Sell Soybean on pullbacks, Cardamom below Rs 735 : Geofin

Geofin Comtrade report on agricultural commoditiesChana Jan NCDEX: Chana prices witnessed sharp rallies and later closed at 4902 levels. Prices are now required to clear and sustain above the 13 day EMA resistance of 4925 for short covering rally to extend towards 4960/4990 or even higher to 5050 levels. Further, daily RSI (14) is also showing signs of recovery, treading at 49, suggests upturn in prices. However, unable to do so could see choppy session and downside weakness is seen below 4870 levels for the day. Therefore, we maintain a positive session once it break the resistance of 4925Cardamom Jan MCX : Short covering rally seems to be exhausted and expect to see downside correction towards 735/720 levels.Cocudakl Dec NCDEX : Current buying momentum could continue towards 1780 regions.Soybean Dec NCDEX : While prices broke the support of 3800, following correction would extend towards 3700/3660 levels.StrategiesSELL SOYBEAN ON PULLBACKSSELL CARDAMOM BELOW 735BUY COCUDAKL ON DIPSFor all commodities report, click here

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