Weekly ncdex 02 feb2015
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Transcript of Weekly ncdex 02 feb2015
SOYBEAN APR DAILY TECHNICAL CHART
Date and Time
02/FEB/2015
STOCK: Soybean Apr
Call: SELL
CMP: 3435
Initiation Level:
Around 3430
Book Profit (Level
1): 3360
Book Profit (Level
2): 3240
Stop Loss: Above
3500
Conviction Level:
Moderate Risk.
Reasoning. (Read
Technical
commentary).
Short term Trend:
Bearish.
Medium Term
Trend: Bullish.
For the Traders:
SELL
For Aggressive
Traders: SELL
Support: 3280-3226-
3160
Resistance-3400-
3460-3530
Duration: 4-5 Days
Recommendation:-
On the basics of technical
and Fundamental
analysis we are
Recommending to sell on
rise Soybean Apr around
3400 with the Stop Loss
of 3500 for the target of
3260 and 3160.
SOYBEAN APR NCDEX
Soybean Apr NCDEX: Soybean prices slumped in previous couple of session from the high of
3500 dated 21 January 2015 and made low of 3314 level dated 27 January 2015 and finally
closed higher at 3435 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 3300 for the
strong downside rallies to 3230 followed by 3151 or even lower to 3080 levels in the near term.
Prices are still strongly held the base support of 3300, but major upside views are seen only once
it clears the technical resistance of 3450 towards 3520/3680 levels. Subdued demand in
International markets along with profit booking at the higher levels resisted the rates for
Soybean, which traders anticipate, has fallen to very low levels. Moderate fall was noted for
Soybean as overall weakness in International markets kept sentiments down. Good demand
however persisted in domestic market as traders anticipate demand to rise even further in
coming weeks. Previous couple of days slumped in International markets and also domestic
market ensured prices remained down for Soybean. Traders anticipate that with prices having
fallen a lot over last few weeks, further fall in rates may be limited provided some support is
here on the International and domestic front.
Hence, we recommend sell on rise around 3430 could see downside bias towards 3360 followed
by 3250 for the coming weeks.
Date and Time
27/Jan/2015
STOCK: Guar seed
Mar
Call: BUY
CMP: 4114
Initiation Level:
AROUND 4000
Book Profit (Level 1):
4160
Book Profit (Level 2):
4300
Stop Loss Below: 3900
Conviction Level:
Moderate Risk.
Reasoning. (Read
Technical commentary).
Short term Trend:
Bearish.
Medium Term Trend:
Bearish.
For the Traders: BUY
For Aggressive
Traders: BUY
Support: 4240-4180-
4070
Resistance-4410-
4530-4680
Duration: 4-5 Days
Recommendation:-
On the basics of Technical
and fundamental analysis
we are Recommending Buy
Guar seed Mar around
3980 for the target of 4230
–4360 with a strict stop
loss of 3880.
GUARSEED MAR NCDEX
Guar seed Mar NCDEX: Prices failed to recover from 4455 levels dated 22 January 2015 in
March contract made a low of 4030 levels dated 28 January 2015 as weak domestic and
International markets demand high stocks and bearishness in mandi kept pressure on the
domestic market sentiments and finally closed at lower 4114 levels in previous week. As prices
clear the upper trend line resistance of 4450 levels for the strong upside rallies to 4610
followed by 4725 or even higher to 4880 levels in the near term. Further, as per trader
estimates however, production this year is expected 43% lower at 12.5 MMT due to erratic
rains. Total arrival is around 1.25 lakh bags, 0.4-0.5 lakh bags down from previous year. This
could support prices in medium term when exports pick up. A significant fall in Crude Oil prices
kept trend weak for Guar Seed even as other Agri commodities shot up. Even as there are
reports of prices being at very low levels, any strong recovery in Crude Oil can ensure Exports
picking up. But a recovery in Crude prices is needed for Guar to bounce back strongly. On the
other side, if prices breach psychological support of 4000 could turn the outlook into negative
territory in the near term. We recommend buy on deeps around 4000 could see upward bias
towards 4180 followed by 4400 for the week.
GUARSEED MAR DAILY TECHNICAL CHART
Date and Time
27/Jan/2015
STOCK: Cardamom Feb
Call: SELL
CMP: 1089.30
Initiation Level: Around
1060
Book Profit (Level 1):
1010
Book Profit (Level 2):
935
Stop Loss: Above 1110
Conviction Level:
Moderate Risk.
Reasoning. (Read
Technical commentary).
Short term Trend:
Bearish.
Medium Term Trend:
Bullish.
For the Traders: SELL
For Aggressive Traders:
SELL
Support: 1050-990-930
Resistance-1100 - 1130
Duration: 4-5 Days
Recommendation:-
On the basics of Technical
and Fundamental analysis
we are Recommending sell
on rise Cardamom Feb
around 1100 for the target
of 1030 – 990 with a strict
stop loss of above 1150.
CARDAMOM FEB
Cardamom Feb: Prices rebounded firmly from the support of 979.50 levels on dated 23 January
2015, made high of 1091.50 levels in dated 30 January 2015 and finally closed at higher 1089.30
levels as improve domestic market demand keep trend up on limited period. Cardamom futures
will slump on long liquidation trigged by strong availability. Cardamom futures are expected to
remain weak on strong arrivals and any upside is not sustainable considering the present
scenario. Cardamom as weak domestic market demand, high stocks and bearishness in
International markets kept pressure on the domestic market sentiments. According to sources,
the fourth round of plucking has been completed and the fifth round has commenced. Prices are
however at strong psychological Resistance level of 1100 for February contract. For the week,
any break below of 1040 could see downward bias towards 990 followed by 950. Analysts said
offloading of positions by speculators, driven by sufficient stocks position in the spot markets on
increased arrivals from producing belts, mainly pulled down cardamom prices in futures trade.
Hence, we recommend sell on rise around 1060 could see downside bias towards 1015 followed
by 935 for the week.
CARDAMOM FEB 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
•3590
•3510Resistance
•3350
•3280Support
•BEARISH
•SELL ON RISE
Trend
Strategy
•4410
•4230Resistance
•4080
•3930Support
•BEARISH
•SELL ON RISE
Trend
Strategy
•8180
•7900Resistance
•7680
•7480Support
•CONSOLIDATE
•BUY ON DEEPS
Trend
Strategy
•15600
•14800Resistance
•14100
•13800Support
•BULLISH
•BUY ON DEEPS
Trend
Strategy
•8480
•8350Resistance
•7950
•7700Support
•CONSOLIDATE
•BUY ON DEEPS
Trend
Strategy
•3480
•3400Resistance
•3330
•3250Support
•BEARISH
•BUY ON DEEPS
Trend
Strategy
•3520
•3360Resistance
•3260
•3200Support
•BULLISH
•BUY ON DEEPS
Trend
Strategy
•635
•618Resistance
•603
•596Support
TECHNICAL LEVELS
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