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Thursday, March 3, 2016

Update on Agri Commodities 03 Mar 2016





Soyabean






Just made a low of 3587. We recommended selling below 3625


Now what to expect???


Close below 3580 will see further downside panic till 3550---3520 mark in days to come


Hurdle intact at 3625---3685







 

Soyaref






We clearly indicated that below 610... we will see panic till 603---596 mark. Just made a low of 597.20


Now what to expect???


Close below 596 will see further downside panic till 589---586 mark

Hurdle and stop loss at 610









CPO






Support at 474---467 and Resistance at 490


Close below 474 will take to 470---467. Three consecutive closes + weekly close below 467 will see free fall in days to come else it could test its resistance level of 483---490 again


Further upside rally will see only close above 490 mark


traders can trade with levels only








Rmseed




Support at 3780 and Resistance at 3850


Close above 3850 will take to 3920---3980 and then to 4050+ mark in days to come else it could test its support level of 3780 again


Three consecutive closes + weekly close below 3780 will see free fall in Rmseed


Trade with levels only









Chana




Support at 4150---4080 and Resistance at 4280


Clearly indicated to buy in panic with stop loss below 4080 mark. Still looks positive and could test its resistance level of 4280 again


Further upside rally will see only weekly close above 4280 mark


In panic will buy... Maintain stop loss below 4080 on closing basis








Jeera






Told to buy around 13950----13900. Just made a high of 14295


Now what to expect???


Support at 14300---14450. Three consecutive closes + weekly close above 14450 will see sharp upside rally till 14700----14850+ mark in days to come

Support intact at 13900---13600


Dhaniya, Mentha oil, Turmeric.... All are trading in a zigzag move and has no clear direction. So traders can trade safely with levels only














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