Geofin Comtrade report on agricultural commoditiesJeera Aug NCDEX: Jeera prices crashed lower in yesterday’s session and finally closed at 14520. As prices broke the trend line support of 15060, sentiments still looking weak and could continue the downfall targeting 14400/14320 or even lower to 14110. Moreover, daily RSI (14) is suggesting weakness in the immediate run. However, mild pullbacks cannot be ruled out before commencing the downside correction. Hence, we recommend sell on pullbacks for the day.
Chana Sep NCDEX: Chana prices plummeted yesterday from the high of 4500 and later closed at 4337 levels. As prices cleared the trend channel support of 4530, bearish sentiments triggered in the counter and foresee selloffs towards 4295 followed by 4240 levels. Moreover, daily RSI (14) is also supportive for the day. However, on the other side, mild short covering rallies cannot be come out before resuming next leg of downfall. Overall, it is recommend to sell on pullbacks during the day.
RMseed Aug NCDEX : Unable to trade above 4210, expect to see prolongation of downfall towards 4100/4040 levels.
StrategiesSELL CHANA ON PULLBACKSSELL JEERA ON PULLBACKSSELL RMSEED ON PULLBACKS
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