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NCDEX Daily Agri Press Release Report by epicresearch 21th February 2014
TURMERIC FUTURE
Turmeric futures may trade on a mixed negative note on expectations of arrivals to gain momentum in the coming days. Good demand in the physical markets coupled with crop concerns in Andhra Pradesh may restrict sharp fall in the prices.
SOYABEAN FUTURE
Soybean futures may trade on a positive note. Lower arrivals, positive overseas markets and dry weather in Brazil may
support prices. However, sluggish domestic demand coupled with prospects of higher output in South America may cap
sharp gains. Prices may also take cues from movement in the Indian Rupee.
MENTHAOIL FUTURE
The fundamentals are bearish for Mentha oil so spot prices are still maintaining lower and the bulk buyers are also less in the market. At the futures market, February contract showed a marginal gain in prices along with higher volume while open interest fell. This indicates price rise could be a short covering phase which may sustain for a while. For the day we believe futures prices might advance a tad however, we need to closely watch the today’s spot market
activities.
CHANA FUTURE
Chana futures are expected to trade with a negative bias. Comfortable supply situation as well as higher output estimates may pressurize prices. However, Reports that the state government may intervene and start procuring pulses at MSP coupled with higher pulses exports data may support prices.
SUGGESTION OF TODAY TRADING STRATEGY:
BUY CHANA APR ABOVE 3000 TGTS 3020,3060 SL 2960
SELL CHANA APR BELOW 2980 TGTS 2960,2920 SL 3020
SUGGESTION OF TODAY TRADING STRATEGY:
BUY CASTORSEED MAR ABOVE 4200 TGTS 4230,4280 SL 4150
SELL CASTORSEED MAR BELOW 4140 TGTS 4110,4060 SL 4190
SUGGESTION OF TODAY TRADING STRATEGY:
BUY DHANIYA APR ABOVE 9020 TGTS 9050,9100 SL 8970
SELL DHANIYA APR BELOW 8930 TGTS 8900,8850 SL 8980
