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Friday, May 6, 2016

Update on Agri Commodities 06 May 2016







Soyabean (June)



 
Soyabean is trading in a range of 4020---4160 and now trading around 4050

Weekly close below 4020 will take to 3920---3850 and then to 3700 mark in days to come else it could test its resistance level of 4160 again

Further upside rally will see only weekly close above 4160 mark


Trade with levels only





 


Soyaref (June)



 
Support at 640 and Resistance at 658---665

We will expect Soyaref to trade in a very wide range of almost 25 points for next few days. So traders can trade safely with levels only and wait for confirmation

Anything seems will update via App







CPO




Support at 547 and Resistance at 557

Weekly close below 547 will take to 541---535 mark. More and more downside panic will see only below 535 else it could test its resistance level of 554---557 again
 
Major hurdle at 566

Traders can trade safely with levels only and wait for confirmation








Rmseed (June)




Support at 4330 and Resistance at 4480---4550

If it unable to breach its support level of 4330 then it could test its resistance level of 4480---4550 again

Further upside rally will see only close above 4550 mark

Trade with levels only








Chana (June)



Support at 5500 and Resistance at 5800

If it unable to breach its support level of 5500 then it could test its resistance level of 5650--5720 and the to 5800 mark.

Further upside rally will see only close above 5800 mark

Trade with levels only







Cocuakl (June)


 

Support at 2300---2255 and Resistance at 2360

Trend looks positive and could test its resistance level of 2360. Three consecutive closes + weekly close above 2360 will take to ???

Fresh selling can initiate only close below 2255










Turmeric (June)




 
Support at 8100 and Resistance at 8600

Three consecutive closes + weekly close below 8100 will see sharp downside panic in Turmeric till 7400---7000 mark in days to come else it could test its resistance level of 8600 again

Further upside rally will see only close above 8600 mark

Trade with levels only









Jeera (June)





Support at 16600 and Resistance at 18200

It if unable to breach its support level of 16600 then it could test its resistance level of 17600---18200 again. Further upside rally will see only weekly close above 18200 mark

Fresh selling can initiate only close below 16600

Three consecutive closes + weekly close below 16600 will take to ???

Trade with levels only










Guarseed (June)




 
Support at 3190 and Resistance at 3310

Three consecutive closes + weekly close below 3190 will take to 3050---2980 mark in days to come else it could test its resistance level of 3310 again

Further upside rally will see only close above 3310 mark

Trade with levels only
























More will update soon!!