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)

AGRI TREND 28/03/2013

CHANA
Intraday Trend- Buy is advised only above 3384.2 with a stop at 3340.1 Below 3329.9 go for sell and put stop at 3373.9 Intraday Resistance of CHANA are 3377.4/3394.3/3420.6/3436/3465.4/3494.9 Intraday Support of CHANA are 3336.6/3319.7/3277.5/3262.4/3233.9/3205.6

JEERA

Intraday Trend- Buy is advised above 13165.3 with a stop at 12930.8 Below 12870.2 go for sell
Intraday Resistance of JEERA are 13139/13239.8/13228.2/13285.8
Intraday Support of JEERA are 12896/12795.2/12772.1/12715.7 

PEPPER

Intraday Trend- Buy is advised above 35809.7 with a stop at 35235.3 Below 35091.4 go for sell
Intraday Resistance of PEPPER are 35738.2/35977.5/35892.9/35987.7
Intraday Support of PEPPER are 35161.8/34922.5/35139.1/35045.4 

 TURMERIC

Intraday Trend- Buy is advised only above 6713.5 with a stop at 6453 Below 6375.1 go for sell and put stop at 6635.3
Intraday Resistance of TURMERIC are 6603.9/6653.5/6681.1/6722.1
Intraday Support of TURMERIC are 6484.1/6434.5/6398.1/6358.2/6318.4

NCDEX Chana to trade with negative bias

According to NCDEX Gram chana April contract chart. We can observe that Gram chana was trading in an upward sloping channel, which has broken on the downside. It faced resistance around the 40-daily exponential moving average and has seen sharp sell-off from those levels.

In the last trading session it broke the crucial support placed at the 20-daily simple moving average (DSMA) ie., Rs 3,380.  The daily momentum indicators have a negative crossover and it is also trading below the 20-and 40-daily moving averages. We expect the agri-commodity to trade with a negative bias for a target of Rs 3,286, which is the previous swing low. The reversal of the bearish stance is placed above the 20-DSMA ie., Rs 3,380.

NCDEX:

Turmeric Apr NCDEX: Turmeric prices made a sparkling comeback from 6600 and closed the day at 6854 levels. For the day, expect to see an initial dip to 6790 and a turn higher targeting 6898, followed by 6980 levels. With prices taking support of the 22 day EMA, bulls seem active for the day. Conversely, a deep correction cannot be ruled out if prices smash below 6720 extending towards 6600 levels.

Soybean Apr NCDEX: Sustained trades above 3520 could see bullish wave towards 3550 and then to 3599 levels.

Pepper Apr NCDEX: A choppy trading session was witnessed yesterday and trades finally closed positively at 35555. It has to clear the resistance of 35750 for the buyers to take further control targeting 36000, followed by 36300/36500 levels. On the lower side, inability to trade above 35750 could see selloffs towards 35300-35000 regions. Meanwhile, the daily MACD histogram shows a passive positive approach for the prices.

SugarM 200 Apr NCDEX: Consistent trades below 3000 could see fall towards 2945 levels.

Sell MCX Mentha Oil Future

Mentha oil arrivals in the Sambhal market of Uttar Pradesh are estimated at 25 drums (1 drum=180 kg) so far today, down from 30 drums on Tuesday.  The price of the commodity fell to 1,180 rupees per kg from 1,200 rupees per kg Tuesday due to weak demand.  On MCX, the near-month March mentha oil contract traded at 1,122.60 rupees per kg, down 22 rupees from the previous close, while the April contract fell 19.40 rupees to 1,130 rupees.

Technical:  

MCX Mentha Oil future contract is expected to remain Negative on chart, traders are advised to sell and intraday resistance is seen near 1135.53, 1145.07 & 1156.13. Intraday support is seen near 1114.93 1103.87 & 1094.33.

NCDEX Pepper Apr Fut to trade with negative bias

According to NCDEX Pepper April contract chart, Pepper was trading in a counter trend rally retracing the recent fall. For the past few trading sessions it has seen selling pressure from the upper Bollinger Band, and has also broken the previous swing low which indicates weakness in the agri-commodity.


The momentum indicators have a negative crossover and are also trading below the 20-and 40-daily moving averages. Thus considering all the above factors we expect pepper to trade with a negative bias for a target of Rs33,820, which is the weekly lower Bollinger Band. The reversal of the bearish stance is placed above Rs36,581, which is the 20-daily simple moving average

AGRI TREND

  Pepper

Intraday Trend- Buy is advised only above 36245.5 with a stop at 35010.8 Below 34647.4 go for sell and put stop at 35880.7
Intraday Resistance of PEPPER are 35782.8/36063.1/35715.3/35809.9
Intraday Support of PEPPER are 35107.2/34826.9/34963.4/34869.9 

JEERA

 

Intraday Trend- Buy is advised only above 13294.8 with a stop at 12937.5 Below 12836 go for sell and put stop at 13193
Intraday Resistance of JEERA are 13164.5/13247/13257.6/13315.3
Intraday Support of JEERA are 12965.5/12883/12801/12744.5 

CHANA

 

Intraday Trend- Buy is advised only above 3467.5 with a stop at 3413.9 Below 3400.6 go for sell and put stop at 3454.2
Intraday Resistance of CHANA are 3460.6/3482.6/3509/3538.6/3568.4
Intraday Support of CHANA are 3407.4/3385.4/3348.8/3333.5/3304.7/3276

AGRICOMMODITIES TREND

PEPPER  

Intraday Trend- Buy is advised above 37011.1 with a stop at 35901.9 Below 35581.4 go for sell
Intraday Resistance of PEPPER are 36585.8/36876.6/37359.4/36816.1/36912.1
Intraday Support of PEPPER are 36004.2/35713.4/35230.6/36052.6/35957

CHANA
Intraday Resistance of CHANA are 3426.4/3449.1/3484.2/3499.8/3529.5/3559.3
Intraday Support of CHANA are 3371.6/3348.9/3324.6/3295.8/3267.2 

 JEERA

Intraday Trend- Buy is advised above 13305 with a stop at 12947.4 Below 12845.9 go for sell
Intraday Resistance of JEERA are 13165/13255/13404.4/13296.3/13354
Intraday Support of JEERA are 12985/12895/12745.6/12839/12782.5 

 TURMERIC

Intraday Trend- Buy is advised above 6656.5 with a stop at 6511.4 Below 6471.8 go for sell
Intraday Resistance of TURMERIC are 6603.6/6643.2/6708.9/6747.3/6788.4
Intraday Support of TURMERIC are 6524.4/6484.8/6419.1/6422.7/6382.7

NCDEX Castor Seed support at 3620; resistance 3665

Castor seed futures have good support at 3620 level, and closing below this level may lead the prices to test 3540 in short term,” said Melbin Noble, Commodity Analyst at Commodity Online recting to the castor trend on NCDEX.

NCDEX Pepper: More upside expected in medium term

Investors are advised to buy pepper above Rs.37000 with stop loss of Rs.36450 for target of Rs.37600,” he said.