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