Sell Gur below Rs 1245; CPO on pullback: Geojit
Geojit Comtrade has come out with its report on agricultural commodities. The research firm has recommended to sell Gur below Rs 1245 and CPO on pullback.
July 30, 2012 / 12:29 IST
Geojit Comtrade has come out with its report on agricultural commodities. The research firm has recommended to sell Gur below Rs 1245 and CPO on pullback.
Pepper Aug NCDEX: Prices regained strength on Saturday after it made a low of 43700 and finally closed the day at 44050 levels. For the day, if prices are able to trade above 43500, the outlook remain positive and expect a short covering rally towards 44300 followed by 44500/44800 levels. On the lower side, break of 42800 levels would be an early signal of major lower correction in the near term.Jeera Aug NCDEX: Prices plummeted sharply on Saturday from 16415 regions and finally settled the day at 15620 levels. Hence, for the day, we expect to see continuation of lower correction towards 15500 followed by 15200 levels. Momentum indicators such as daily RSI and MACD indicators are also suggesting a near term bearish view. On the higher side, unexpected pullback above 16000 levels could dent our bearish outlook.Gur Sep NCDEX: Anticipating a lower correction towards 1220 levels, if prices break the 45 day EMA support at 1245.CPO Aug MCX: While prices trade below the 45-day EMA resistance at 572 the overall sentiments linger bearish 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.To read the full report click on the attachment 
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