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Thursday, May 19, 2016

Update on Agri Commodities 19 May 2016







Mentha Oil




Support at 860 and Resistance at 910

Two consecutive closes above 910 will take to 930---950 mark in days to come, 
else could test its support level of 860.
Trade with levels only




Soyabean (June)



Support at 3880 and Resistance at 4100

Looks positive and could test its resistance level of 4100.  Further upside rally will see only close above 4100 mark.

Further downside panic will see only close below 3880 mark.

Traders remain cautious in Soyabean at lower levels as we will expect sharp upside move in it.

Trade with levels only.. Anything seems will update.





Soyaref (June)



Support at 643---640 and Resistance at 668--676

We will expect Soyaref to trade in a range of 640---676.
Either side break or close with volume will decide further.

Close below 640 will take it to 635—630 marks in days to come else could test its resistance level

Trade with levels only





CPO



Support at 530 and Resistance at 555---564

We will expect CPO to trade in a range for next few trading sessions. 

Trade with levels only

Close below 530 will take it to 520—510 mark in days to come else could test it resistance level of 555

Anything seems will update via App





Rmseed (June)



Support at 4330 and Resistance at 4550

Three consecutive closes + weekly close below 4330 will see sharp downside fall in it else it could test its resistance level of 4550 again

Close above 4550 will see further upside rally till 4650-- -4730+ mark

Trade with levels only






Chana (June)


Support at 5650 and Resistance at 6050

Close above 6050 will take it to 6100-6150 and then to 6200+ mark in days to come, else could test its support level of 5650

Trade with level only





Turmeric (June)



Support at 8000 and Resistance at 8600

Three consecutive closes + weekly close below 8000 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 16280 and Resistance at 17000

It if unable to breach its support level of 16280 then it could test its resistance level of 17000 again. 

Further upside rally will see only weekly close above 17000
mark.

Fresh selling can initiate only close below 16280

Three consecutive closes + weekly close below 16280 will take to 15950---15700???

Trade with levels only





Dhaniya



Support at 6900 and Resistance at 7300

Two consecutive closes + weekly close above 7300 will take to 7900---8200+ mark in days to come else it could test its support level of 6900 again

Further downside panic will see only close below 6900 mark

Trade with levels only














More will update soon!!