Buy RM Seed, Soybean, CPO on dip: Geofin Comtrade

Geofin Comtrade report on agricultural commoditiesJeera Oct NCDEX: Jeera prices initially traded higher and later closed at 15805. Any-how, prices is now required to break the upper trend line resistance at 15900 for the bulls to more active towards 16020 followed by 16300 or even further higher towards 16400 levels. In the meantime, daily RSI (14) seems neutral for the day. However, breach of the support of 15500 could see a major fall towards 15250/15100 levels. Hence, we recommend wait for the clear signal for taking fresh positions.Chana Oct NCDEX: Chana continued upside momentum and later closed at 5215. Prices are now trading at whole time highs and today’s view is significantly volatile trading day. Hence, we maintain a choppy to positive session for the day. The strength of daily RSI (14) was treading at overbought, indicating a downside correction, which is very limited at this point of time. Hence, we suggest wait and see approach for the day.RMseed Oct NCDEX : Present buying momentum would see towards 4820/4880 levels.CPO Oct MCX : Prices need to clear the another resistance of 436, for the bullish move to continue towards 440/445 levels.Soybean Oct NCDEX : Bullish moves would see towards 3750/3800 levels.StrategiesBUY CPO ABOVE ON DIPS BUY RMSEED ON DIPSBUY SOYBEAN ON DIPSFor all commodities report, click here

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