29/01/2015

Date and Time

REF SOY OIL FEB NCDEX

29/JAN/2015

Ref Soy Oil Feb NCDEX: Prices rebounded firmly from the support of 609 levels on dated 27

STOCK: Ref Soy Oil

January 2015, prices traded choppy in previous session made high of 628.50 levels and finally

Feb

closed at lower around 719 levels as improved domestic market demand kept trend up. Prices

Call: BUY

are still strongly held the base support of 610, but major upside views are seen only once it

CMP: 719

clears the technical resistance of 645 (at closing basis) towards 657/682 levels. Moreover, an

Initiation Level:

increase in volume along with OI would support the upward bias. However, unable to do so

Above 630

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

Book Profit (Level 1):

horizontal support of 607 that could negate present uptrend in the near term. India imported

642.

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

Book Profit (Level 2):

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

648

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

Stop Loss Below: 626

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

Conviction Level:

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

Moderate Risk.

630 could see upward bias towards 642 followed by 648 for the day.

Reasoning. (Read
Technical
commentary).
Short term Trend:
Bullish.
Medium Term Trend:
Bullish.
For the Traders: BUY
For Aggressive
Traders: BUY
Support: 621-613-606
Resistance-635-645653
Duration: 4-5 Days
Recommendation:On the basics of technical
and Fundamental analysis
we are Recommending to
BUY Ref Soy Oil Feb above
(635) with the Stop Loss
of below 625 for the
Target of 645and 659.
REFSOYOIL FEB DAILY TECHNICAL CHART

Date and Time

MENTHA OIL FEB

29/Jan/2015

Mentha Oil Feb Prices failed to recover firmly from the 200 SMA resistances of 749.50 on

STOCK: Mentha Oil Feb

dated 27 January 2015, made low of 738.10 levels in previous day and finally closed lower

Call: BUY

around 740 levels. As subdued domestic market demand kept trend down. There are reports

CMP: 740

of pickup in demand at these levels but with high stocks, the uptrend gets limited. The winter

Initiation Level: Around

season export and domestic demand were expected to pick up in the past few weeks. Latest

730

reports from Spice Board indicate that for the period April December last year, exports for

Book Profit (Level 1):

Mint value-added products like Oil, Menthol and its crystals rose 94% in volumes at 17,850

750

tonnes and 39% in value at Rs 2202 Cr w.r.t. same period the previous year. Banning of Gutka

Book Profit (Level 2):

in some states continues having negative impact on Mentha Oil demand. However, the volume

762

is seen steadying these days along with a decline in OI suggests a downside directive moves.

Stop Loss: Below 716

On the other side, if prices breach 200 SMA resistance of 750 in closing basis could turn the

Conviction Level:

outlook into positive territory in the near term. Hence, we recommend buy on deeps around

Moderate Risk.

730 levels could see upward bias towards 750 followed by 762 for the day.

Reasoning. (Read
Technical commentary).
Short term Trend:
Bullish.
Medium Term Trend:
Bullish.
For the Traders: BUY
For Aggressive Traders:
BUY
Support: 730-716-702
Resistance-749- 760775
Duration: 4-5 Days
Recommendation:On the basics of Technical
and Fundamental analysis
we are recommending BUY
Mentha Oil Feb around 730
for the target of 760 800
with a strict stop loss of 709.

MENTHA OIL FEB DAILY TECHNICAL CHART

CCHATECHNICALCHART

CASTOR SEED FEB NCDEX

Date and Time

29/Jan/2015

Castor Seed Feb NCDEX: Prices slumped previous couple of sessions from the high of 4857
STOCK: Castor Seed Feb

dated 06 January 2015, made low of 4001 level in previous session and prices traded choppy

Call: SELL

in previous day later finally closed lower at 4110 levels. Castor seed February as weak

CMP: 4110

domestic market demand high stocks and bearishness in International markets kept pressure

Initiation Level: Below

on the domestic market sentiments. The higher rates were not sustainable for Castor seed

4050

even as traders anticipate demand to rise in coming weeks that could support the prices at

Book Profit (Level 1):

these levels. Lower production prospects in International markets will firm up prices as any

3950

import would get costlier.

Book Profit (Level 2):

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

3810

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

Stop Loss: Above 4180

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

Conviction Level:

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

Moderate Risk.

February contract. Hence, we recommend sell only a voluminous break below 4050 could see

Reasoning. (Read

downside bias towards 3950 followed by 3810 for the day.

Technical commentary).
Short term Trend:
Bearish.
Medium Term Trend:
Bearish.
For the Traders: SELL
For Aggressive Traders:
SELL
Support: 4080-39403810
Resistance: 4180-4260
Duration: 4-5 Days
Recommendation:On the basics of Technical
and Fundamental analysis
we are Recommending sell
Castor Seed Feb NCDEX
below 4050 for the target of
3900 3760 with a strict
stop loss above 4230.

CASTOR SEED FEB DAILY TECHINICAL CHART

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