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MARKET WRAP.
Castor seed recovers on fresh buying:-NCDEX Castor seed October contract
is closed up by 2.7% on Wednesday
Chili hit lower circuit of 4% today’s trading session.
NCDEX Soy Oil October contract closed @653.00 up by 1.2% on Wednesday. open:
650 High:659.55 Low:650 Close: 653.50
NCDEX guar seed October contract closed up by +90 on Wednesday. And
registering profit of 2.1% open: 3086 High:3162 Low:3317 Close:3157
Turmeric august contract has lost 2%.on Wednesday.
INTRADAY VIEW.
NCDEX Soybean, Soy Oil negative on weak fundamentals; further short
covering expected: both Soybean and Soy Oil prices on NCDEX are exhibiting
positive trend only due to short covering. Over all fundamentals look negative.
NCDEX Jeera for August delivery may trade positive on Thursday.
Resistance: 13190, 13320.
Support: 12700, 12665
The trend in NCDEX coriander futures for August delivery is negative; however,
further short covering is expected at current levels.
NCDEX Turmeric for August delivery may trade negative on Tuesday Resistance: 5300,
5420 Support: 5050, 5010.
NCDEX August Chana is going down continuously and making lower lows (hit 2
years low) however the momentum indicator is making higher low indicating
divergence. There is probability of trend reversal to the upside.
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COMMODITY CONTRACT RESISTANCE SUPPORT TREND STRATAGEY
JEERA UNJHA August R1:13250
R2:13590
S1: 12750
S2:12580
CONSOLIDATE SELL ON HIGH
CASTORSEED August R1:3360
R2: 3465
S1:3120
S2:2990
BEARISH SELL ON HIGH
GUARSEED October R1: 5335
R2: 5465
S1:4000
S2: 3860
CONSOLIDATE BUY ON DIPS
REFINED OIL October R1: 660.00
R2:665.00
S1: 648.00
S2: 635.00
BEARISH SELL ON HIGH
CHANA August R1: 2850
R2: 3120
S1:2555
S2: 2510
BEARISH SELL ON HIGH
RMSEED August R1:3190
R2:3320
S1:3000
S2:2820
BEARISH SELL ON HIGH
CHILLI August R1:5630
R2:5720
S1:5300
S2:5260
BULLISH BUY ON DIPS
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