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Adjacent chart shows price movement of MCX Mentha oil continuous contract. It formed a short term correction in the month of January, which found support near the daily lower Bollinger Band & the rising trendline. From there the commodity formed an impulse on the upside & is currently retracing the same. The three wave set back has reached near the trendline as well as near 61.8% retracement of the impulse. Thus hereon Mentha oil can start next set of impulse on the upside. Rs 1,047-1,066 will be the key levels on the upside. On the other hand, Rs995-985 will act as a key support zone


Adjacent chart shows price movement of NCDEX Jeera continuous contract. It was consolidating in a triangle since past many months. However, the triangle has broken on the downside. The bulls have managed to defend 16600 on the downside as of now. However, if the NCDEX Jeera contract closes below 16600 then bears are likely to dominate. Below 16600, it is likely to drift lower towards 16000 to re-test the low of October 2016. A bounce towards 17485 – 17775 is possible as long as it is trading above 16600. The momentum indicator has turned in buy mode on the daily chart. Close eye must be kept o NCDEX Jeera contract as a good move can be expected in coming trading sessions.


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.

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