Soybean May NCDEX: Prices rebounded firmly from the basal support of 3620 and finally closed at 3701. While prices holds the 13 day EMA support at 3600, buying momentum could continue towards 3745 or even further higher to 3800 levels in the immediate run. In the meantime, daily RSI indicator is also showing positive outlook for the day. Any break below 3580 could negate the present bullish view in the near term.
CPO Apr MCX: As long as prices stay below 462, could see downside pressure to continue towards 453 levels.
Pepper May NCDEX: Prices recovered from the support of 35525 and closed at 35825. It has to break and sustain above the key resistance of 36100 for starting the next leg of bullish rally towards 36500/36900 levels. Unsuccessful attempts to trade above 36100 would see selloff towards 35350 levels for the day. Daily RSI is slowly turning lower, suggesting possibilities of further sell off.
Jeera May NCDEX: If prices are unable to surpass the EMA resistance at 13310, expect to see downside correction 13000 levels.
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Buy Soybean on dips; sell CPO, Jeera on pullback: Geojit
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