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Soya bean has given a breakout from a triangle formation on the weekly charts. Soya bean is trading well above its 20- and 40-weekly moving averages of Rs2,427 and Rs2,410 respectively. The momentum indicators have given a positive crossover and are above the equilibrium line. We are expecting Soya bean to trade with a positive bias with target of Rs2,949 in the short term with the key reversal levels at Rs2,668.
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NCDEX pepper was trading near the lower end of the medium-term rising channel. The weekly lower Bollinger Band provided support to the agri commodity and push it up. The price has crossed the 40-Weekly Exponential Moving Average (Rs31,500) and the 20-weekly moving average (Rs33,500). The weekly momentum indicator has triggered a bullish crossover. Hence pepper seems to have started a new move on the upside. Unless it breaks the 20-weekly moving average on a closing basis the channel targets are Rs40,900 and Rs45,900.

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NCDEX chana was trading in a range bound manner for several weeks. The consolidation formed a large triangle and broke out on the upside. It has also retested the trendline and has resumed the rally. The daily momentum indicator is in line with the price action whereas the weekly momentum indicator has given a fresh buy signal. Thus short- term as well as medium-term trend for chana is up.The targets are Rs3,940and Rs4,100 (the equality targets).The reversal would be below Rs3,421.
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Jeera has fallen below the 20-weekly moving average (WMA; Rs14,558) and the 40-weekly exponential moving average (WEMA; Rs14,763), which are now acting as resistances. Jeera is falling down as a follow-through of a bearish outside bar that was formed on the weekly chart. The weekly momentum indicator is also showing weakness. It has triggered a bearish crossover. Unless the high of Rs15,010 is crossed the agri commodity is likely to fall towards Rs13,400 (the rising trendline). Whether Rs13,400 holds will decide the future course of action for jeera.
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