Buy Sugar, Kapas on dips: Geojit Comtrade

Kapas April NCDEX: Prices recuperated from a low of 1127 yesterday and closed the positively at 1156. For the day, we expect continuation of rallies towards 1173 followed by 1190 levels. The daily RSI is also supportive for a slight positive view. On the flip side, a consistent trade below 1150 could pull down prices towards 1120 levels.

SugarM 200 Sep NCDEX: Prices regained from previous day’s losses and finally settled the day at 3515. As long as prices are able to buoyant above 13 day EMA support of 3475, we expect a bounce back towards 3540 and there after 3590 levels. Moreover, the momentum indicator stochastic is showing positive cross over indicating bullish view. A direct fall below 3425 may dent our bullish outlook.

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