Sell Kharif Maize below Rs 9410: Geofin Comtrade

Geofin Comtrade's report on agricultural commodities

Kharif Maize Feb NCDEX: Maize prices plummeted from the day’s high of 1244 and closed the session at 1213. As prices broke the trend line support of 1247 could see downside correction towards 1210 followed by 1190 or even lower to 1170 levels in the immediate run. Further, increase in volume coupled with lowering daily RSI (14) signals a near term bearish outlook. Conversely, unable to slip below 1210 could see short covering rallies to 1230 levels. Overall, recommend to go shorts below 1210 levels for the day.

Jeera Feb NCDEX: Jeera prices witnessed an extended profit booking and finally closed the Friday’s session at 16220. As prices are unable to surpass above declining trend line resistance of 16550, could see lower correction towards 15835 followed by 15730 or even lower to 15300 levels. Moreover, daily RSI (14) is gradually turning lower suggests a near term correction on the cards. However, on the other side, any rise and close above 16550 would enable the bulls to ride further stronger towards 16725 followed by 17000 levels. Hence, it is recommend to wait for the buyers to take fresh position in the short run.

Cardamom Feb MCX : The trend looks bullish and required to beat above 1116 for the strong upside rallies.

Castor seed Feb NCDEX : While trading below 4600 following lower correction would see towards 4560/40 levels.

StrategiesBUY CARDAMOM ON DIPSSELL CASTORSEED ON PULLBACKSSELL KHARIF MAIZE BELOW 1210

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