Agro Commodity Update (19th Feb-2018)

Top gainer level Update (19th Feb-2018) 

Fundamental Aspect:

Soybean futures traded higher on NCDEX, as participants expanded their holdings, supported by firming trend overseas due to lower stock-piles and fall in production. Besides, shortage of ready stocks in the market on restricted arrivals from growing regions, activated by strong demand for edible oils in spot markets, too added support to soybean prices.

Mentha oil futures traded lower on MCX, as speculators trimmed positions, driven by subdued demand from consuming industries at the spot market. Besides, ample stocks position on increased supplies from major producing belts of Chandausi in Uttar Pradesh too fuelled the downtrend. The contract for March was trading at Rs 1340.00, down by 0.99% or Rs 13.40 from its previous closing of Rs 1353.40. The open interest of the contract stood at 770 lots on MCX.

Technical Aspect  

Guar seed (March)

Our buy call from 4415—4430 has proven great.

Now what to expect?

Support is at 4350 and Resistance is 4500.

Break and sustain above 4500 will see further downside fall till 4570—4650 and then to 4700 mark in near term. 

Fresh selling only can be seen on close below  4350 mark

Trade with levels only.

Chana (March)

Support is 3750 and Resistance is 3900

Rally likely to continue till 3900. Break and sustain above  3850 will take it towards 3880—3950 mark in near term

Fresh selling can be seen on close  below  3750.

Trade with levels only.

RM Seed (April)

Support seen at 4050 and resistance is at 4200.

 Break and sustain above 4200 will take it to 4250--4300 and then 4380 mark.

Fresh selling can be initiated on close below 4050 mark.

Trade with levels only.

Soybean (March)

Support seen at 3750 and Resistance is 3900.

 Break and sustain above  3750 will take it towards 3850—3930 mark in near term else could touch its support level of 3750 mark.

Fresh selling only can be seen on close below 3750.

Trade with levels only.

Castor Seed (March)

Support at 4150 and Resistance at 4250

Above 4250 rally likely to continue till 4250—4330 and then 4370++ mark else could touch its support level of 4150.

Fresh selling only can be seen on close below 4150.

Trade with levels only.

Cotton (March)

Support is 19800 and Resistance is 20300.

Below 19700 panic likely to continue till 19600—19400 and then 19300 mark in near term .

Fresh buying only can be seen on close above 20300.

Trade with levels only.

Jeera (March)

Support seen at 15800 and Resistance is at 16350

Below 15800 panic likely to continue till 15550—15300 mark in near term else could touch its resistance level of 16350 mark.

Fresh buying only can be seen above 16350 on closing basis.

Trade with levels only.

Turmeric (Apr)

Support is 7230 while Resistance is 7380

Break and sustain above 7380 will take it towards 7450—7530 and then 7600 mark in near term else could touch its support of  level of 7230.

Fresh selling only can be seen on close below 7230.

Trade with levels only.

CPO (March)

Support seen at 535 while Resistance is 555.

Break and sustain below 535 will take it towards 510—495 mark in near term.

Fresh buying only can be initiated above 555 mark on closing basis.

Trade with levels only

More Will update Soon!!!

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Updates on Bullion, Base Metals and Energy Levels 16th February 18

Updates on Bullion, Base Metals and Energy Levels 16th February 18 

Gold futures ended slightly lower on Thursday, retreating from the highest finish in nearly three weeks, taking cues from a rally in stocks. Moreover, expectations that the US Federal Reserve will raise interest rates to fight inflation make gold less attractive since it is not interest-yielding.

Crude oil prices rallied for second day Thursday, rising back near January's 4-year highs, on the back of weakness in dollar. Prices are back above $60 despite expectations that U.S. shale production will remain robust this year and next. Meanwhile, Organization of the Petroleum Exporting Countries (OPEC) is reportedly telling its members to produce enough oil that to buffer the market in the case of a surge in demand. OPEC does not want to see oil prices rise so fast that U.S. production gets even more rampant.

Comex copper futures ended higher on Thursday, while London copper prices improved as the dollar fell and concerns over inflation prompted a move into hard assets, sparking an early rally across base metals that also saw zinc hit its highest in more than a decade and nickel a near three-year peak.

Technical Level

Gold

Support at 30650 and Resistance at 30850

Break and sustain above 30850 will take it to 31050—31300++ mark else could touch its support level  of 30650 mark.

Fresh selling can be initiated below 30650

Silver

Support at 38200 and Resistance at 38850

Break and sustain above 38850 will take it to 39200—39450++ mark else could touch its support level of 38200.

Fresh selling can be initiated below 38200

Crude

Support at 3920 and resistance at 3980

Break and sustain above 3980 will take it to 4050—4080++ mark else could touch its support level of 3920.

Fresh selling can be initiated below 3920

Trade with levels only.

Natural Gas

Support at 162.50. Break and sustain below 162.50 will take it to 155--153 mark else could touch its resistance level of 170.50

 Fresh buying only above 170.50

Copper

Hurdle at 463, Above 463 rally remain continue till 468—472 mark else could touch its support level of 455 again

Fresh selling can be initiated below 455 only.

More Will Update Soon!!!

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