Geofin Comtrade has come out with its report on agricultural commodities. The research firm has recommended to buy Kapas, Cocudakl on dip and Mentha oil above Rs 718, in its research report dated Dec 12, 2014.
Jeera Jan NCDEX: Jeera prices rebounded initially after making a high of 12895 and later closed at 12760. If prices are able to hold the support of 12670 could see pullbacks initially towards 12950 and later to 13100 levels. But major upside bias is seen above 13100 for the bulls to act towards 13120 followed by 13250/13360 levels. Moreover, the increase in OI along with volume seems to supportive for day. On the other side, unable to rise above trend line resistance of 13100 a choppy session for the day. Hence, we recommend wait and watch approach for buying during the day.
Menthaoil Dec MCX: Menthaoil prices traded higher from the low of 705.80 and later closed the day at 716.60. Prices need to break above the trend line resistance of 718 for the bullish momentum to continue towards 726 followed by 750 levels. Moreo-ver, the stochastic indicator is showing a bullish crossover, indicate a near term bullish view. However, on the other hand, unable to do so could see a choppy session for the day. Weakness is seen below 690 regions in the near term.
Kapas April NCDEX : As prices cleared the upper trend line resistance of 805 could see upside moves to 812/820 levels.
Strategies
BUY COCUDAKL ON DIPS
BUY MENTHAOIL ABOVE 718
BUY KAPAS ON DIPS
For all commodities report, click here
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