out in coming days once exports start picking up again.
CHANA FUTURE
Chana futures are expected to trade on a mixed to negative note today. However, higher sowing, favorable climatic conditions as well as comfortable supplies may pressurize prices. Commencement of arrivals of the new crop may add to the downside pressure. However, weather concerns in north India and pickup in demand may support prices at lower levels. Prices are trading near the MSP levels, thus, no major downside is expected.
SUGGESTION OF TODAY TRADING STRATEGY:
BUY CHANA JAN ABOVE 3090 TGTS 3120,3170 SL 2960
SELL CHANA FEB BELOW 3050 TGTS 3020,2970 SL 3100
SUGGESTION OF TODAY TRADING STRATEGY:
BUY CASTORSEED FEB ABOVE 4380 TGTS 4410,4460 SL 4330
SELL CASTORSEED FEB BELOW 4315 TGTS 4285,4235 SL 4365
SUGGESTION OF TODAY TRADING STRATEGY:
BUY DHANIYA FEB ABOVE 8190 TGTS 8220,8270 SL 8140
SELL DHANIYA FEB BELOW 8090 TGTS 8070,8020 SL 8140
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