NCDEX Soybean may fall till Rs 3725-3620

NCDEX soybean retraced 61.8 percent of the previous fall. The 61.8percent retracement mark usually acts as a reversal level and the same looks possible in this case as well. At that key Fibonacci level soybean has formed a bearish outside bar suggesting that bears are taking over. The daily momentum indicator has given a sell signal from oversold territory. Thus unless the high of Rs 4,136 is crossed, the commodity is expected to fall down till Rs 3,725-Rs3,620 from a short-term perspective, whereas the medium-term target will be Rs 3,350

AGRICOMMODITY NEWS

CHANA

Trend updated for-Apr/11/2013.CMP-3564 Overall trend of the Chana is bearish for medium-long term .Currently Chana is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The oscillator is showing BUY signal For short term Chana is in HOLD LONG position.Positionally Support for the Chana is 3502-3454-3421-3409-3396-.Resistance for the Chana is 3659-

Currently Chana is in HOLD LONG position In short term Chana is in strong up trend so hold with stop at 3547 The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 3602.6 with a stop at 3541.2 Below 3525.5 go for sell with stop at 3586.8
Intraday Resistance of CHANA are 3584.8/3602.1/3647.6/3663.6/3693.9/3724.3
Intraday Support of CHANA are 3543.2/3525.9/3499.8/3484.2/3454.8/3425.5

 JEERA

Trend updated for-Apr/11/2013.CMP-13685 Overall trend of the Jeera is bearish for medium-long term .Currently Jeera is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Support for the Jeera is 13354-13336-13238-13208-13145-.Resistance for the Jeera is 13778-

Currently Jeera is in HOLD LONG position In short term Jeera is in strong up trend so hold with stop at 13627 The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 14005.8 with a stop at 13511.5 Below 13365.4 go for sell with stop at 13859.1
Intraday Resistance of JEERA are 13816.5/13925.6/13977.1/14036.3
Intraday Support of JEERA are 13553.5/13444.4/13508.2/13450.2

 PEPPER

 

Trend updated for-Apr/11/2013.CMP-35940 Overall trend of the Pepper is bearish for medium-long term .Currently Pepper is moving sideways The oscillator is showing BUY signal .In last 1 month volatality is very less and fresh Buy can be considered in the Pepper if it close above36445 or buy with strict stop at 35019. The oscillator is showing BUY signal For short term Pepper is in HOLD LONG position.Positionally Support for the Pepper is 35659-35652-.Resistance for the Pepper is 36286-37172-37196-37233-

Currently Pepper is in HOLD SHORT position Pepper is moving sideways so short term investor better to buy only above 36300.0 or hold with stop at 35600.0 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 36373.5 with a stop at 35688 Below 35508 go for sell
Intraday Resistance of PEPPER are 36063.4/36165.9/36301.7/36397.1
Intraday Support of PEPPER are 35816.6/35714.1/35543.6/35449.4

AGRICOMMODITY

CHANA

  Trend updated for-Apr/10/2013.CMP-3573 Overall trend of the Chana is bearish for medium-long term .Currently Chana is in strong uptrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The oscillator is showing BUY signal For short term Chana is in HOLD LONG position.Positionally Support for the Chana is 3507-3431-3412-3401-3392-.Resistance for the Chana is 3664-

Currently Chana is in HOLD LONG position Chana is moving sideways so short term investor better to buy only above 3594.0 with stop at 3402.0 The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 3611.7 with a stop at 3550.2 Below 3534.5 go for sell
Intraday Resistance of CHANA are 3597.8/3618.4/3643.6/3659.5/3689.8/3720.3
Intraday Support of CHANA are 3548.2/3527.6/3495.9/3480.3/3450.8/3421.5 

  JEERA

 

Trend updated for-Apr/10/2013.CMP-13838 The Jeera is in perfect uptrend .Currently Jeera is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The oscillator is showing BUY signal For short term Jeera is in HOLD LONG position.Positionally Support for the Jeera is 13671-13346-13301-13201-13186-13141-. Immediate resistance for Jeera is 14021

Currently Jeera is in HOLD LONG position In short term Jeera is in strong up trend so hold with stop at 13597 Very Short term investor please cautious on Jeera as it is moving with low volatality The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 14161.8 with a stop at 13662.1 Below 13514.3 go for sell with a stop at 14013.5
Intraday Resistance of JEERA are 13908.5/13979.5/14097.4/14072.9/14132.3
Intraday Support of JEERA are 13766.5/13695.5/13577.6/13602.4/13544.2 

 

Trend updated for-Apr/10/2013.CMP-35895 Overall trend of the Pepper is bearish for medium-long term .Currently Pepper is moving sideways The oscillator is showing BUY signal .In last 1 month volatality is very less and fresh Buy can be considered in the Pepper if it close above36445 or buy with strict stop at 35019. The oscillator is showing BUY signal For short term Pepper is in HOLD LONG position.Positionally Support for the Pepper is 35644-35631-.Resistance for the Pepper is 36277-37219-37221-37232-

 PEPPER

Currently Pepper is in HOLD LONG position In short term Pepper is in strong up trend so hold with stop at 35673 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 36379.8 with a stop at 35617.5 Below 35411.9 go for sell with a stop at 36173.3
Intraday Resistance of PEPPER are 36075.2/36255.4/36554.6/36326.9/36422.2
Intraday Support of PEPPER are 35714.8/35534.6/35235.4/35568.5/35474.2

NCDEX Pepper may slip to Rs 33450

Sharekhan has come out with its report on Pepper. According to the research firm, the daily momentum indicator has completed its pullback cycle. Thus the risk-reward ratio is very much favorable for initiating fresh short position in NCDEX Pepper. The equality target on the downside would be Rs 33450.

For the last few weeks NCDEX pepper has been trading in between the daily, middle and lower Bollinger Bands. In terms of price pattern this sideways activity has taken form of a bearish triangle. The daily momentum indicator has completed its pullback cycle. Thus at this level the risk-reward ratio is very much favorable for initiating fresh short position. The reversal can be placed above the swing high i.e. Rs 36,200. The equality target on the downside would be Rs 33, 450.
http://www.moneycontrol.com/news/brokerage-recos-commodities/ncdex-pepper-may-slip-to-rs-33450-sharekhan_849380.html

Agricommodity trend

 CHANA

Trend updated for-Apr/09/2013.CMP-3573 Overall trend of the Chana is bearish for medium-long term .Currently Chana is in strong uptrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The oscillator is showing BUY signal For short term Chana is in HOLD LONG position.Positionally Support for the Chana is 3511-3409-3403-3394-3389-.Resistance for the Chana is 3669-

Currently Chana is in HOLD LONG position Chana is in sideways and sellers was at high so for short term better buy above 3611.2 or hold with stop at 3402.0 The next resistance will be at 3594.0 The oscillator is showing BUY signal
Intraday Trend- Buy is advised only above 3611.2 with a stop at 3550.4 Below 3535 go for sell and put stop at 3595.6
Intraday Resistance of CHANA are 3604.5/3630.6/3658.2/3688.5/3718.9
Intraday Support of CHANA are 3541.5/3515.4/3494.6/3479/3449.5/3420.2

PEPPER

Trend updated for-Apr/09/2013.CMP-35650 Overall trend of the Pepper is bearish for medium-long term .Currently Pepper is moving sideways The oscillator is showing BUY signal .In last 1 month volatality is very less and fresh Buy can be considered in the Pepper if it close above36370 or buy with strict stop at 34840. The oscillator is showing BUY signal For short term Pepper is in HOLD LONG position.Positionally Immediate support for Pepper is 34840.Resistance for the Pepper is 35886-35887-36267-37200-37240-37302-

Currently Pepper is in HOLD LONG position Pepper is moving sideways so short term investor better to buy only above 36200.0 with stop at 35455.0 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 36131.5 with a stop at 35374.4 Below 35170.2 go for sell
Intraday Resistance of PEPPER are 35814.2/35950.4/36095.6/36190.7
Intraday Support of PEPPER are 35485.8/35349.6/35339.7/35245.8 

 JEERA

Trend updated for-Apr/09/2013.CMP-13692 Overall trend of the Jeera is bearish for medium-long term .Currently Jeera is in strong uptrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The oscillator is showing BUY signal For short term Jeera is in HOLD LONG position.Positionally Support for the Jeera is 13357-13219-13160-13150-13134-.Resistance for the Jeera is 13784-

Currently Jeera is in HOLD LONG position Jeera has crossed the high but the trend was not strong and sellers was at high so for short term better buy above 14013.5 with stop at 13007.5 The oscillator is showing BUY signal
Intraday Trend- Buy is advised only above 14013.5 with a stop at 13518.9 Below 13372.7 go for sell and put stop at 13866.7
Intraday Resistance of JEERA are 13766.5/13840.5/13963.4/13903.2/13962.2
Intraday Support of JEERA are 13618.5/13544.5/13421.6/13435.5/13377.6

Buy Pepper above Rs 36200: Geojit Comtrade

Geojit Comtrade has come out with its report on agricultural commodities. The research firm has recommended to buy Crude Palm Oil and buy Pepper above Rs 36200 in its report dated April 05, 2013.

CPO Apr MCX: Prices flew higher from a low of 459.20 and closed the day at 465.90 levels. It broke the triangular pattern with streaming volume at 463 and if stabilizes above the same, could reemerge buying towards 467.50/470 levels in the immediate run. Moreover, the oscillators are positioning for a major take off. However, any trades below 458 could negate the current bullish outlook.

Pepper May NCDEX: Prices have been consolidating within the range of 36150-35500 levels for the last one week. It has to break and sustain above the key resistance of 36150 for re-starting the next leg of bullish rally towards 36500/36900 levels. Unsuccessful attempts to trade above 36100 would see selloff towards 35350/35000 levels. Daily RSI is sending neutral signal to the market and hence a choppy session expected ahead.

Menthaoil Apr MCX: Sideways price action during the day.

Refined Soy oil May NCDEX: Consistent trades above 696 could see a rally towards 700/705 levels.

NCDEX Soy oil fut has resistance at Rs 687.98

Fortune Financial Servies has come out with its report on agro commodities. According to the research firm, NCDEX Soy oil future contract is expected to remain positive on chart, traders can buy. Intraday resistance is seen near Rs 687.98, Rs 691.07 & Rs 693.93 . Intraday support is seen near Rs 682.03, Rs 679.17 & Rs 676.08.

Soybean and soyoil futures on National Commodity and Derivatives Exchange ended down tracking weakness in their global peers on Chicago Board of Trade, where higher-than-expected soybean stocks in US continued to weigh on prices.

Mustard futures on NCDEX also ended down on expectation of a surge in arrivals later this week as activities have resumed after the Holi festival.
Most chilli contracts on NCDEX reversed intraday trend to end higher dueto short covering and bargain buying. Chilli futures had fallen earlier today due to high supplies in the spot market.

Most coriander futures ended up over 2 percent taking cues from spot prices, which gained on strong demand from stockists coupled with lower arrivals.
Jeera futures ended lower due to rising new crop arrivals amid subdued demand. Higher production estimates for this year also weighed on the commodity.

Pepper futures ended lower due to higher arrivals in major spot markets amid poor demand by domestic buyers.

Positional View: Soybean futures on National Commodity and Derivatives Exchange are likely to trade within a narrow range in the coming week as buyers may refrain from buying at higher levels. Though shipping delays in Brazil and likely increase in demand for US soy are lending a bullish tint to soybean prices, high US stockpiles and decreased investor appetite in the local markets would keep prices on a leash.

Technical Analysis

NCDEX Soy oil future contract is expected to remain positive on chart, traders are advised to buy and intraday resistance is seen near 687.98 , 691.07 & 693.93 . Intraday support is seen near 682.03 679.17 & 676.08

NCDEX Soy bean future contract is expected to remain positive on chart, traders are advised to buy and intraday resistance is seen near 3663.83 , 3687.67 & 3711.83 . Intraday support is seen near 3615.83 3591.67 & 3567.83
( http://www.moneycontrol.com/news/brokerage-recos-commodities/ncdex-soy-oil-fut-has-resistance-at-rs-68798-fortune-fin_845579.html)