Sell Castorseed, RMSeed on pullback; buy CPO on dip: Geojit
Geojit Comtrade has come out with its report on agricultural commodities. The research firm has recommended to sell Castorseed, RMSeed on pullback and buy CPO on dips in its report dated January 17, 2013.
January 17, 2013 / 13:29 IST
Geojit Comtrade has come out with its report on agricultural commodities. The research firm has recommended to sell Castorseed, RMSeed on pullback and buy CPO on dips in its report dated January 17, 2013.
Pepper Feb NCDEX: Pepper pushed higher towards 35760 in tandem with the technical breakout objective of double bottom discussed yesterday. Intraday, as prices face obstruction at the upper end of descending trend channel resistance near 37600, expect a mild lower correction towards 36900. However, direct rise above 37600 short covering rallies may be seen towards 37800/38200 levels. Meanwhile, weakness is seen only below 35600.Castor seed Feb NCDEX: After breaking the strong support of 3680, prices closed the previous session at 3677 levels. With a close below 3680, present weakness may continue towards 3650/3620 or even lower to 3600 region. Furthermore, daily RSI indicator is turning lower which also supports the bearish view. Conversely, inability to do so could see a choppy trading session with mild pullbacks to 3740 levels for the day.Rmseed Apr NCDEX: The current sell offs might continue towards 3400/3370, if prices clears the support of 3420 levels.CPO Jan MCX: As prices stabilized above 13 day EMA support at 435, anticipate a pullback rally towards 445 regions.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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