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Sep 03, 2012

Oilseed and Edible Oil Complex: Soybean/ RM Seed/ Soyoil Soybean

Technical Outlook
Soybean Oct12, futures prices surged by 50.50 rupees to close at Rs 3998 levels. Upside movement was not supported by volumes. Resistance is at Rs 4031 levels violation of this it could extend to Rs 4066 levels. Support is at Rs 3945 levels breach of this level, then it could correct to Rs 3895 levels. RSI is showing sign of weakness. Traders are advised to continue with sell.

Commodity Soybean Oct12

Strategy Sold

Entry 3976

Target-1 3910

Target-2 3876

Stop Loss 4026

Rape/ Mustard Seed

Technical Outlook
RM Seed Oct12, futures prices marginally moved up by 23 rupees to settle at Rs 4475 levels. Entry got initiated now traders are advised to continue with long position. Resistance is at Rs 4486 levels violation of this it could extend to Rs 4518 levels. .Support is at Rs 4440 levels breach of this level, then it could correct to Rs 4410 levels. MACD is signaling upward movement. RSI-14 is in oversold territory but not yet give any sign of reversal. Traders are advised to continue with long position.

Commodity RM seed Oct12

Strategy Bought

Entry 4494

Target-1 4538

Target-2 4565

Stop Loss 4448

Emkay Commotrade Limited

Agri Daily Agri Daily

Agri Daily

Soyoil
Technical Outlook
NCDEX Soyoil Oct12, futures prices moved up significantly to settle at Rs 803.7 levles. Prices were still unable to clear the descending trendline resistance. Upside movement witnessed low trading activities. Resistance is at Rs 807.7 levels violation of this it could extend to Rs 811.7 levels. Support is at Rs 797 levels breach of this level then it can test next support of Rs 789 levels. RSI-14 is in the middle region. Wait for technical confirmation to take position.

Commodity Soyoil Oct12

Strategy Stay away

Entry

Target-1

Target-2

Stop Loss

Cottonseed Oilcake
Technical Outlook
Cottonseed Oilcake Dec12, futures marginally moved up to close at Rs 1571 levels. Cottonseed Oilcake prices traded with in narrow range. Upside movement was not welcomed by high trading activities. Resistance is at Rs.1580/quintal and at Rs.1600/quintal with support at Rs.1530/quintal and at Rs 1500/quintal. While momentum indicators signal mixed price trend. Traders are advised to continue with sell position.

Commodity Cottonseed oilcake Dec12

Strategy
Sold

Entry 1570/1580

Target-1 Target-2 Stop Loss 1520 1500 1600

Emkay Commotrade Limited

Grains Complex: Maize/ Wheat Maize

Technical Outlook
Maize Oct12, futures prices traded on bearish note to close at Rs 1499 levels. Downside movement was unsuccessful in violating trendline support. Prices could escalate to Rs 1552 levels breach of this it could extend to Rs 1566 levels. Support is witnessed at Rs 1498 levels violation of this could correct to next support of Rs 1474 levels. MACD is showing the sign of bullish ahead of the session. Traders are advised to continue with long position.

Commodity Maize Oct12

Strategy Bought

Entry 1519

Target-1 1552

Target-2 1564

Stop Loss 1486

Wheat
Technical Outlook

Wheat Oct12, futures prices marginally corrected to close at Rs 1554 levels Market is facing firm resistance at Rs 1568 levels. Prices could not breach the falling trendline resistance. Upside movement was not supported by volumes. Resistance is seen at Rs 1548 levels breach of this level then it can test Rs 1586 levels. Support is at Rs 1518 breach of this level, then it could correct to Rs 1498 levels. Traders are advised to hold short position.

Commodity Wheat Oct12

Strategy Sold

Entry 1548

Target-1 1518

Target-2 1498

Stop Loss 1586

Emkay Commotrade Limited

Pulses: Chana
Technical Outlook
Chana Oct12, futures prices moved up to close at Rs 4808 levels. Market witnessed low trading activities for upside movement. Prices to face resistance to Rs 4795 levels breach of this it could extend to Rs 4874 levels. Support is at Rs 4698 levels and next support is at Rs 4648 levels. RSI-14 is trading in oversold territory to signal continuation of downward trend. Traders are advised to continue with short position.

Commodity Chana Oct12

Strategy Sold

Entry 4812

Target-1 4725

Target-2 4678

Stop Loss 4868

Others: Gur
Technical Outlook
Gur Nov12 futures price marginally moved up to close at Rs 1190.5 levels. Prices to trade steady as long 50day EMA support of Rs.1170/40kg is valid. Resistance is at Rs.1200/40kg and Rs.1220/40kg, while the support is at Rs.1170/40kg and at Rs.1160/40kg. While momentum indicator signal oversold condition which could induce short covering. Traders are advised to hold the suggested long.

Commodity Gur Nov12

Strategy Bought

Entry 1185

Target-1 1215

Target-2 1220

Stop Loss 1170

Emkay Commotrade Limited

Jeera
Technical Outlook
Jeera Oct12, futures prices traded on negative note to close at Rs 14825 levels. Prices closed at same level as that of previous day close. Resistance is at Rs 15189 levels violation of this it could extend to Rs 15465 levels. Support is at Rs 14710 levels breach of this level, then it could correct to Rs 14404 levels. MACD is giving negative signal Prices have settled exactly above the falling trendline support. So wait for more clarity to take position.

Pepper
Technical Outlook
Pepper Oct12, prices traded with in the range bound and finally closed at Rs 42605 levels. Prices to retain similar support and resistance on range bound movement. Resistance is at Rs 43145 levles violation of this it could extend to Rs 43520 levels. Support is at Rs 42425 levels breach of this level, then it could correct to Rs 42185 levels. MACD is signaling upward movement. RSI is indicating prices to trade higher. Traders are to hold suggested long position.

Commodity Jeera Oct12 Pepper Oct12

Strategy Stay away Bought

Entry

Target-1

Target-2

Stop Loss

42435

43145

43510

42090

Emkay Commotrade Limited

Chilli
Technical Outlook
Chilli Oct12, Futures prices rose by 64 rupees to close at Rs 5394 levels. Market are still below the descending trendline. Prices could escalate to Rs 5392 levels breach of this it could extend to Rs 5582 levels. Support is witnessed at Rs 5272 levels violation of this could correct to next support Rs 5218 levels. RSI -14 is giving weak signal. Wait for technical confirmation to take position.

Turmeric
Technical Outlook
Turmeric Oct12, futures prices tumbled by 100 rupees to close at Rs 6000 levels. Entry was not initiated but prices corrected till our target. Resistance is seen at Rs 6094 levels breach of this level then it can test Rs 6188 levels. Support is witnessed at Rs 5942 levels violation of this could correct to next support of Rs 5884 levels. MACD is showing the sign of weakness in the price. RSI-14 is trading in oversold territory to signal continuation of downward trend. Prices to trade on bearish note..

Commodity Chilli Oct12 Turmeric Oct12

Strategy Stay away Sell

Entry

Target-1

Target-2

Stop Loss

6074

5942

5884

6188

Emkay Commotrade Limited

Emkay Commotrade Ltd

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