Sell Dhaniya, Chilli on rise; buy Mentha oil: Geojit

Geojit Comtrade's report on agricultural commodities

Dhaniya June NCDEX: Prices edged lower from 6718 and finally closed at 6559. Consistent trades below 6658 expect continuation of the selling pressure towards 6484 followed by 6400/6325 levels during the day. Moreover, the momentum oscillator RSI is still showing a potential fall in the immediate run. However, if prices subjugate above 6800, could prompt the short covering rally to 7000 levels in the near term.

Chilli Jul NCDEX: As long as prices stay below 5665, sentiments turned bearish and expect to see downside correction to 5500 levels.

Menthaoil May MCX: A break above 976 could see an upside move towards 1000 levels.

Cardamom June MCX: As long as prices stay below 750, the trend seems to be bearish and expect the downside moves to continue towards 725 initially, followed by 700 levels. The daily RSI indicator is also supporting the same view. On the other side, major upside moves are anticipated only on a close above 775 regions in the near term.

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