Sell Maize below Rs 1288: Geojit Comtrade

Geojit Comtrade has come out with its report on CPO, Maize and Gur. According to the research firm, one can buy CPO above Rs 460, Gur above Rs 1130 and sell Maize below Rs 1288.

Maize Mar NCDEX: Prices have been consolidating for the last three days and closed the previous session at 1296. An ascending trend line is running through 1288 levels, voluminous break below the same could see sharp lower correction towards 1272 followed by 1250 levels in the near term. Daily RSI indicator is also ticking down suggesting near term correction. However, successful trades above 1320 could negate our bearish view.

Pepper Mar NCDEX: Pepper prices traded extremely sideways for the last three days and closed the session at 37895 levels. If prices clear the resistance of 38400 could see prolongation of bullish rally towards 39000 followed by 39500 levels in the immediate run. Conversely, any break below 37500 could witness long liquidations towards 37000 or even lower to 36800 levels. In the meantime, daily RSI indicator is showing an overbought condition.

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