Daily Agri Report by www.epicresearch.co - 18th MARCH 2013
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Chana futures up on pick-up in demand.
Chana prices rose by Rs 9 to Rs 3,395 per quintal in futures trade mostly supported by rising demand in the spot markets. However, expectations of higher output and rising arrivals from the new season crop in the physical market restricted the gains. At the National Commodity Derivatives Exchange, chana for delivery in April rose by Rs 9, or 0.27 per cent, to Rs 3,395 per quintal, with an open interest of 73,590 lots.
Turmeric futures to trade strong on weak production
Turmeric futures are likely to remain supportive in the near term amid weak domestic production along with strong stockists demand. However, imposition of special margin of 10 percent by NCDEX on the long side for all contracts may too weigh on the futures price trend.
TRADING TIP :
Sell Castorseed Apr
Below 3619
TGTS- 3590/3550
SL-3645
Sell Jeera Apr
Below 13400
TGTS-13250/13100
SL-13550
ANALYSIS
DAILY SOYABEAN CHART
OPEN: 3478
HIGH: 3493
LOW: 3468
CLOSE: 3476
* SOYABEAN LOOKS DOWNWARD
* TREND: BEARISH
* STRATEGY: SELL ON RISE
DAILY CHANA CHART
OPEN: 3393
HIGH: 3424
LOW: 3393
CLOSE: 3407
* CHANA LOOKS SIDEWAYS
* TREND: CONSOLIDATE
* STRATEGY: BUY ON DIPS
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