Daily Agri Report by www.epicresearch.co - 18th January 2013

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indore, India (prHWY.com) January 18, 2013 - Indian chana edges up; new season supply trims gain
Indian chana futures edged up, tracking a pick-up in spot demand after a recent fall in prices, but hopes of a higher output and new season supplies capped the gains. Arrivals from the new season crop have started from Andhra Pradesh, Karnataka and Maharashtra, while supplies from other destinations are expected in the coming days, the most-active chana contract for April delivery on the National Commodity and Derivatives Exchange ( NCDEX) edged up 0.29 percent .
Turmeric future to trade negative on lower offtake
Turmeric futures are expected to trade with a negative bias due to lower offtake by the stockists. Also, sluggish export demand may weigh on the market sentiments. Likely rise in supply in major spot markets after Pongal festival may also add to the weak trend.
TRADING TIP :
Buy Chana Apr
* Above 3540
* TGTS-3570/3600
* SL- 3515

Buy Jeera mar
* Above 14050
* TGTS-14150/14250
* SL- 13950

ANALYSIS
DAILY SOYABEAN
OPEN: 3220
HIGH: 3262
LOW: 3205
CLOSE: 3241

* SOYABEAN LOOKS UPWARD
* TREND: BULLISH
* STRATEGY: BUY ON DIPS

DAILY CHANA
OPEN: 3500
HIGH: 3535
LOW: 3488
CLOSE: 3534

* CHANA LOOKS SIDEWAYS
* TREND: CONSOLIDATE
* STRATEGY: BUY ON DIPS

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