Weekly agricommodity report 09 feb2015

09/02/2015

REFSOYOIL APR DAILY TECHNICAL CHART

Date and Time

09/FEB/2015

STOCK: Ref Soy Oil

Apr

Call: BUY

CMP: 598

Initiation Level:

Around 588

Book Profit (Level 1):

598.


614

Stop Loss Below: 578

Conviction Level:

Moderate Risk.

Reasoning. (Read

Technical

commentary).

Short term Trend:

Bullish.

Medium Term Trend:

Bullish.

For the Traders: BUY

For Aggressive

Traders: BUY

Support: 588-582-572

Resistance-604-610-

617

Duration: 4-5 Days

Recommendation:-

On the basics of technical

and Fundamental analysis

we are Recommending to

Buy Ref Soy Oil Apr

around (585) with the

Stop Loss of below 578 for

the Target of 598and 615.

REF SOY OIL APR NCDEX

Ref Soy Oil Apr NCDEX: Prices rebounded firmly from the support 572.90 levels on dated 29

January 2015, prices traded higher in previous session made high of 601.50 levels and finally

closed at higher around 598 levels as improved domestic market demand kept trend up. Prices

are still strongly held the base support of 572, but major upside views are seen only once it

clears the technical resistance of 605 (at closing basis) towards 620/632 levels for the week.

Moreover, an increase in volume along with OI would support the upward bias. However, unable

to do so could see a range bound market and major weakness is seen only if prices close bottom

horizontal support of 572 that could negate present uptrend in the near term. India imported

11.62 million tonnes of edible oil during Sep-Oct 2013/14 compared to 10.68 million tonnes

during the same period previous season, stated the Solvent Extractors' Association (SEA). India’s

2013/14 soy oil imports stood at 1.95 Mn T against 1.09 Mn T in 2012/13 season. Palm oil

purchases were slightly lower at 7.29 Mn T against 8.29 Mn T last season. Sunflower oil imports

were recorded at 1.51 Mn T against 0.97 Mn T in 2012/13. Hence, we recommend buy on deeps

around 588 could see upward bias towards 598 followed by 614 for the week.

Date and Time

09/FEB/2015

STOCK: Mentha Oil Feb

Call: BUY

CMP: 768

Initiation Level: Around

750


755


768

Stop Loss: Below 720

Conviction Level:

Moderate Risk.

Reasoning. (Read

Technical commentary).

Short term Trend:

Bullish.

Medium Term Trend:

Bullish.

For the Traders: BUY

For Aggressive Traders:

BUY

Support: 755-735-715

Resistance-782- 799-

825

Duration: 4-5 Days

Recommendation:-

On the basics of Technical

and Fundamental analysis

we are recommending BUY

Mentha Oil Feb around 738

for the target of 760 – 778

with a strict stop loss of 715.

MENTHA OIL FEB

Mentha Oil: Prices skyrocketed higher from the support 723.20 levels on dated 23 January

2015, prices traded higher in previous session made high of 768 levels and finally closed at

higher at 770 levels as prices broke the trend line resistance of 785, bullish momentum could

continue towards 815/839 followed by 860 levels. Market traded bullish with improved

export as well as domestic market demand which helped the market to recover from lower

levels kept trend up. There are reports of pickup in demand at these levels but with high

stocks, the uptrend gets limited. The winter season export and domestic demand were

expected to pick up in the past few weeks Banning of Gutka in some states continues having

negative impact on Mentha Oil demand. However, the volume is seen steadying these days

along with a decline in OI suggests a downside directive moves, any trade below 725 could

extend the lower correction towards 705/690 levels. But the major weakness could be seen

only a break of 690 levels in the near term. On the other side, if prices breach 200 SMA

support of 735 in closing basis could turn the outlook into negative territory in the near term.

Hence, we recommend buy on deeps around 750 levels could see upward bias towards 775

followed by 798 for the week.

MENTHA OIL FEB DAILY TECHNICAL CHART

CCHATECHNICALCHART

Date and Time

09/FEB/2015

STOCK: Castor Seed Mar

Call: SELL

CMP: 4080

Initiation Level: Around

4020


3950


3730

Stop Loss: Above 4250

Conviction Level:

Moderate Risk.

Reasoning. (Read

Technical commentary).

Short term Trend:

Bearish.

Medium Term Trend:

Bearish.

For the Traders: SELL

For Aggressive Traders:

SELL

Support: 4020-3950-3730

Resistance: 4280-4360

Duration: 4-5 Days

Recommendation:-

On the basics of Technical and

Fundamental analysis we are

Recommending sell Castor

Seed Mar NCDEX below 4020

for the target of 3950 – 3730

with a strict stop loss above

4230.

CASTOR SEED MAR NCDEX

Castor Seed Mar NCDEX: Castor seed prices slumped in previous couple of days from the

high of 4259 level dated 02 February 2015 and made low of 4027 level dated 05 February

2015 and finally closed lower at 4080 level in previous week, besides, the decrease in OI may

keep profit booking for the next couple of days, as prices cleared the down trend line support

of 3950(on closing basis) for the strong downside rallies to 3830 followed by 3750 or even

lower to 3580 levels in the near term. Castor seed March as weak domestic market demand

high stocks and bearishness in International markets kept pressure on the domestic market

sentiments..

Total production of Castor Seeds in India for the year 2013-14 is 12.03 lakh tones. It has

decreased by 11% as compared to previous year. Estimated Total production of Castor Seeds

in India for the year 2014-15 is 12.30 lakh tones. It has decreased by 2.2% as compared to

previous year. Prices are however at strong psychological resistance level of 4500 for

February contract. Hence, we recommend sell only a voluminous break below 4020 could see

downside bias towards 3950 followed by 3730 for the week.

CASTOR SEED MAR DAILY TECHINICAL CHART

CHANA (Apr) CASOTOR SEED (Mar)

DHANIYA (Apr) JEERA (Mar)

TURMERIC (Apr) SYBEAN (Apr)

RM SEED (Apr) SYOIL (Apr)

•CONSOLIDATE

•SELL ON RISE

Trend

Strategy

•3660

•3590Resistance

•3500

•3430Support

•BEARISH

•SELL ON RISE

Trend

Strategy

•4350

•4230Resistance

•4030

•3930Support

•BEARISH

•SELL ON RISE

Trend

Strategy

•7980

•7700Resistance

•7480

•7180Support

•CONSOLIDATE

•BUY ON DEEPS

Trend

Strategy

•15300

•14800Resistance

•14200

•13800Support

•CONSOLIDATE

•BUY ON DEEPS

Trend

Strategy

•8480

•8350Resistance

•7850

•7700Support

•CONSOLIDATE

•BUY ON DEEPS

Trend

Strategy

•3600

•3530Resistance

•3410

•3360Support

•CONSOLIDATE

•BUY ON DEEPS

Trend

Strategy

•3420

•3360Resistance

•3290

•3200Support

•BULLISH

•BUY ON DEEPS

Trend

Strategy

•625

•605Resistance

•583

•572Support

TECHNICAL LEVELS

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reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the

product/s that suits them the most.

*Investment is subject to market risks.

Sincere efforts have been made to present the right investment perspective. The information

contained herein is based on analysis and on sources that we consider reliable. We, however, do

not vouch for the accuracy or the completeness thereof. This material is for personal information

and we are not responsible for any loss incurred due to it & take no responsibility whatsoever for

any financial profits or loss which may arise from the recommendations above.

Weekly agricommodity report 09 feb2015

Economy & Finance

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