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AGRI WRAP
TURMERIC
Turmeric futures fell because of profit-taking although the downside was limited due to weak
monsoon rains over the southern parts of India, mainly Andhra Pradesh. The key August
contract finished down 1.7 percent at 6,668 rupees per 100 kg on the NCDEX.
TURMERIC (AUGUST) DAILY CHART
TURMERIC (AUGUST) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 6430,
SUPPORT 2: 6316,
RESISTENCE 1: 6728,
RESISTENCE 2: 6830.
STRATEGY: BUY ON DIPS
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SOYABEAN
Soybean futures recovered towards the end of the trading session on fresh buying. Planting
delays in the central part of the country also supported prices. Rapeseed futures also rose in
line with soybeans. India's monsoon rainfall was 53 percent below average for the week ended
July 2, the fourth straight week of poor rains after a delayed onset. The key October soybean
contract edged up 1.04 percent to 3788 rupees per 100 kg, while the August rapeseed contract
rose 0.28 percent to 3,545 rupees per 100 kg.
SOYABEAN (AUGUST) DAILY CHART
SOYABEAN (AUGUST) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1:3690,
SUPPORT 2: 3660,
RESISTENCE 1: 3870,
RESISTENCE 2: 3945,
STRATEGY: SELL ON RISE
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CHANA
India's chana, or chickpea, futures fell on Friday, as supplies picked up after government raids
against hoarders to ease market concerns over possible supply shortages. The August chana
contract fell 3.34 percent to 2807 rupees per 100 kg on the National Commodity & Derivatives
Exchange.
CHANA (AUGUST) DAILY CHART
CHANA (AUGUST) TECHNICAL VIEW:
TREND: BEARISH
SUPPORT 1: 2740,
SUPPORT 2: 2695,
RESISTENCE 1: 2840,
RESISTENCE 2: 2925.
STRATEGY: SELL ON RISE
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JEERA
Jeera, or cumin seed, futures edged higher due to an improvement in demand. The key August
contract rose 0.6 percent to 11,475 rupees per 100 kg.
JEERA (AUGUST) DAILY CHART
JEERA (AUGUST) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 11250,
SUPPORT 2: 11000,
RESISTENCE 1: 11700,
RESISTENCE 2: 11820.
STRATEGY: BUY ON DIPS
6. DAILY AGRI COMMODITY REPORT
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CAPITAL STARS FINANCIAL
RESEARCH PRIVATE LIMITED
PLOT NO. 12, SCHEME NO. 78, PART II
VIJAYNAGAR INDORE 452001 (MP)