SOYABEAN
• On technical chart soybean trend is weak where soybean Feb. future has resistance at 3700 on intraday basis while 3610 is a immediate support.
• Momentum indicators RSI is indicating bearish trend with good volume.
• Traders can sell around 3670 with sl of 3700 for the day target of 3610. FUNDAMENTALS:-
Weak demand in spot market from miller’s side. Crop development is on progress in south America.Read More
On technical chart soyabean trend is weak where soyabean feb future has resistance at 3720 on intraday basis while 3610 is a immediate support.
Momentum indicators RSI is indicating bearish trend with satisfactory volume.
Traders can sell around 3690 with sl of 3720 for the day target of 3610.closing is 3664.
FUNDAMENTALS:-
Weak demand in spot market from millers side.
Crop development is on progress in south America.
CHANA
chana feb. trend looking for intraday will be bearish.
We can see support support around 3020 & resistance is 3110 which is upward chanel breakout level for downtrend closing is 3063.
Intraday traders can sell chana around 3085 with sl 3110 target 3020.
Movement am indicator RSI. In daily chart Indicating bearish trend.
FUNDAMENTAL:-
favourable weathercondition for crop development.
RMSEED
Rmseed apr. trend for intraday will be bearish.
It has a major resistance is 3480 closing is 3439.
Traders are advised to sell rmseed arond 3460.with sl 3480.
Upside is limited so traders can see target in coming days up to 3420.
FUNDAMENTAL:-
favourable weather condition can preasure for down trend .
TURMERIC
Turmeric trend for intraday will be bearish.
It has a major resistance of 6880.closing is 6720.
Traders are advised that make selling position around 6800 with sl 6880 for target 6700-6650.
Movementam indicators RSI in downtrend trend & it is below 30 day moving average intraday chart,below that level we can see selling s from resistance levels.
