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NCDEX Daily Agri Press Release Report by epicresearch 07 st February 2014
JEERA FUTURE
Jeera futures are seen bearish on subdued demand from bulk buyers and on forecast of record output. Currently, there has been no report of damage to the standing jeera crop despite of rains in Gujarat and Rajasthan. As per Gujarat agriculture department, jeera has been sown in 454300 hectares so far in the state, up 40 percent from a year ago period.
GUARSEED FUTURE
After the recent continuous fall in rates, Guarseed recovered strongly as export queries started picking up at these lower levels. High stocks however could keep uptrend limited in the long term. A strong Dollar vs Re could aide in the exports favorably. Prices are finding some very strong Support at the 4000 levels in Futures market.
SOYABEAN FUTURE
Soybean futures may trade on a mixed note. Higher spot prices as well as some recovery in the overseas markets may support prices. However, an increase in the arrivals as well as higher output in South America crop prospects may cap gains and pressurize prices at higher levels.Prices may also take cues from the Rupee movement.
TURMERIC FUTURE
Turmeric futures are expected to trade on a positive note. Good demand in the physical markets coupled with crop concerns in Andhra Pradesh is likely to support prices. However, arrivals of the early new crop and huge carryover stocks may cap sharp gains.
SUGGESTION OF TODAY TRADING STRATEGY:
BUY CHANA FEB ABOVE 2855 TGTS 2875,2915 SL 2815
SELL CHANA FEB BELOW 2790 TGTS 2770,2730 SL 2830
SUGGESTION OF TODAY TRADING STRATEGY:
BUY CASTORSEED FEB ABOVE 4050 TGTS 4080,4130 SL 4000
SELL CASTORSEED FEB BELOW 3975 TGTS 3945,3895 SL 4025
SUGGESTION OF TODAY TRADING STRATEGY:
BUY DHANIYA FEB ABOVE 8235 TGTS 8265,8315 SL 8185
SELL DHANIYA FEB ABOVE 8095 TGTS 8065,8015 SL 8145
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