Adjacent chart shows the price movement of NCDEX soya oil continuous contract. Structurally, the oil formed a multi month triangle, which broke out on the upside. Since then the oil rallied nicely. However the up move looks complete at Rs 682.70. From there the agri-commodity has entered short-term correction mode. The daily momentum indicator is showing negative divergence and has given a fresh sell signal. Thus soya oil can come down to test the daily lower Bollinger Band, ie Rs 635.

Adjacent chart shows price movement of NCDEX turmeric continuous contract. From the high of Rs 10,660, the agri-commodity had entered correction mode. The fall is breaking up into the lower degree waves. Recently turmeric broke out from a falling channel and formed a pullback. The bounce faced resistance near the multiple hurdles. From there turmeric has started falling once again. The daily momentum indicator is poised for a new cycle on the downside. Rs 7,815-7,475 will be the key levels on the downside from short- to medium-term perspective. On the other hand, Rs 8,632-8,700 will act as a key resistance zone.

For several weeks NCDEX soybean was oscillating about the key DMAs. In terms of price patterns, the agri-commodity formed a triangular pattern, which broke out on the upside. Since the breakout the commodity has been marching towards north. It consolidated near the previous high of Rs4,121 and 78.6% retracement mark for few days and started moving higher. The commodity is moving up in a channelised manner. The subsequent levels on the upside will be Rs 4,412 and Rs 4,560. The level of Rs 4,121 will act as a crucial support on a closing basis

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