Latest Post


Adjacent chart shows price movement of NCDEX Turmeric continuous contract. It has been inching higher after making a low of Rs 6626. However, it is now approaching multiple resistance zones. It has touched the downward sloping trend line and has turned down. Also, it has touched the upper end of the Bollinger Band and has found resistance. It is at a crucial juncture at this moment. The zone of Rs 7000- 7096 will act as resistance in the near term. Once it closes above 7096, the NCDEX turmeric is likely to head higher. On the downside, Rs 6870 – 6800 will act as support in the near term.


Adjacent chart shows price movement of NCDEX Soy Oil continuous contract. It has been in corrective mode after hitting the high of Rs 744. However, it is now approaching multiple support zones. Also, the 61.8% retracement of previous up move is pegged at Rs 669. Therefore, the zone of Rs 673-669 will act as crucial support zone in the near term. Also, there is positive divergence witnessed in the momentum indicator. A bounce in NCDEX Soy Oil contract is possible in the near term. However, if it breaks and closes below Rs 669 then further downside towards Rs 665-657 is likely


The adjacent chart shows price movement of NCDEX Soy Bean continuous contract. It has been trading in a sideways trend since past few months. It is possibly forming a triangle pattern wherein it has reached lower end of the triangle. The NCDEX Soy Bean has formed a ‘doji’ candlestick pattern which is a potential sign of halt in the current down move. Also, it has addition support of the lower end of the triangle and Bollinger band. Moreover it has multiple supports in the zone of Rs 2992 – 2980. If it manages to hold the support zone then a bounce towards Rs 3132 – 3200 is possible. The momentum indicator is sell mode. Close eye must be kept on NCDEX Soy Bean contract as a good move can be expected in the coming trading sessions.

Author Name

Contact Form

Name

Email *

Message *

Powered by Blogger.