NCDEX Daily Agri Commodity Press Report by epicresearch 17st Feb 2014

TURMERIC FUTURE

Turmeric futures are seen trading higher on account of good demand from buyers in India and overseas coupled with concerns about yield in Andhra Pradesh. Shortage of good quality spice and expectations of rise in export enquiries too limited sharp fall in prices. Turmeric futures are likely to trade with positive bias due to weak production estimates for the current year.

CHANA FUTURE

Chana may trade on a mixed note. Reports that the state government may intervene and start procuring pulses at MSP coupled with higher pulses exports data may support prices however, comfortable supply situation as well as higher output estimates may pressurize prices.

CORIANDER FUTURE

Coriander futures are expected to trade higher on robust demand amid concerns over crop damage due to cold weather in Rajasthan and excessive rain occurred during the sowing period.

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.

SUGGESTION OF TODAY TRADING STRATEGY:

BUY CHANA FEB ABOVE 2940 TGTS 2970,3020 SL 2890

SELL CHANA FEB BELOW 2840 TGTS 2810,2760 SL 2890

SUGGESTION OF TODAY TRADING STRATEGY:

BUY CASTORSEED FEB ABOVE 4200 TGTS 4230,4280 SL 4150

SELL CASTORSEEED FEB BELOW 4140 TGTS 4110,4060 SL 4190

SUGGESTION OF TODAY TRADING STRATEGY:

BUY DHANIYA FEB ABOVE 8150 TGTS 8180,8230 SL 8100

SELL DHANIYA FEB BELOW 8010 TGTS 7980,7930 SL 8060

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