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24JULY 2013
MARKET WRAP.
NCDEX Chana August contract closed @2755 registering loss of 2.58 % on Tuesday open: 2824 High: 2832 Low:2740 Close: 2755 Jeera Unjha august contract is down by more than 1.5% on today trading session.
NCDEX Dhaniya August contract closed down by .55 % on today. open:5829 High: 5845 Low: 5667 Close: 5737 Soya refined has lost 1.3%. NCDEX Castor seed August contract is closed down by 1.85 % on Tuesday.
INTRADAY VIEW.
NCDEX August Chana is going down continuously and making lower lows however the momentum indicator is making higher low indicating divergence. There is probability of trend reversal to the upside. The trend in NCDEX coriander futures for August delivery is negative; however, further short covering is expected at current levels. For intra-day, support for the commodity is seen at 5650 while 5825 is the resistance. Traders may sell around 5795 with the stop loss of 5825 for the target of 5650. The trend in Soyabean futures for August delivery is bearish and downward movement is expected in the near term. Resistance: 3085, 3106 Support: 3040, 3020
The trend in castor seed futures for August delivery is positive and further up-tick is expected from current level NCDEX Turmeric for August delivery may trade negative on Tuesday Resistance: 5900, 5950 Support: 5650, 5610
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P.CLOSE
LAST CLOSE
DHANIYA (20AUG2013 )
5791.00 5730.00 -61.00 -1.05
JEERA (20AUG2013 )
13530.00 13322.00 -208.00 -1.54
TURMERIC (20AUG2013 )
5830.00 5730.00 -100.00 -1.72
CHANA (20AUG2013 )
2824.00 2755.00 4910.00 -69.00 -40.00 -2.44 -0.81
CASTORSEED (20AUG2013 )
3445.00 3442.00 -3.00 -0.09
RMSEED (20AUG2013 )
3362.00
3317.00
-45.00
-1.34
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TECHNICAL VIEW
Turmeric (AUG.)
`
TREND STRATEGY
RESISTANCE
SUPPORT
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TREND STRATEGY
RESISTANCE
SUPPORT
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JEERA (AUG.)
TREND STRATEGY
RESISTANCE
SUPPORT
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RESISTANCE SUPPORT
R1:13750 R2:13990 S1: 13150 S2:13050 S1:3410 S2:3380 S1:4860 S2: 4810 S1: 651.00 S2: 645.00 S1:2720 S2: 2630 S1:3305 S2:3280 S1:5390 S2:5290
TREND
CONSOLIDATE
STRATAGEY
BUY ON DIPS
CASTORSEED
August
BEARISH
SELL ON HIGH
GUARSEED
October
CONSOLIDATE
BUY ON DIPS
REFINED OIL
October
BEARISH
SELL ON HIGH
CHANA
August
BEARISH
SELL ON HIGH
RMSEED
August
R1:3410 R2:3450
BEARISH
SELL ON HIGH
CHILLI
August
R1:5690 R2:5800
BULLISH
BUY ON DIPS
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Disclaimer
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