Daily commodities calls!
- Thread starter jack2k1
- Start date
calls 25.07.08
NCDEX buy Sept G.seed @ cmp 2040 sl 2010 tg 2080
NCDEX buy Aug suger @ 1601-1604 sl 1570 tg 1650
NCDEX buy sept c.cake at 558 sl 550 tg 572
We are forecasting downward trend in soybean prices in Indian market due to following factors
On international front, the global benchmark CBOT Soybean futures are projected to fall on account of higher production projection compared to last year due to anticipation of higher acreage under the crop
Though it is reported that nearly 20% of the crop has been damaged due to incessant rain in the month of June, the improvement in weather condition in the month of July is eroding the fear of further fall in pr! oduction and boosting re-sowing and continuation of planting in remai ning fields
The sown crop is performing excellently with 45% of crop blooming as on July 20th compared to 26% in previous week
Forecast of favourable weather condition will brighten the crop prospect and may result into higher compared to last year
Agri Commodities:
JEERA-SEPTEMBER-NCDEX: BUY AROUND 13650-675 TARGETING 14000 WITH STOP LOSS BELOW 13530, CLOSING 13763
Lower arrivals of 4000 bags coupled with increase in incrice by Rs.150 to 13400 levels may keep prices on higher side in today's trading session.
TURMERIC- AUGUST-NCDEX: BUY AROUND 4710-4725 TARGETING 4830 WITH STOP LOSS BELOW 4672, CLOSING 4768
Firm spot prices followed ! by lack of supply in the spot market may support the prices to trade on firm note
Chilli- October- NCDEX: We recommend taking long positions in the range of 5875-5960 targeting 6150, 6320 and then 6450 with stop loss below 5740
Market made a high of 6320 and since then it took correction till 5771 levels. The recent fall has witnessed a 61.8% retracement correction of 5430 to 6320 rally. After pegging at 5771 market again retraced and posted a higher closing which signals prices to trade on a higher note in the short run. The resistances can be seen at 6150 and breach of the same may see prices testing the contracts high at 6320 levels. Break above 6320 may extend its rally towards 6500 levels. In the down side the support levels can be seen at 5870 levels and then 5770 levels. If market sustains above the support we may expect chilli to tr! ade higher in the short term. The momentum indicator RSI-14 is treading at 0.56 signaling flat and expects prices to trade higher in the short term.
NCDEX buy Sept G.seed @ cmp 2040 sl 2010 tg 2080
NCDEX buy Aug suger @ 1601-1604 sl 1570 tg 1650
NCDEX buy sept c.cake at 558 sl 550 tg 572
We are forecasting downward trend in soybean prices in Indian market due to following factors
On international front, the global benchmark CBOT Soybean futures are projected to fall on account of higher production projection compared to last year due to anticipation of higher acreage under the crop
Though it is reported that nearly 20% of the crop has been damaged due to incessant rain in the month of June, the improvement in weather condition in the month of July is eroding the fear of further fall in pr! oduction and boosting re-sowing and continuation of planting in remai ning fields
The sown crop is performing excellently with 45% of crop blooming as on July 20th compared to 26% in previous week
Forecast of favourable weather condition will brighten the crop prospect and may result into higher compared to last year
Agri Commodities:
JEERA-SEPTEMBER-NCDEX: BUY AROUND 13650-675 TARGETING 14000 WITH STOP LOSS BELOW 13530, CLOSING 13763
Lower arrivals of 4000 bags coupled with increase in incrice by Rs.150 to 13400 levels may keep prices on higher side in today's trading session.
TURMERIC- AUGUST-NCDEX: BUY AROUND 4710-4725 TARGETING 4830 WITH STOP LOSS BELOW 4672, CLOSING 4768
Firm spot prices followed ! by lack of supply in the spot market may support the prices to trade on firm note
Chilli- October- NCDEX: We recommend taking long positions in the range of 5875-5960 targeting 6150, 6320 and then 6450 with stop loss below 5740
Market made a high of 6320 and since then it took correction till 5771 levels. The recent fall has witnessed a 61.8% retracement correction of 5430 to 6320 rally. After pegging at 5771 market again retraced and posted a higher closing which signals prices to trade on a higher note in the short run. The resistances can be seen at 6150 and breach of the same may see prices testing the contracts high at 6320 levels. Break above 6320 may extend its rally towards 6500 levels. In the down side the support levels can be seen at 5870 levels and then 5770 levels. If market sustains above the support we may expect chilli to tr! ade higher in the short term. The momentum indicator RSI-14 is treading at 0.56 signaling flat and expects prices to trade higher in the short term.
calls Agri NCDEX-28.07.08
NCDEX Sugar August
The August contract sugar prices were seen trading sideways on last trading session and settled at 1607 levels. Market is likely to remain sideways and the supports can be seen at 1595 levels. If market breaches 1595 we may expect market testing 1580 levels. Likewise the resistances can be seen at 1620 levels. On todays trading session market is likely to trade sideways.
NCDEX Steel Aug Sell at 35700 TP 25400 SL 35880
NCDEX- CER-Dec Sell at 1500 TP 1475 SL 1511
NCDEX-Guar seed- Sept Sell at 2025 TP 1990 SL 2054
NCDEX Soybean Aug Sell at 2625-30 TP 2600 TP 2640
NCDEX Pepper Aug Sell at 14270 TP 13950 SL 12450
NCDEX Turmeric Aug Buy at 4795 TP 4845 SL 4780
NCDEX-RM SEEDSept Sell at 640 TP 630 SL 644
NCDEX-Jeera-Sept Sell at 13850 TP 13700 SL 13940
*NOTE: The calls shown above are purely INTRA-DAY and should NOT be Carried-forward.
Pepper futures extended its downward trend in absence of active buying though supply situation is tight in global market. Speculative led selling pressurized the Pepper futures on Indian exchanges. The active August contract Pepper futures fell to an intraday low of 13791 levels from a high of 14214 levels and ended the session at 13992 levels registering a decline of 1.10%.
Jeera prices fell sharply on rumors of ban on jeera and other spices. All the contracts touched 4% lower circuit on week end trading session. Although spot markets, remained steady rumors led to panic selling in the market.
Turmeric: On weekend session, Turmeric prices sharply tumbled on profit booking in the market on rumours of spices imports coupled with continuous rains in Andhra Pradesh. In most active August, contract prices closed at 4658 levels down by 3% from the days opening level of 4801.
Chilli: On NCDEX, platform chilli prices displayed a southward journey on long
liquidation in the market. Prices in August contract posted a low at 5449 levels on tracking the weather concerns in Guntur region. Participants exited from the market in anticipation of slump in demand exporters and domestic buyers on continuous downpour in Andhra region.
NCDEX Sugar August
The August contract sugar prices were seen trading sideways on last trading session and settled at 1607 levels. Market is likely to remain sideways and the supports can be seen at 1595 levels. If market breaches 1595 we may expect market testing 1580 levels. Likewise the resistances can be seen at 1620 levels. On todays trading session market is likely to trade sideways.
NCDEX Steel Aug Sell at 35700 TP 25400 SL 35880
NCDEX- CER-Dec Sell at 1500 TP 1475 SL 1511
NCDEX-Guar seed- Sept Sell at 2025 TP 1990 SL 2054
NCDEX Soybean Aug Sell at 2625-30 TP 2600 TP 2640
NCDEX Pepper Aug Sell at 14270 TP 13950 SL 12450
NCDEX Turmeric Aug Buy at 4795 TP 4845 SL 4780
NCDEX-RM SEEDSept Sell at 640 TP 630 SL 644
NCDEX-Jeera-Sept Sell at 13850 TP 13700 SL 13940
*NOTE: The calls shown above are purely INTRA-DAY and should NOT be Carried-forward.
Pepper futures extended its downward trend in absence of active buying though supply situation is tight in global market. Speculative led selling pressurized the Pepper futures on Indian exchanges. The active August contract Pepper futures fell to an intraday low of 13791 levels from a high of 14214 levels and ended the session at 13992 levels registering a decline of 1.10%.
Jeera prices fell sharply on rumors of ban on jeera and other spices. All the contracts touched 4% lower circuit on week end trading session. Although spot markets, remained steady rumors led to panic selling in the market.
Turmeric: On weekend session, Turmeric prices sharply tumbled on profit booking in the market on rumours of spices imports coupled with continuous rains in Andhra Pradesh. In most active August, contract prices closed at 4658 levels down by 3% from the days opening level of 4801.
Chilli: On NCDEX, platform chilli prices displayed a southward journey on long
liquidation in the market. Prices in August contract posted a low at 5449 levels on tracking the weather concerns in Guntur region. Participants exited from the market in anticipation of slump in demand exporters and domestic buyers on continuous downpour in Andhra region.
jeera report
Spices Intraday Technical Outlook: Jeera Likely Show More Loss
The Jeera futures ended the with loss for the second consecutive trading sessions on profit booking on Monday. The NCDEX Jeera futures benchmark September contract ended the day with loss of Rs 409 per quintal at Rs 12935 per quintal and the open interest in the contract pared 1.52% which stood at 12,072 lots as against 12,258 lots as on last day. The volume traded in the contract increased to 14,643 lots from 13023 lots traded on yesterday.
The contract continued to close the below 9 day and 20 day EMA levels, indicating the short term and medium term trend remains weak. The price continued to close above the 50 day EMA, indicating long-term trend remains bullish. The RSI is falling in the neutral zone it also supporting the weakness. However the rising MACD is in the positive zone are supporting the firm trading.
Technically the contract is weak below Rs 12900 and next supports are at Rs 12832, Rs 12750, Rs 12665, Rs 12550 and resistance at Rs 13044 per quintal.
Spices Intraday Technical Outlook: Jeera Likely Show More Loss
The Jeera futures ended the with loss for the second consecutive trading sessions on profit booking on Monday. The NCDEX Jeera futures benchmark September contract ended the day with loss of Rs 409 per quintal at Rs 12935 per quintal and the open interest in the contract pared 1.52% which stood at 12,072 lots as against 12,258 lots as on last day. The volume traded in the contract increased to 14,643 lots from 13023 lots traded on yesterday.
The contract continued to close the below 9 day and 20 day EMA levels, indicating the short term and medium term trend remains weak. The price continued to close above the 50 day EMA, indicating long-term trend remains bullish. The RSI is falling in the neutral zone it also supporting the weakness. However the rising MACD is in the positive zone are supporting the firm trading.
Technically the contract is weak below Rs 12900 and next supports are at Rs 12832, Rs 12750, Rs 12665, Rs 12550 and resistance at Rs 13044 per quintal.
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