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Monday, November 16, 2015

Update on Agri Commodities 16 Nov 2015







Soyabean



Support at 3800---3650 and Resistance at 3970


It looks positive and could test its resistance level of 3970. Three consecutive closes + weekly close above 3970 will see nonstop rally in Soyabean till 4080---4150+ mark in days to come else it could test its support level of 3800 and then to 3730---3650 again. Further panic seen only weekly close below 3650 mark


Any sharp panic will be buying opportunity in Soyabean with strict stop loss below 3650 on closing basis






Soyaref




Support at 596 and Resistance at 603

Close below 596 will take to 592---588 and then to 576 mark in days to come else it could test its resistance level of 603 again

Close above 603 will take to 608---613 and then to 618 mark

Traders can trade with levels only






Chana




Chana will trade in a range of 4700---5300 and we will expect this trend will remain continue in Chana for next few trading sessions

Overall trend looks positive on seeing technical and fundamental view but trade with levels only

Any sharp panic will be buying opportunity in Chana







Castorseed




Three consecutive closes + weekly close below 4300 will see sharp downside panic till 4120---4050 mark. Further panic seen only close below 4050 mark

Any sharp rise will be selling opportunity with stop loss above 4450 on closing basis





Rmseed




Support at 4730---4680 and Resistance at 5030


Either side break or close with volume will decide further.. So traders can trade in a range with strict stop loss and wait for confirmation

Anything seems will update.






Turmeric




Flared like anything and hit 9800 mark. We clearly indicated that positional traders can buy and accumulate in panic for the upside target of 9300---9800 and then to 10500+ mark

Now what to expect???

Two consecutive closes above 9800 will see further upside rally till 10300---10800+ mark in days to come

Ultimate target intact 12000 mark

 Book part profit and revise stop loss at cost to cost i.e. below 8850 on closing basis.





No charm seeing in Jeera... Guarseed... Dhaniya and Mentha oil. So trade safely with levels only. Anything seems will update....!!