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Monday, May 16, 2016

Update on Agri Commodity








Mentha oil



Support at 860 and Resistance at 893

Two consecutive closes below 860 will take to 820---790 mark in days to come

Fresh buy can initiate only close above 893 mark

Trade with levels only




Soyabean (June)



Support at 3930---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 else it could tst its support level of 3930---3880 again

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)



  Below 658... our target was 652---648. It made a low of 647.50 and bounced back

Now what to expect???

Support at 646---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

Trade with levels only




CPO



  Below 554... out target was 548---543 and then to 535. It made a low of 539 and now trading around 547

Now what to expect???

Support at 535 and Resistance at 555---564

We will expect CPO to trade in a range for next few trading sessions. Trade with levels only

Anything seems will update via SMS




Rmseed (June)




Support at 4450---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)



  Not able to breach its support level of 5500 and bounced back sharply to 5860 mark

Now what to expect???

Close above 5800 will take to 6000---6050 and then to 6200+ mark in days to come

Support at 5650




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 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




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!!