Weekly ncdex report 5-1-2015

6
05/01/2015

Transcript of Weekly ncdex report 5-1-2015

Page 1: Weekly ncdex report 5-1-2015

05/01/2015

Page 2: Weekly ncdex report 5-1-2015

SYBEAN FEB DAILY TECHNICAL CHART

Date and Time

05/JAN/2015

STOCK: Soybean Feb

Call: BUY

CMP: 3481

Initiation Level:

Above 3440-3450

Book Profit (Level

1): 3590

Book Profit (Level

2): 3780

Stop Loss: 3290

Conviction Level:

Moderate Risk.

Reasoning. (Read

Technical

commentary).

Short term Trend:

Bullish.

Medium Term

Trend: Bullish.

For the Traders: BUY

For Aggressive

Traders: BUY

Support: 3240-3150-

3030

Resistance-3450-

3700-3900

Duration:4-5 Days

Recommendation:-

On the basics of technical

and Fundamental

analysis we are

Recommending to buy

Sybean Feb above (3440-

3450) with the Stop Loss

of 3290 for the target of

3580 and 3780.

SOYBEAN FEB NCDEX

Soybean Feb NCDEX: Prices traded choppy and finally closed at higher at 3481 levels. Prices are

still strongly held the base support of 3400, but major upside views are seen only once it clears

the technical resistance of 3550 towards 3620/3780 levels. Moreover, an increase in volume

along with OI would support the upward bias. However, unable to do so could see a range bound

market and major weakness is seen only if prices rupture bottom horizontal support of 3400

that could negate present uptrend in the near term. Reports on govt sources India hiked import

duty on Crude Edible Oil from 2.5% to 7.5% and on Refined Edible Oil to 15% from 10% to

protect local farmers. Firmness in International markets amidst rising Festive season demand in

the domestic market ensured prices remained firm for Soybean. Traders anticipate that with

prices having fallen a lot over last few weeks, further fall in rates may be limited provided some

support is here on the International and domestic front. Hence, we recommend buying only a

voluminous break above 3550 for the week.

buy above 3550 for the week.

Page 3: Weekly ncdex report 5-1-2015

Date and Time

05/Jan/2015

STOCK: Guar seed

Feb

Call: BUY

CMP: 4585

Initiation Level:

AROUND 4450

Book Profit (Level 1):

4780

Book Profit (Level 2):

5060

Stop Loss Below: 4040

Conviction Level:

Moderate Risk.

Reasoning. (Read

Technical commentary).

Short term Trend:

Bearish.

Medium Term Trend:

Bearish.

For the Traders: BUY

For Aggressive

Traders: BUY

Support: 4430-4230-

4030

Resistance-4850-

5060-5280

Duration: 4-5 Days

Recommendation:-

On the basics of Technical

and fundamental analysis

we are Recommending Buy

Guar seed Feb around

4450 for the target of 4780

– 5060 with a strict stop

loss of 4240.

GUARSEED FEB NCDEX

Guar seed Feb NCDEX: Prices traded with high volatility as prices continued to trade lower in

past few sessions from 4961 to made low 4470 in previous session and finally closed around

4585 levels. At 4900 levels could subdued domestic demand kept trend sideways.

As per trader estimates however, production this year is expected

43% lower at 12.5 MMT due to erratic rains. Total arrival is around 1.25 lakh bags, 0.4-0.5 lakh

bags down from previous year. This could support prices in medium term when exports pick

up. A significant fall in Crude Oil prices kept trend weak for Guar Seed even as other Agri

commodities shot up. Even as there are reports of prices being at very low levels, any strong

recovery in Crude Oil can ensure Exports picking up. But a recovery in Crude prices is needed

for Guar to bounce back strongly. For the week, any break above the resistance of 4950 could

see upside bias towards 5030 followed by 5260 levels. However, the volume is seen increase

these days along with an increase in OI suggests an upside directive moves. On the other side, if

prices breach the support of 4400 could turn the outlook into negative territory in the near

term.

Hence, we recommend buy on deeps around 4450 for the week.

GUARSEED FEB DAILY TECHNICAL CHART

CCHATECHNICALCHART

Page 4: Weekly ncdex report 5-1-2015

Date and Time

05/Jan/2015

STOCK: Cardamom Jan

Call: SELL

CMP: 1018

Initiation Level: Around

1100

Book Profit (Level 1):

1060

Book Profit (Level 2):

960

Stop Loss: Above 1140

Conviction Level:

Moderate Risk.

Reasoning. (Read

Technical commentary).

Short term Trend:

Bullish.

Medium Term Trend:

Bullish.

For the Traders: SELL

For Aggressive Traders:

SELL

Support: 990-930-880

Resistance-1110 - 1161

Duration: 4-5 Days

Recommendation:-

On the basics of Technical

and Fundamental analysis

we are Recommending sell

Cardamom Jan on around

1100 for the target of 1060

– 960 with a strict stop loss

of 1150.

CARDAMOM JAN

Cardamom Jan: Prices fired previous couple of session dated 24 dec from the low of 916, made

high 1097 in past session. Cardamom prices traded choppy and later closed at lower 1018

levels in previous day. Cardamom futures will slump on long liquidation trigged by strong

availability. Cardamom futures are expected to remain weak on strong arrivals and any upside

is not sustainable considering the present scenario. Cardamom as weak domestic market

demand, high stocks and bearishness in International markets kept pressure on the domestic

market sentiments. Last few days added further to the buying atmosphere. Prices are however

at strong psychological Resistance level of 1100 for January contract. For the week, any break

below of 990 could see downward bias towards 964 followed by 920. Analysts said offloading of

positions by speculators, driven by sufficient stocks position in the spot markets on increased

arrivals from producing belts, mainly pulled down cardamom prices in futures trade.

Hence, we recommend selling only around 1100 for the week.

CARDAMOM JAN DAILY TECHINICAL CHART

Page 5: Weekly ncdex report 5-1-2015

CHANA (Feb) CASOTOR SEED (Feb)

DHANIYA (Apr) JEERA (Feb)

TURMERIC (APR) SYBEAN (Feb)

RM SEED (Apr) SYOIL (Feb)

•BULLISH

•SELL ON RISE

Trend

Strategy

•3850

•3700Resistance

•3450

•3280Support

•BULLISH

•BUY ON DEEPS

Trend

Strategy

•5080

•4840Resistance

•4700

•4520Support

•BEARISH

•SELL ON RISE

Trend

Strategy

•8480

•8290Resistance

•7800

•7630Support

•BULLISH

•BUY ON DEEPS

Trend

Strategy

•17300

•16480Resistance

•15230

•14890Support

•BULLISH

•SELL ON RISE

Trend

Strategy

•10080

•9700Resistance

•9180

•8780Support

•CONSOLIDATE

•BUY ON DEEPS

Trend

Strategy

•3700

•3550Resistance

•3400

•3280Support

•BULLISH

•BUY ON DEEPS

Trend

Strategy

•3850

•3680Resistance

•3460

•3360Support

•BULLISH

•BUY ON DEEPS

Trend

Strategy

•780

•752Resistance

•732

•710Support

TECHNICAL LEVELS

Page 6: Weekly ncdex report 5-1-2015

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reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the

product/s that suits them the most.

*Investment is subject to market risks.

Sincere efforts have been made to present the right investment perspective. The information

contained herein is based on analysis and on sources that we consider reliable. We, however, do

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