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Monday, February 19, 2018

Agro Commodity Update (19th Feb-2018)






Agro Commodity Update (19th Feb-2018) 


Fundamental Aspect:


Soybean futures traded higher on NCDEX, as participants expanded their holdings, supported by firming trend overseas due to lower stock-piles and fall in production. Besides, shortage of ready stocks in the market on restricted arrivals from growing regions, activated by strong demand for edible oils in spot markets, too added support to soybean prices.
Mentha oil futures traded lower on MCX, as speculators trimmed positions, driven by subdued demand from consuming industries at the spot market. Besides, ample stocks position on increased supplies from major producing belts of Chandausi in Uttar Pradesh too fuelled the downtrend. The contract for March was trading at Rs 1340.00, down by 0.99% or Rs 13.40 from its previous closing of Rs 1353.40. The open interest of the contract stood at 770 lots on MCX.



Technical Aspect  




Guar seed (March)

Image result for guar image


Our buy call from 4415—4430 has proven great.

Now what to expect?

Support is at 4350 and Resistance is 4500.

Break and sustain above 4500 will see further downside fall till 4570—4650 and then to 4700 mark in near term. 

Fresh selling only can be seen on close below  4350 mark

Trade with levels only.




Chana (March)

Image result for chana image


Support is 3750 and Resistance is 3900

Rally likely to continue till 3900. Break and sustain above  3850 will take it towards 3880—3950 mark in near term

Fresh selling can be seen on close  below  3750.

Trade with levels only.





RM Seed (April)

Image result for rm seed image


Support seen at 4050 and resistance is at 4200.

 Break and sustain above 4200 will take it to 4250--4300 and then 4380 mark.

Fresh selling can be initiated on close below 4050 mark.

Trade with levels only.




Soybean (March)

Image result for soybean image


Support seen at 3750 and Resistance is 3900.

 Break and sustain above  3750 will take it towards 3850—3930 mark in near term else could touch its support level of 3750 mark.

Fresh selling only can be seen on close below 3750.

Trade with levels only.




Castor Seed (March)

Image result for castor seed image


Support at 4150 and Resistance at 4250

Above 4250 rally likely to continue till 4250—4330 and then 4370++ mark else could touch its support level of 4150.

Fresh selling only can be seen on close below 4150.

Trade with levels only.






Cotton (March)

Image result for cotton  image



Support is 19800 and Resistance is 20300.

Below 19700 panic likely to continue till 19600—19400 and then 19300 mark in near term .

Fresh buying only can be seen on close above 20300.

Trade with levels only.




Jeera (March)

Image result for jeera  image



Support seen at 15800 and Resistance is at 16350

Below 15800 panic likely to continue till 15550—15300 mark in near term else could touch its resistance level of 16350 mark.
Fresh buying only can be seen above 16350 on closing basis.

Trade with levels only.





Turmeric (Apr)


Image result for turmeric  image



Support is 7230 while Resistance is 7380

Break and sustain above 7380 will take it towards 7450—7530 and then 7600 mark in near term else could touch its support of  level of 7230.

Fresh selling only can be seen on close below 7230.

Trade with levels only.





CPO (March)




Support seen at 535 while Resistance is 555.

Break and sustain below 535 will take it towards 510—495 mark in near term.

Fresh buying only can be initiated above 555 mark on closing basis.

Trade with levels only





















More Will update Soon!!!