daily ncdex report 19-12-2014

8/10/2019 Daily Ncdex Report 19-12-2014

http://slidepdf.com/reader/full/daily-ncdex-report-19-12-2014 1/5

19/12/2014



TMC PR D ILY TECHNIC L CH RT

Date and Time

19/DEC/2014

STOCK: TURMERIC

APR

Call: BUYCMP: 8050

Initiation Level:

7850-7860

Book Profit (Level

1): 8200

Book Profit (Level

2): 8400

Stop Loss: 7550

Conviction Level:

Moderate Risk.

Reasoning. (Read

Technical

commentary).

Short term Trend:

Bullish .

Medium Term

Trend: Bullish.

For the Traders: BUY

For Aggressive

Traders: BUY

Support: 7800-7720-

7500

Resistance-8150-

8280-8380

Duration:4-5 Days

Recommendation:-

On the basics of technical

analysis we are

Recommending to buy

Tmc Apr above (7850-

7860) with the Stop Loss

of 7550 for the Targets of

8200 and 8300.

TURMERIC APR NCDEX

Turmeric Apr NCDEX: Turmeric apr futures traded higher in past session prices fired higher

level 8110 and later closed at 8050 levels. Expected lower production in major producing states

such as Andhra Pradesh and Tamil Nadu and pickup in demand may support the prices in

coming days. On Tuesday, turmeric arrivals in Erode were around 2500 bags (1bag=70kg), up

from previous day. As per market source, total production of turmeric in the current year is

expected to be 35-37 lakh bags (1 bag=75 kg) against 52 lakh bags last year. Lower rains in AP

and TN have already adversely affected sowing for the new crop there. Prices are still strongly

held the base support of 7750. Moreover, an increase in volume along with OI would support the

upward bias. However, unable to do so could see a range bound market and major weakness is

seen only if prices rupture bottom horizontal support of 7550 that could negate present uptrend

in the near term. Hence, we recommend only buy on deeps around 7850 levels.



Date and Time

19/Dec/2014

STOCK : JEERA Jan

Call: BUYCMP: 13575

Initiation Level:

ABOVE 13670

Book Profit (Level

1): 13880

Book Profit (Level

2): 14180

Stop Loss: 13280

Conviction Level:

Moderate Risk.Reasoning. (Read

Technical

commentary).

Short term Trend:

Bullish .

Medium Term

Trend: Bullish.

For the Traders: BUY

For Aggressive

Traders: BUY

Support: 13150-

12850-12600

Resistance-13670-

14080-14300

Duration:4-5 Days

Recommendation:-

On the basics of

Technical analysis we areRecommending BUY

Jeera Apr above for

targets of 13890 – 14180

with a strict a stop loss of

13280.

EERA an NCDEX

Jeera Jan NCDEX: Prices skyrocketed previous session from the low of 13160 and later high

13650 4% upper circuits and later closed at 13575. The winter season export and domestic

demand are expected to pick up in the coming few weeks till before Christmas. Lowerproduction prospects in International markets firmed up prices as any import would get

costlier. Traders anticipate present rates to be on the lower side and anticipate further

recovery in coming days as demand firms up. For the day, any break below the support of

13220 could see downside bias towards 13080 followed by 12890 levels. However, the

volume is seen steadying these days along with a decline in OI suggests a sideways directive

moves. On the other side, if prices breach the resistance of 13700 could turn the outlook into

positive territory in the near term. Hence, we recommend buying only a voluminous break

above 13670 for the day.

JEER J N D ILY TECHNIC L CH RT

CCH TECHNIC LCH RT



Date and Time

19/Dec/2014

STOCK : CHANA JAN

NCDEX

Call: SELL

CMP: 3290

Initiation Level:

Around 3340

Book Profit (Level

1): 3180

Book Profit (Level

2): 3080

Stop Loss: 3450

Conviction Level:

Moderate Risk.

Reasoning. (Read

Technical

commentary).

Short term Trend:

Bulliish .

Medium Term

Trend: Bearish.

For the Traders:

SELL

For Aggressive

Traders: SELL

Support: 3150-3080-

3000

Resistance-3280 -

3381

Duration: 4-5 Days

Recommendation:-

On the basics of

Technical analysis we are

Recommending sell

Chana Jan NCDEX on rise

around 3340 for targets

of 3150 – 3080 with a

strict a stop loss of above

3420

CHANA AN NCDEX

Chana jan NCDEX: Prices traded choppy and later closed higher at 3290 levels. Lower

production possibilities could support the market sentiments further a recovery in sowing inRajasthan over last few weeks had kept prices down. Bearish news in International markets

affected the market sentiments adversely. As per USDA, expected pulses production in USA is up

by 8% to 2,232,630 metric tonne during 2014 from last year. High Pulses stocks and

bearishness in International markets kept pressure on the domestic market sentiments. A

recovery in sowing in Rajasthan over last few days added further to the selling pressure.

Reports of lower sowing due to prevailing low rates, good demand from millers and Govt

agencies and a rise in MSP from Rs 3100/Q to Rs 3175/Q had supported prices. Chana prices,

any reach around 3340 could see selling pressure with downward bias towards 3150 followed

by 3080. Hence, we recommend selling only any rise around 3340 for the day.

CH N J N D ILY TECHINIC L CH RT



DISCLAIMER

The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion.

Users have the right to choose the product/s that suits them the most. Sincere efforts have beenmade to present the right investment perspective. The information contained herein is based on

analysis and up on sources that we consider reliable.

Entering our site means that you have read, understood and agreed to everything that is written and implied in this

disclaimer note. RESEARCH is published solely for informational purposes and must in no way be construed as investment

advice for a specific individual. The information and views in this website & all the services we provide are believed to be

reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose theproduct/s that suits them the most.

*Investment is subject to market risks.

Sincere efforts have been made to present the right investment perspective. The information

contained herein is based on analysis and on sources that we consider reliable. We, however, donot vouch for the accuracy or the completeness thereof. This material is for personal information

and we are not responsible for any loss incurred due to it & take no responsibility whatsoever for

any financial profits or loss which may arise from the recommendations above.

daily ncdex report 19-12-2014

Documents