Buy Cocudakl, Kapas on dip; sell Soybean: Geojit Comtrade

Written By Unknown on Selasa, 31 Desember 2013 | 16.02

Geojit Comtrade's report on agricultural commodities

Cardamom Jan MCX: Cardamom prices traded with thin volume and later the day closed at 677.5. For the day, expect to see some recovery in prices to 700 regions before resuming the next leg of selloffs. However, a direct rise above 710 would call for short covering rallies to 725-735 regions.

Cocudakl Jan NCDEX: Cocud prices skyrocketed sharply from 1449 and closed the day at 1488 levels. As long as prices are able to stay above 1475, expect to find a major recovery rally towards 1500 followed by 1515/25 levels. It is also well supported by strong volume and positive daily RSI, confirming the bullish moves. However, a mild profit booking cannot be ruled out towards 1460, if prices break below 1475 levels.

Kapas Apr 2014 NCDEX: As prices broke the resistance of 1002, expect to find the rally towards 1025 levels.

Soybean Jan NCDEX: As long as 3800 caps upside, expect to see downfall towards 3750 followed by 3700 levels.

Strategies:
Buy Cocudakl on dips
Sell Soybean on pullbacks
Buy Kapas on dips

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.



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