NCDEX Soybean

NCDEX Soybean has been worst performer in edible

oil complex for past nine months and weakness

continues with no major reversal in sight till now.

Rs.2960-3050 are expected to act as stiff

resistances. Primary trend is still down and any

pullback towards resistance area would be an

opportunity to go short targeting the previous low at

Rs.2760. Only move above channel resistance would

be the first major positive sign.

NCDEX Jeera

NCDEX Jeera is consolidating in the form of a

symmetrical triangle and breakout of the same is

expected soon. Strong short-term supports are

placed at Rs.17900-17650 whereas Rs.18850 could

act as stiff resistance. Buying on dips is advised

targeting Rs.18850. breach above the same would

confirm further bullishness.

NCDEX RMSeed

NCDEX RMSeed took support near its previous low at

Rs.3780 and has bounced sharply towards

immediate resistance near Rs.4050 level. Although

the primary trend is still bearish, current short-term

pullback could continue towards Rs.4140-4150 zone.

Only breach below Rs.3780 on a sustainable basis

would indicate weakness signaling continuation of

the primary trend.

Monday, April 03, 2017

Please refer to disclaimer at the end of the report.

NCDEX Turmeric

NCDEX Turmeric has been in a downtrend since the

past one year forming lower highs and lower lows

within a downward-sloping channel. The short-term

bias remains bearish below immediate resistance at

Rs.6550-6580 range with stiff higher resistance near

Rs.6750 level. Selling on rallies is till advised

potentially targeting Rs.6120-6100 on the downside.

NCDEX Guarseed

NCDEX Guarseed continues to remain in an uptrend

and has breached stiff resistance near Rs.3930 level,

which is now likely to provide support. The price has

rebounded strongly from lower support at Rs.3600

and could now potentially rise towards Rs.4250

mark. Any dip towards immediate support would be

an opportunity to go long.

NCDEX RSO

NCDEX RSO has breached long-term upward-sloping

trend channel (bold blue lines) indicating negative

trend ahead. The price is currently headed south

trading within downward-sloping channel (bold red

lines) facing immediate resistance near Rs.645-647

area. Selling on rallies is still advised with test of

lower support at Rs.625 level looking possible.

For any details contact:

Commodities Advisory Desk - +91 22 3958 3600

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