NCDEX Report Cardamom Oct MCX: Cardamom prices opened lower at 740.10, made a high of 752, and later closed the day at 745.40. As long prices moves below the 13 day EMA resistance at 765, could see continuation of downside moves to 740 and then to 720 levels. However, if prices break and sustain above 770, could extend the short covering rallies to 780/795 levels. Major upside moves would trigger only above 805 regions. Soybean Oct NCDEX: Soybean traded higher and finally closed at 3464 levels. Prices have to break above 3470 with sufficient spurt in volume for the buying momentum to continue towards 3500 followed by 3530/3561 levels in the immediate run. This is also supported by positive daily RSI (14) oscillator. On the other side, inability to break above 3470 could see slippage towards 3425/3390 levels. Refined Soy oil Oct NCDEX: Prices need to break above 669 for the buying momentum to continue towards 671/676 levels. RMseed Oct NCDEX: While above the upper obstacle of 3534, expect to push prices higher towards 3600 levels. Strategies: Buy Refined Soy oil above Rs 669 Buy Soybean above Rs 3470 Buy RMSeed on dips
Posted on: Fri, 27 Sep 2013 06:06:43 +0000
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