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Agri Weekly Report: Motilal Oswal

According to Motilal Oswal, NCDEX Soyabean prices has been making higher peaks and higher troughs since past few days on daily chart, which indicates the strength in the prices of the commodity Going ahead, Rs.5800 remains strong support for the commodity and bias remains bullish as long as it is trading above the support zone.

April 05, 2021 / 03:49 PM IST

Motilal Oswal's report on Agri Weekly


NCDEX Soyabean prices has been making higher peaks and higher troughs since past few days on daily chart, which indicates the strength in the prices of the commodity Going ahead, Rs.5800 remains strong support for the commodity and bias remains bullish as long as it is trading above the support zone. Intermediate support is placed in the range of Rs.6020-6050 levels. On the higher side the commodity is likely to move towards Rs.6300 – 6470levels. Also, RSI is sustaining well above the mid-point of 50 level which indicates strength in the prices of the commodity. Thus, buying on dips is recommended.



Outlook


Also, RSI is sustaining well above the mid-point of 50 level which indicates strength in the prices of the commodity. Thus, buying on dips is recommended.

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first published: Apr 5, 2021 03:49 pm

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