Sell Cardamom Rs 950, Turmeric below Rs 7810: Geofin

Geofin Comtrade's report on agricultural commodities

Jeera Apr NCDEX: Jeera prices slipped lower from the high of 14610 and later closed the day at 14325 levels. It is necessary to breach the horizontal trend line support of 14200 levels to continue current selling pressure towards 14030 fol-lowed by 13800 regions. Moreover, daily RSI (14) is gradually turning lower, ex-pecting a slim fall. Conversely, failure to break could see short covering rallies and only a consistent trades above 15500 could negate the intermediate weakness,. Hence, recommend to sell below 14200 levels for the day.

Kapas Apr NCDEX : Kapas prices skyrocketed higher from 765.50 and later closed the day at 788 levels. As prices broke the upper trend channel resistance of 785, bulls are more active towards 800/811 levels in the near term. Moreover, daily RSI seems positive for the day. On the other side, weakness is seen only consistent trades below 750 levels. Hence, we recommend to buy on dips for the day.

Cardamom Apr MCX : Prices are now required to break below 950 for the following lower correction towards 940/920 levels.

Turmeric April NCDEX : As long as prices trading well below the 45 day EMA resistance at 8215, bearish moves could see towards 7810 followed by 7720/7530 levels in the near term

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StrategiesSELL CARDAMOM 950SELL TURMERIC BELOW 7810BUY KAPAS ON DIPS

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