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Tuesday, September 8, 2015

Update on Agri Commodities 08 Sep 2015









CPO




Support at 376 and Resistance at 384

Two consecutive closes below 376 will take to 369---366 and then to 360 mark in days to come

Fresh buying can initiate only close above 384 mark

Traders can trade with levels only





Soyabean




Support at 3160 and Resistance at 3290---3330


Close below 3235 will take to 3190---3160. Three consecutive closes + weekly close below 3160 will see free fall in Soyabean till 3030---2970 and then to 2850 mark in days to come else it could test its resistance level of 3290---3330 again


Further upside rally seen only close above 3330 mark

Traders can trade with levels only





Soyaref




Not able to breach its resistance level of 580 and slipped again to 564.50 mark

Now what to expect???

Close below 563 will take to 555---548 mark. Three consecutive closes + weekly close below 548 will see free fall in it


Fresh buying can initiate only close above 576 mark

Trade with levels only






Chana




Support at 4940 and Resistance at 5130

Two consecutive closes below 4940 will take to 4730---4650 mark in days to come else it could test its resistance level of 5080---5130 again


Further upside rally seen only close above 5130 mark

Be cautious at upper levels and trade with levels only... Anything seems will update.




 Rmseed



Support at 4250---4180 and Resistance at 4330

Two consecutive closes above 4330 will take to 4390---4450+ mark in days to come else it could test its support level of 4250---4180 again

Further panic seen only close below 4180 mark

Trade with levels only





Castorseed




Castorseed made a high of 4324 and slipped again to 4175 mark and now trading around 4190

Now what to expect???

Two consecutive closes below 4250 will take to 4080---4030 and then to 3900 mark in days to come


Fresh buying can initiate only close above 4330 mark

Trade with levels only





Now spices looks tired on daily chart but trade with levels only and wait for confirmation.