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Wednesday, June 8, 2016

Update on Agri Commodity 08 June 2016




Soyabean



Support at 3860---3800 and Resistance at 3920

Close above 3920 will take to 3980---4050. Further upside rally will see only close above 4050 mark else it could test its support level of 3860---3800 again

Further downside panic will see only close below 3800 mark

Trade with levels only







Soyaref


Support at 650 and Resistance at 660

Either side break or close with volume will decide further. Till then traders can trade in a range with strict stop loss and wait for confirmation

Trade with levels only







CPO


Support at 523 and Resistance at 528

Close above 528 will take to 533---538 mark. Three consecutive closes + weekly close above 538 will see more upside rally in it

Fresh selling can initiate only close below 523 mark

Trade with levels only







Rmseed


Support at 4520---4470 and Resistance at 4620

Look positive and could test its resistance level of 4620. Three consecutive closes + weekly close above 4620 will see sharp upside rally in it till 4800---4900+ mark in days to come

Fresh selling can initiate only close below 4470 mark

Trade with levels only







Chana


Flared like anything and hit 6645 mark. We recommended fresh buying above 6250 mark and now trading around 6570

Now what to expect???

Support at 6550 and Resistance at 6650

Close below 6550 will take to 6480---6430 and then to 6350 mark else it could test its resistance level of 6650 again

Break and close above 6650 will see further upside rally till 6800---6900+ mark in days to come

Trade with levels only







Cotton


Clearly indicated to buy Cotton above 17500 mark. If flared like anything and hit 19000 mark

What else you want???

Two consecutive closes above 19050 will see more upside rally till 19250---19400+ mark in days to come

Those are holding long as per our level can revise stop loss at cost to cost










Cocudakl


Told to buy around 2450---2420. Just made a high of 2472.

Close above 2480 will see further upside rally till 2550---2580+ mark in days to come

In panic will buy... Stop loss below 2300 on closing basis





Sugar... Rally continues. Hold long. We will expect more upside rally in it. Told to buy above 3570 mark

Target intact 3620---3650+ mark in days to come

















More will update soon...