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Home » Restricted volume in NCDEX weighing down on Agri prices. Check out weekly levels of major Agri-commodities.
Agri Commodity

Restricted volume in NCDEX weighing down on Agri prices. Check out weekly levels of major Agri-commodities.

06th April 2020

The major agri-commodities took a correction in the previous week as the volume turned low in the NCDEX platform. Restricted trading hours and manipulation are weighing down on the interests of market participants.

Let’s have a look at the Weekly levels of major NCDEX agri-commodities!

 

SOYBEAN

 

Soyabean Technical Chart
Technical Chart

 

Soybean took a sharp reversal from the bottom and climbed up till 3910 levels.

What to expect next?

The major support is 3620, break and close below it will see 3510—3460 levels in the coming days. And if it won’t be able to break 3620 levels, then we can expect it to touch its resistance level of 3920.

Break and close above 3920 will see 4150—4370—4550 levels in the coming days.

Trade with levels only.

 

 

CHANA

 

Chana Technical Chart
Technical Chart

 

Chana is taking a correction after climbing up to 4350 levels.

It has its immediate support at 4040, break and close below it will see 3920—3850 levels in the coming days.

If it will not be able to break 4040 levels, then we can expect it to rise till its immediate hurdle of 4220 levels again.

Break and close above 4220 will see a rise till 4350—4500 levels in the coming days.

Trade with Levels only.

 

GUAR SEED

 

Guar Seed Technical Chart
Technical Chart

 

Guar seed has its major support level at 3150 after it slipped as it could not sustain at higher levels.

Resistance is seen at 3400 while support at 3150.

Three consecutive close below 3150 will see a continuous downside move till 2970–2850 levels in the coming days.

Fresh buying can be done only on a close above 3400.

Break and close above 3400 will see a sharp upside move till 3750—4100 levels in the days to come.

It is trading at bottom levels, trade cautiously. We can expect a reversal here.

Trade with levels only.

DHANIYA

 

NCDEX
Coriander Technical Chart

 

Dhaniya took reversal from the bottom, the major trend is yet to turn positive. It has its major support at 5650.

If it manages to sustain below it, then we can expect a sharp downside panic till 5400—5200 levels in the coming days.

Strong hurdle seen at 6000, fresh buying can be done only if it manages to give a close above this level.

Break and close above 6000 will see a rally towards 6400—6750 levels.

Trade cautiously!

 

CRUDE PALM OIL

 

NCDEX
Crude Palm Oil Technical Chart

 

CPO couldn’t sustain at higher levels and turned downwards.

Major support at 620 while immediate hurdle is at 671.

Break and close below 620 will see a continuous crash till lower levels of 580—550.

More downside can be seen if it will manage to give a close below 550 levels.

Fresh buying can be done only on a close above 665 levels. Above 671, we can expect a continuous rally towards 710—730 levels.

Trade with levels only.

 

 

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