Ncdex Commodity Trading Tips 07 Apr
SOYABEAN
TECHNICAL OUTLOOK:
On the technical charts, Soyabean may futures trend is sideways to
bullish where it has resistance at 4430 on an intraday basis & 4340
is an immediate support. Soyabean closed at 4399. Momentum indicator RSI
is currently positively biased & is indicating bullish trend in the
commodity. Traders can take a buy position at around 4365 with a stop
loss of 4340 for the day target of 4420.
FUNDAMENTAL OUTLOOK:
Soyabean exports from US continue to the Chinese Markets. Unfavorable
weather conditions can create volatility in the price of Soyabean.
CHANA
TECHNICAL
OUTLOOK: From an intraday perspective, chana may contract will trade on
a neutral bearish note. A crucial support is seen around 3150 &
resistance is placed at 3250. Yesterday, Chana closed at 3206. Intraday
traders can take a sell position in chana around 3220 with a stop loss
at 3250 & a day target of 3150. On the daily chart, momentum
indicator RSI is negetively biased indicating a bearish trend in the
commodity.
NCDEX COMMODITY TRACKER
SOYABEAN MAY
Support: 4350/4370
Resistance: 4430/4450
CHANA MAY
Support: 3150/3175
Resistance: 3220/3250
CORIANDER MAY
Support: 9210/9270
Resistance: 9350/9390
TURMERIC MAY
Support: 6110/6160
Resistance: 6260/6305
JEERA MAY
Support: 9780/9850
Resistance: 10000/10090
KAPAS
Support: 795/806
Resistance: 812/818
COTTON MCX
Support: 20150/20300
Resistance: 20520/20600
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