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AGRI WRAP
TURMERIC
Turmeric futures slipped on profit-taking and are expected to open steady-to-weak in the next
session due to a drop in overseas demand. The key July contract closed 0.97 percent down at
6,554 rupees per 100 kg.
TURMERIC (JULY) DAILY CHART
TURMERIC (JULY) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 6470,
SUPPORT 2: 6316,
RESISTENCE 1: 6710,
RESISTENCE 2: 6870.
STRATEGY: BUY ON DIPS
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SOYABEAN
Indian soyoil futures fell on Wednesday, shrugging off gains in the overseas market where
benchmark Malaysian palm oil futures rose for a third session. Soybean futures dropped due to
poor soymeal sales, but the rapeseed contract marginally rose due to some improvement in
demand. Oilseed futures are likely to open weak on Thursday due to weak demand from local
buyers and lacklustre soymeal exports. Malaysian palm oil futures rose for a third session on
Wednesday to their highest in nearly a month, after a small improvement in export data raised
hopes of a recovery in demand, and as the ongoing conflict in Iraq propped up crude prices.
SOYABEAN (JULY) DAILY CHART
SOYABEAN (JULY) TECHNICAL VIEW:
TREND: BEARISH
SUPPORT 1:3890,
SUPPORT 2: 3845,
RESISTENCE 1: 4020,
RESISTENCE 2: 4050,
STRATEGY: SELL ON RISE
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CHANA
Chana, or chickpea, futures closed higher on a delay in monsoon rains, though subdued
demand from local buyers limited the upside. The July chana contract ended up 0.32 percent to
2,859 rupees per 100 kg.
CHANA (JULY) DAILY CHART
CHANA (JULY) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 2788,
SUPPORT 2: 2760,
RESISTENCE 1: 2876,
RESISTENCE 2: 2935.
STRATEGY: BUY ON DIPS
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JEERA
Jeera, or cumin seed, futures ended lower on some weakness in overseas demand and higher-
than-expected supplies in the spot market. The key July contract fell 0.48 percent to 11,340
rupees per 100 kg.
JEERA (JULY) DAILY CHART
JEERA (JULY) TECHNICAL VIEW:
TREND: BULLISH
SUPPORT 1: 11225,
SUPPORT 2: 11150,
RESISTENCE 1: 11650,
RESISTENCE 2: 11750.
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)
