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Monday, March 21, 2016

Update on Soyabean and Soyaref 21 Mar 2016






Soyabean





Support at 3720---3640 and Resistance at 3840





Three consecutive closes + weekly close above 3840 will see non stop rally in Soyabean till 4050---4200+ mark in days to come


After long consolidation phase and on going fundamental concern... It looks like that Soyabean could see a sharp upside move in coming weeks


Else it could test its support level of 3720---3640 again


Further downside panic will see only weekly close below 3600 mark but chances are unlikely to breach its support level of 3640---3600 mark in near terms but trade with levels only









Soyaref




Support at 618---606 and Resistance at 632


Looks positive and could test its resistance level of 632 again. Overall trend looks positive and any sharp panic will be buying opportunity in Soyabean around 621---618


Stop loss below 606 on closing basis














More will be update soon!!