Geojit Comtrade has come out with its report on agricultural commodities. The research firm has recommended to buy Cardamom, CPO and Cocudakl on dip, in its report dated July 08, 2014.
Cardamom August MCX: Cardamom prices rallied sharply and later closed the day at 962.7. As prices broken the upper trend line resistance of triangle formation, the bulls are active in the counter and may see prices move higher towards 974 followed by 990 levels. However, slippage below 950 could see lower correction to 930 levels. Major weakness is observed below 920 levels.
CPO July MCX/NCDEX: CPO prices escalated higher from the low of 528.5 and closed the day at 533.4. As prices cleared the 45 day EMA resistance, momentum seems cheerful and expects to continue the rally towards 538.5 followed by 540 levels. The daily RSI (14) is also treading higher with a positive outlook. However, if unable to break the resistance of 534.20 could see some dips towards 530 levels before enabling the next leg of rally. Major weakness is seen only a close below 520 region in the near term.
Cocudakl July NCDEX: Momentum seems to be sanguine and likely to continue the upside moves towards 1720 levels.
Strategies:
Buy Cardamom on dips
Buy CPO on dips
Buy Cocudakl on dips
(Prices in Rs.)
For all commodities report, click here
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To read the full report click here
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