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.
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.
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