Buy Kapas, Maize on dips; sell Jeera below Rs 15750: Geojit

Kapas April NCDEX: We expect to see a mild lower correction towards 1130 before recommencing the upside moves towards 1160 levels.

Maize Aug NCDEX: As long as prices stay above the key support of 1500 levels, then the possibility of upside moves towards 1550 levels are favoured during the day.

Jeera Aug NCDEX: The daily candle stick formation is showing that the current up trend is completely exhausted and a break of 15750 would trigger a higher-level profit booking for the day.

Pepper Aug NCDEX: Prices traded lower after making a low of 42840 and closed the day at 43790 levels. Yesterday, prices broke a key resistance of 43650 with streaming volume. Hence, for the day, if prices sustain to trade above the 43650, an upsurge in prices is expected towards 44200/44520 or even more towards 45000 levels. On the other side, break below 42500 would be required to dent the present bullish outlook.

Soybean Aug NCDEX: Prices escalated yesterday from a low of 4525, closing the day at 4692 levels. The present pattern is implying an upside momentum to continue towards 4750 or even towards 4800 levels during the day. Meanwhile, the momentum indicator RSI is at 90, suggesting an extremely overbought condition, hence we recommend cautious buying with strict stop loss. Break below 4500 could see prices correcting lower.

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