Sell Dhaniya, Kapas, Gur on pullback: Geojit Comtrade
Geojit Comtrade has come out with its report on agricultural commodities. The research firm has recommended to sell Dhaniya, Kapas and Gur on pullback in its report dated July 22, 2013.
July 23, 2013 / 13:22 IST
Geojit Comtrade's report on agricultural commodities
Dhaniya Aug NCDEX: Consistent trades below 6010, expect the selling pressure to continue towards 5925/5815 levels.Kapas Apr 2014 NCDEX: Consistent trades below 1000 would continue the selling momentum towards 980-975 regions.Gur Sep NCDEX: As prices broke the major support of 1225, could extend the lower correction towards 1200 levels for the day.Cardamom Aug MCX: Cardamom prices traded sideways and later closed the day at 746.60 levels. Now, if prices crack the support of 740, expect selling pressure towards 740 followed by 720/700 levels. Moreover daily RSI (14) is seen negative for the day. On the other side, a direct rise above 790 with volume could take prices higher to 820.Chana Aug NCDEX: Prices slumped lower from a high of 2980 and finally closed at 2933. As it crashed the downside support of 2954, the following downfall would continue towards 2900 and then to 2880 levels. A drastic increase in volume with RSI (14) are also supporting downside move. On the other hand any direct rise above 3020 could negate our bearish outlook for the day.Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 
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