2. NCDEX DAILY Newsletter 4
AGRI COMMODITY DAILY WRAP UP…..!!!!
MENTHAOIL FUTURE
In menthaoil no major domestic demand and export cues are being noticed. beside this, the change in the arrivals pattern
is further weighing on market sentiments. As the sowing is close to completion, farmers are willing to offload their
holding stocks. However, concerns over the carryover stocks are still persisting because most of the carry forward stocks
are with local stockists who are reluctant to sell their stocks due to the current price trend. We feel that the increase in
supply from farmers coupled with the sluggish demand might pressurize mentha oil prices further.
CHANA FUTURE
Chana futures are expected to trade on a negative note today. Good sowing reports from MP, UP and Rajasthan amidst
high stocks, rise in imports and fall in demand have pressurized Chana rates for last few months. As per ministry of
Agriculture reports, sown area for Rabi Pulses is projected at a record high 16.2 million. Significant improvement in yield
to move above 900kg/ha was also possible due to conducive weather.
JEERA FUTURE
Jeera futures are expected to trade lower due to selling pressure as arrivals of the new crop are rising sharply in spot
markets. The off take is likely to remain limited due to expectation of high output on significant rise in sowing. However,
expectations of pick up in export may limit sharp fall in prices. As per the latest data by Gujarat Agriculture Board, total
acreage of jeera in the state has been increased by 1.05 lakh hectares from the last year to 4.54 lakh hectares. Traders
estimated that total production of jeera is likely to increase by 10 lakh bags to around 46 lakh bags in the current year.
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NCDEX DAILY TECHNICAL LEVELS
DHANIYA HOURLY CANDLESTICK CHART
Dhaniya daily chart shows bullish trend. once again dhaniya fall form upper level. RSI is in mid range. Expecting from here onwards profit
booking will continue in up comming trading session. Immediate support @ 9520 & Immediate resistance @ 9630.
R1-9697 R2-9809 S1-9490 S2-9395
TRADING STRATEGY:
BUY DHANIYA MAY ABOVE 9630 TGTS 9660,9710 SL 9580
SELL DHANIYA MAY BELOW 9520 TGTS 9490,9440 SL 9570
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4. NCDEX DAILY Newsletter 4
NCDEX DAILY TECHNICAL LEVELS
GUARSEED HOURLY CANDLESTICK CHART
Guarseed apr short term trend looking sideways to bearish in daily chart. Momentum indicators RSI is above mid range,expecting may
go up, In intraday basis immediate support @ 4840 & immediate resistance @ 4980.
R1-4995 R2-5050 S1-4830 S2-4720
ITRADING STRATEGY:
TRADING STRATEGY:
BUY GUARSEED MAY ABOVE 4980 TGTS 5010,5060 SL 4930
SELL GUARSEED MAY BELOW 4840 TGTS 4810,4760 SL 4890
ER
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5. NCDEX DAILY Newsletter 4
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6. NCDEX DAILY Newsletter 4
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