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Monday, October 19, 2015

Update on Agri Commodities - 19 Oct 2015





As expected... Soyabean, Soyaref, CPO, Rmseed and Chana crashed from upper levels. We clelarly indicated to sell and be cautious at upper levels






Have a look on it!!



CPO




Slipped and made a low of 410.10. We recommended selling below 415 mark

Three consecutive closes + weekly close below 415 will see free fall in CPO till 390---380 mark in days to come else it could test its resistance level of 424---430 and then to 441 mark

Trade with levels only







Soyabean (Nov)



Told to sell below 4065. Crashed and made a low of 3901 and now trading around 3920


Now what to expect???



Two consecutive closes below 3880 will see further panic till 3820---3760 and then to  3700 mark in days to come

Already booked part profit.. Now on rise sell it!! Revise stop loss at cost to cost







Soyaref (Nov)




Told to sell Soyaref around 635---638 with stop loss of 645. Just made a low of 619.20. Our final target was 618


Now what to expect???


Support at 618 and Resistance at 628

Two consecutive closes below 618 will take to 612---609 and then to 600 mark in days to come else it could test its resistance level of 628 again

Further upside rally seen only close above 628 mark

Trade with levels only







Rmseed (Nov)




  Below 4980... our target was 4920---4850. Just made a low of 4901

Now what to expect???

Two consecutive closes below 4980 will take to 4850---4780 and then to 4700 mark in days to come

Fresh buying can initiate only close above 5130 mark

On rise sell it!! Stop loss 5130 on closing basis






Chana (Nov)




  Clearly indicated that be cautious at upper levels in Chana. It crashed vertically and hit 4% lower circuit

Now what to expect???

Three consecutive closes + weekly close below 5150 will see free fall in Chana till 4800----4650 mark in days to come

Fresh buying can initiate only weekly close above 5450 mark

Any sharp rise will be selling opportunity but trade with levels only... Any reversal seem will update






 

Castorseed (Nov)



Support at 4050 and Resistance at 4180

Two consecutive closes above 4180 will take to 4280---4350+ mark in days to come

Fresh selling can initiate only close below 4050 mark

Close below 4050 will take to 3970---3930 and then to 3850 mark

Trade with levels only