Weekly Ncdex Report

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  • 8/10/2019 Weekly Ncdex Report

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    05/01/2015

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    SYBE N FEB D ILY TECHNIC L CH RT

    Date and Time

    05/JAN/2015

    STOCK: Soybean Feb

    Call: BUY

    CMP: 3481Initiation 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.

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    Date and Time

    05/Jan/2015

    STOCK: Guar seed

    FebCall: 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.

    GU RSEED FEB D ILY TECHNIC L CH RT

    CCH TECHNIC LCH RT

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    Date and Time

    05/Jan/2015

    STOCK: Cardamom JanCall: 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 AN

    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 1018levels 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 o

    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.

    C RD MOM J N D ILY TECHINIC L CH RT

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    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

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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 theproduct/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, donot vouch for the accuracy or the completeness thereof. This material is for personal information

    and we are not responsible for any loss incurred due to it & take no responsibility whatsoever for

    any financial profits or loss which may arise from the recommendations above.