24/12/2014

Date and Time

24/DEC/2014
STOCK: Ref Soy Oil Jan
Call: BUY
CMP: 608
Initiation Level:
Above 610
Book Profit (Level 1):
617.
Book Profit (Level 2):
623
Stop Loss Below: 598
Conviction Level:
Moderate Risk.

REF SOY OIL JAN NCDEX

Ref Soy Oil Jan NCDEX: Soy oil jan futures traded higher in past few session prices fired higher
level 609.40 and later closed at 608 levels. Prices are still strongly held the base support of 598,
but major upside views are seen only once it clears the technical resistance of 610 towards
617/623 levels. 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 598 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).
Hence, we recommend buying only a voluminous break above 610 for the day.

Reasoning. (Read
Technical
commentary).
Short term Trend:
Bearish .
Medium Term Trend:
Bullish.
For the Traders: BUY
For Aggressive
Traders: BUY
Support: 603-598-588
Resistance-610- 617623
Duration:4-5 Days
Recommendation:On the basics of technical
and Fundamental analysis
we are Recommending to
BUY Ref Soy Oil Jan above
(610-610.5) with the Stop
Loss of 598 for the
Targets of 617 and 623.

REF SOY OIL DAILY TECHNICAL CHART

Date and Time

24/Dec/2014
STOCK: Mentha Oil Dec
Call: BUY
CMP: 716.7
Initiation Level: ABOVE
750
Book Profit (Level 1):
790
Book Profit (Level 2):
870
Stop Loss: 700
Conviction Level:

MENTHA OIL DEC

Mentha Oil Dec: Prices failed to recover for Mentha oil as weak domestic market demand
high stocks and bearishness in International markets kept pressure on the domestic market
sentiments and finally closed 4% lower circuits 716.7 levels. Prices are still strongly held the
base support of 700, but major upside views are seen only once it clears the technical
resistance of 750 (on closing basis)towards 790/870 levels. Mentha traded with high volatility
even as prices continued to find every strong support at these lower levels 700. However, the
volume is seen steadying these days along with a decline in OI suggests a sideways directive
moves. Latest reports from Spice Board indicate that for the period April December last year,
exports for Mint value-added products like Oil, Menthol and its crystals rose 94% in volumes
at 17,850 tonnes and 39% in value at Rs 2202 Cr w.r.t. same period the previous year.
Hence, we recommend buying only a voluminous break above 750 for the day.

Moderate Risk.
Reasoning. (Read
Technical commentary).
Short term Trend:
Bullish .
Medium Term Trend:
Bullish.
For the Traders: BUY
For Aggressive Traders:
BUY
Support: 710-700-675
Resistance-737- 750790
Duration:4-5 Days
Recommendation:On the basics of Technical
and Fundamental analysis
we are Recommending BUY
Mentha Oil Dec above 750
for the target of 790 870
with a strict a stop loss of
700.

MENTHA OIL DEC DAILY TECHNICAL CHART

CCHATECHNICALCHART

Date and Time

24/Dec/2014

CASTOR SEED JAN NCDEX

Call: BUY
CMP: 4950
Initiation Level: Around

Castor Seed jan NCDEX: Castor seed prices, skyrocketed previous session rebounded firmly
from the support of 4914 and made high of 5015 later closed higher at 4988. Lower
production prospects in International markets firmed up prices as any import would get
costlier. Traders anticipate present rates to be on the lower side and anticipate further
recovery in coming days as demand firms up.

4850

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

Book Profit (Level 1):

5060

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. Any break above resistance of 4850 could see upward bias towards 4960
followed by 5060. Reports of likely significant domestic demand and expected rise in Export

STOCK: Castor Seed jan

Book Profit (Level 2):

5160
Stop Loss: 4680
Conviction Level:
Moderate Risk.

demand in coming weeks (aided by a strong Dollar vs Re) could support prices in medium
term. Hence, we recommend buy on deeps around 4850 for the day.

Reasoning. (Read
Technical commentary).
Short term Trend:
Bullish .
Medium Term Trend:
Bullish.
For the Traders: BUY
For Aggressive Traders:
BUY
Support: 4900-47804550
Resistance: 5060-5160
Duration: 4-5 Days
Recommendation:On the basics of Technical
and Fundamental analysis
we are Recommending buy
on deeps Castor Seed Jan
NCDEX around 4850 for the
target of 5060 5160 with a
strict a stop loss of 4680.
.
CASTOR SEED JAN DAILY TECHINICAL CHART

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