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NCDEX Daily Agri Press Release Report by epicresearch 24st January 2014
MENTHAOIL FUTURE
last few days, dense fog and rains were hampering trading activities at the physical markets. Farmers are bringing lower quantities of produce to the physical mandis, which is leading to limited arrivals. However, trade sources are stating that the arrivals might increase in the coming days because farmers will ofload more stocks to the physical markets due to their financial needs. This scenario could pressurize mentha oil prices in the near-term. The overall bearish market sentiments are still intact.
TURMERIC FUTURE
Turmeric futures have consolidated at higher levels. Domestic and overseas demand coupled with crop concerns in Andhra Pradesh supported prices. However, huge carryover stocks coupled with arrivals of the new crop pressurize prices at higher level.
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.
JERRA FUTURE
Jeera sowing in Gujarat is reported to be complete and is said to be in good condition. Jeera futures are expected to trade on a positive note supported by fresh overseas demand. However, higher sowing and higher output expectations this season may cap sharp gains and pressurize prices.
SUGGESTION OF TODAY TRADING STRATEGY:
BUY CHANA FEB ABOVE 3075 TGT 3105,3155 SL 3025
SELL CHANA FEB BELOW 3020 TGTS 2990,2940 SL 3070
SUGGESTION OF TODAY TRADING STRATEGY:
BUY CASTORSEED FEB ABOVE 4320 TGTS 4350,4400 SL 4270
SELL CASTORSEED FEB BELOW 4140 TGTS 4110,4060 SL 4190
SUGGESTION OF TODAY TRADING STRATEGY:
BUY DHANIYA FEB ABOVE 8490 TGTS 8520,8570 SL 8440
SELL DHANIYA FEB BELOW 8340 TGTS 8310,8260 SL 8390
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