Sell Chana, Soybean, Turmeric: Geojit Comtrade

Geojit Comtrade's report on agricultural commodities

Chana June NCDEX: As prices broke the intermittent support of 3160, bearish sentiments likely to continue and expect downside moves to 3100.

Soybean June NCDEX: Prices ruptured the key support of 3780 and if consistently trade below the same could see downside moves to 3670 followed by 3630 levels.

Turmeric June NCDEX: Prices plummeted sharply from a high of 5912 and later it closed the day at 5770 levels. A trend line support is seen at 5720 and if clears could see downside progression of prices towards 5660/5620 followed by 5545 levels. Moreover, daily RSI is at 37 indicates further potential to fall. However, any direct rise above 6020 could negate our bearish view in the near term.

Cardamom June MCX: Cardamom traded with extremely thin volume and closed the day at 709 levels. A mild support is seen at 709 which if cleared expect selling pressure to continue towards 700 followed by 680 levels during the day. However, unable to do so, would see a bounce back towards 730. Strong upside rallies would be visible only above 750.

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