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Apr 03, 2012, 01.39 PM IST | Source: Moneycontrol.com

Buy Wheat on dips; sell Sugar on pullbacks: Geojit

Geojit Comtrade has come out with its report on agricultural commodities. The research firm has recommended to buy Wheat on dips and sell Sugar on pullbacks.

Geojit Comtrade has come out with its report on agricultural commodities. The research firm has recommended to buy Wheat on dips and sell Sugar on pullbacks.

Wheat Apr ncdex: While above 1252 prices have more room for further upside towards 1270/1290.

Pepper Apr ncdex: For the day, initial gains are likely to face resistance near 40100 and cause a dip lower. However, the 50 day moving average support, which is currently placed at 37500 could act as a major obstacle, hence breaching of the same is less favored the day. At the same time, unexpected rise above 40220 would be an early signal for renewed buying interest in the counter.

Cardamom Apr ncdex: Prices have been moving inline with the falling trend channel for the last few days. However, ongoing formation is seems as a minor consolidation inside the channel within 1200-1120 levels, therefore breaching of any of the side is required to suggest fresh directional moves later.

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