NCDEX Weekly Research Report for 17-21 Apr 2017 by TradeIndia Research

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Soybean prices rise from 1-yr low:
At The U.S. Department of Agriculture raised its
forecast of global soybean stocks at the end of the
2016-17 marketing year to 87.41 million tonnes, from
82.82 million in March and well above an average of
trade estimates for 83.91 million tonnes. The figure
reflected rising crop estimates for South America’s soy
harvest. The agency pegged Brazil’s crop at 111 million
tonnes, up from the 108 million estimated last month.
Jeera Decreased In Unjha Market:
At Unjha market , Jeera GL Gulab Common is trading lower at
price Unit 350-3575 Bilty / Qtl, lower by 1.38 per cent from
previous day’s price level. Jeera Ganesh is offered lower at price
Unit 3500-3520 Bilty / Qtl, down by 0.85 per cent from previous
price level. steady as against previous day’s arrival.
Coriander
Market:
Unchanged
In
Rajsthan
At Ramganj market in Baran, Coriander Badami is trading at price
Unit 5500-5800 Bilty / Qtl, unchanged as compared to previous
close.
Coriander Eagle at market is offered at price Unit 5900-6100 Bilty
/ Qtl, unchanged against previous close.
Coriander Badami at Baran market is quoted at price Unit 52005400 Bilty / Qtl, steady as against previous close.
Coriander Eagle at market is offered at price Unit 5800-6000 Bilty
/ Qtl, unchanged as compared to previous close.
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TECHNICAL ANALYST
soyabean
OUTLOOK:
TREND: - UP
RESISTANCE: - 3000, 3100
SUPPORT: - 2930, 2850
STRATEGY: - BUY ON LOW.
TECHNICAL OUTLOOK
The contract for April delivery was trading at Rs 2929.00, up by 1.00% or Rs 29.00 from its previous closing of Rs
2900.00. The open interest of the contract stood at 19030 lots.
The contract for May delivery was trading at Rs 2991.00, up by 1.00% or Rs 30.00 from its previous closing of Rs
2961.00. The open interest of the contract stood at 134260 lots on NCDEX.
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jeera
OUTLOOK:
TREND: - DOWN
RESISTANCE: - 19500, 19750
SUPPORT: - 18900, 18350
STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK
The contract for April delivery was trading at Rs 18905.00, down by 1.56% or Rs 300.00 from its previous closing of
Rs 19205.00.The open interest of the contract stood at 399 lots.
The contract for May delivery was trading at Rs 19005.00, down by 1.27% or Rs 245.00 from its previous closing of
Rs 19250.00. The open interest of the contract stood at 18621 lots on NCDEX.
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dhaniya
OUTLOOK:
TREND: - DOWN
RESISTANCE: - 7300, 7550
SUPPORT: - 7000, 6850
STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK
The contract for April delivery was trading at Rs 7087.00, down by 0.96% or Rs 69.00 from its previous closing of Rs
7156.00. The open interest of the contract stood at 3420 lots.
The contract for May delivery was trading at Rs 7192.00, down by 0.95% or Rs 69.00 from its previous closing of Rs
7261.00. The open interest of the contract stood at 58660 lots on NCDEX.
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rmseed
OUTLOOK:
TREND: - DOWN
RESISTANCE: - 3950, 4000
SUPPORT: - 3850, 3800
STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK
The contract for April delivery was trading at Rs 3864.00, up by 0.73% or Rs 28.00 from its previous closing of Rs
3836.00. The open interest of the contract stood at 2510 lots.
The contract for May delivery was trading at Rs 3890.00, down by 0.15% or Rs 6.00 from its previous closing of Rs
3896.00. The open interest of the contract stood at 69870 lots on NCDEX.
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