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03 MAR.2014

Analyst speaks:Oil and Oil Seed price higher On high buying activity

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MARKET WRAP
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1.85

NCDEX Chana up by 1.48% on strong demand:- NCDEX Chana April contract closed up on Friday and registering profit of 1.48% Open:3141,High:3211,Low:3141 ,Close:3164. NCDEX Catorseed down by 1.65% on Weak demand:-NCDEX Castorseed March contract is closed down by 1.65% on Friday. NCDEX RMseed: - NCDEX RMseed March contract is closed up by 1.51% on Friday.

NCDEX Turmeric: - NCDEX Turmeric April contract closed

@6910 down by 1% on Friday. Open: 6990, High: 7090, Low: 6852 Close: 6910.

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DAILY MARKET UPDATE

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COMMODITY

P.CLOSE

LAST CLOSE

NET CHANGE % CHANGE

SOYABEAN (20 Mar.2013)

4193.00

4169.00

-24.00

-0.57

REFINED SOYA OIL (20 Mar.2013)

717.45

717.40

-0.05

-0.01

DHANIYA (18 Apr.2013)

9304.00

9386.00

82.00

0.88

JEERA (20 Mar.2013)

11542.00

11500.00

-42.00

-0.36

TURMERIC (18 Apr.2013)

6980.00

6910.00

-70.00

-1.00

CHANA (20 Feb.2013)

3118.00

3164.00

46.00

1.48

GUARSEED (20 Mar.2013)

4720.00

4655.00

-65.00

-1.38

GUARGUM (20 Mar.2013)

12920.00

12730.00

-190.00

-1.47

CASTORSEED(20 Mar.2013)

4188.00

4119.00

-69.00

-1.65

RMSEED (18 Apr.2013)

3460.00

3512.00

52.00

1.50

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INTRADAY VIEW
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Soybean (Mar.) and Soy Oil (Mar.):- soybean and soy oil futures are exhibiting negative sentiments due to profit booking at higher levels. However, both commodities are expected to remain positive for near term by marriage season demand, according to our analyst at TheEquicom.

Chana (Apr.)- Technically, the trend in NCDEX Chana April delivery looks positive and further upside is expected from current levels. Resistance: 3240.3285 Support: 2975, 2925.

NCDEX Dhaniya (Apr.):-NCDEX Dhaniya for April contract may trade positive on next trading session. Resistance: 9585, 9650 Support: 9040, 8920. NCDEX April Turmeric :-NCDEX April Turmeric prices has been trading in bullish trend .On weekly chart prices has formed Bearish Engulfing formation which is leaving some negative signs, however , this week closing will confirm the trend reversal

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TECHNICAL OUTLOOK `

SOYABEAN (20 Mar.)

TREND STRATEGY RESISTANCE
CONSOLIDATE BUY ON DIPS
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4225 4270 3925 3885

SUPPORT

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Turmeric (18 April.)

TREND STRATEGY RESISTANCE SUPPORT
CONSOLIDATE SELL ON HIGH 7095 7240 6620 6575

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CHANA (18 April.)

TREND STRATEGY
CONSOLIDATE BUY ON DIPS 3195 3245 2975 2925

RESISTANCE

SUPPORT

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Refined soya oil (20 Mar.)

TREND STRATEGY RESISTANCE
CONSOLIDATE BUY ON DIPS 722 726 671 664

SUPPORT

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SUPPORT RESISTANCE
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COMMODITY JEERA UNJHA

CONTRACT March

RESISTANCE R1:13810 R2:13985

SUPPORT S1:11280 S2:11150 S1:4020 S2:2980 S1:4000 S2:3935

TREND BEARISH

STRATAGEY SELL ON HIGH

CASTORSEED

March

R1:4930 R2:4995

CONSOLIDATE BUY ON DIPS

GUARSEED

March

R1: 5520 R2: 5580

CONSOLIDATE BUY ON DIPS

REFINED OIL

March

R1: 722.00 R2: 726.00

S1: 685.00 CONSOLIDATE BUY ON DIPS S2: 681.00

CHANA

April

R1: 3195 R2: 3245

S1:2960 S2:2885 S1:3240 S2:3210 S1:6145 S2:6095

CONSOLIDATE SELL ON HIGH

RMSEED

April

R1:3545 R2:3665

CONSOLIDATE BUY ON DIPS

TURMERIC

April

R1:7560 R2:7760

CONSOLIDATE BUY ON DIPS

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