06/02/2015

Date and Time

SOYBEAN APR NCDEX

06/FEB/2015
STOCK: Soybean Apr
Call: SELL
CMP: 3455
Initiation Level:
Around 3480
Book Profit (Level
1): 3430
Book Profit (Level
2): 3380
Stop Loss: Above
3550
Conviction Level:
Moderate Risk.
Reasoning. (Read
Technical
commentary).

Soybean Apr NCDEX: Soybean prices slipped in previous couple of session from the high of
3531 dated 04 February 2015 and made low of 3425 level in previous day and finally closed
lower at 3455 level in previous session, besides, the decrease in OI may keep profit booking for
the next couple of days, as prices cleared the down trend line support of 3350 for the strong
downside rallies to 3280 followed by 3210 or even lower to 3180 levels in the near term. Prices
are still strongly held the base support of 3300, but major upside views are seen only once it
clears the technical resistance of 3450 towards 3520/3680 levels. Subdued demand in
International markets along with profit booking at the higher levels resisted the rates for
Soybean, which traders anticipate, has fallen to very low levels. Moderate fall was noted for
Soybean as overall weakness in International markets kept sentiments down. Good demand
however persisted in domestic market as traders anticipate demand to rise even further in
coming weeks. Previous couple of days slumped in International markets and also domestic
market ensured prices remained down 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.

Short term Trend:

Hence, we recommend sell on rise around 3480 could see downside bias towards 3430 followed

Bearish.

by 3380 for the day.

Medium Term
Trend: Bullish.
For the Traders:
SELL
For Aggressive
Traders: SELL
Support: 3380-33363260
Resistance-34803490-3530
Duration: 4-5 Days
Recommendation:On the basics of technical
and Fundamental
analysis we are
Recommending to sell on
rise Soybean Apr around
3480 with the Stop Loss
of 3580 for the target of
3290 and 3200.

SOYBEAN APR DAILY TECHNICAL CHART

Date and Time

GUARSEED MAR NCDEX

06/Feb/2015

Guar seed Mar NCDEX: Prices failed to recover from the resistance of 4306 levels dated 04

STOCK: Guar seed

February 2015 in March contract made a low of 4083 levels in previous session as weak

Mar

domestic and International markets demand and high stocks and bearishness in mandi kept

Call: BUY

pressure on the domestic market sentiments and finally closed at lower 4120 levels in previous

CMP: 4120

day. As prices clear the upper trend line resistance of 4360 levels for the strong upside rallies

Initiation Level:

to 4410 followed by 4550 or even higher to 4680 levels in the near term. Further, as per trader

AROUND 3960

estimates however, production this year is expected 43% lower at 12.5 MMT due to erratic

Book Profit (Level 1):

rains. Total arrival is around 1.25 lakh bags, 0.4-0.5 lakh bags down from previous year. This

4080

could support prices in medium term when exports pick up. A significant fall in Crude Oil prices

Book Profit (Level 2):

kept trend weak for Guar Seed even as other Agri commodities shot up. Even as there are

4200

reports of prices being at very low levels, any strong recovery in Crude Oil can ensure Exports

Stop Loss Below: 3880

picking up. But a recovery in Crude prices is needed for Guar to bounce back strongly. On the

Conviction Level:

other side, if prices breach psychological support of 4000 could turn the outlook into negative

Moderate Risk.

territory in the near term. We recommend buy on deeps around 3960 could see upward bias

Reasoning. (Read

towards 4080 followed by 4200 for the day.

Technical commentary).
Short term Trend:
Bearish.
Medium Term Trend:
Bearish.
For the Traders: BUY
For Aggressive
Traders: BUY
Support: 4040-39603870
Resistance-44104530-4680
Duration: 4-5 Days
Recommendation:On the basics of Technical
and fundamental analysis
we are Recommending Buy
Guar seed Mar around
3980 for the target of 4200
4360 with a strict stop
loss of 3880.

GUARSEED MAR DAILY TECHNICAL CHART

CARDAMOM FEB

Date and Time

06/Feb/2015

Cardamom Feb: Prices in the MCX contract witnessed continuation of one week fall as
expectation of fresh arrivals in major mandis upset the bullish mood. Prices rebounded

STOCK: Cardamom Feb

firmly from the support of 1027.20 levels, made high 1085 levels in previous day and finally

Call: SELL

closed at higher 1078 levels as pick up domestic market demand keep trend up on limited

CMP: 1078

period. Average price that the spice fetched amounted to Rs.900 a kg compared to Rs.582 a

Initiation Level: Around

kg a year ago. According to Spices Board estimated export small cardamom during April-

1110

September 2014 was 1305 tonnes, 11 per cent down compared same period last year.

Book Profit (Level 1):

1075
Book Profit (Level 2):
1035
Stop Loss: Above 1140
Conviction Level:
Moderate Risk.
Reasoning. (Read
Technical commentary).
Short term Trend:

Cardamom futures are expected to remain weak on strong arrivals and any upside is not
sustainable considering the present scenario According to sources, the fourth round of
plucking has been completed and the fifth round has commenced. Prices are however at
strong psychological Resistance level of 1100 for February contract. For the week, any break
below of 1020 could see downward bias towards 980 followed by 950. 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 sell on rise around 1110 could see downside bias towards 1075
followed by 1035 for the day.

Bearish.
Medium Term Trend:
Bullish.
For the Traders: SELL
For Aggressive Traders:
SELL
Support: 1020-990-960
Resistance-1090 - 1120
Duration: 4-5 Days
Recommendation:On the basics of Technical
and Fundamental analysis
we are Recommending sell
on rise Cardamom Feb
around 1060 for the target
of 1025 980 with a strict
stop loss of above 1110.

CARDAMOM FEB DAILY TECHINICAL CHART

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