SOYABEAN TECHNICAL OUTLOOK:
On the technical charts, Soybean April futures trend is sideways to bullish where it has resistance at 4380 on an intraday basis & 4190 is an immediate support. Soybean closed at 4250.
Momentum indicator RSI is currently positively biased & is indicating bullish trend in the commodity.
Traders can take a long position at around 4220 with a stop loss of 4190 for the day target of 4380.
FUNDAMENTAL OUTLOOK: Soybean exports from US continue to the Chinese Markets. Unfavorable weather conditions can create volatility in the price of Soybean.
CHANA
TECHNICAL OUTLOOK:
From an intraday perspective, chana April contract will trade on a neutral to bearish note. A crucial support is seen around 3240 & resistance is placed at 3300. Yesterday, Chana closed at 3259.
Intraday traders can take a buy position in chana around 3240 with a stop loss at 3215 & a day target of 3300.
On the daily chart, momentum indicator RSI is negatively biased indicating a bullish trend in the commodity.
Ncdex Intraday Trading Trend 24 March
SOYABEAN APRIL
Support: 4190/4215
Resistance: 4260/4280
CHANA APRIL
Support: 3240/3280
Resistance: 3340/3360
CORINDER MAY
SUPPORT: 8600/8720
Resistance: 8930/9030
TURMERIC MARCH
SUPPORT: 6050/6100
Resistance: 6300/6380
JEERA MARCH
SUPPORT: 9700/9850
Resistance: 10100/10250
KAPAS
SUPPORT: 845/848
Resistance: 862/872
COTTON MCX
SUPPORT: 20480/20590
Resistance: 20800/20900
Read More
http://research4u.co.in/intraday_stock_commodity_tips/intraday-ncdex-trading-trend-24-march/
On the technical charts, Soybean April futures trend is sideways to bullish where it has resistance at 4380 on an intraday basis & 4190 is an immediate support. Soybean closed at 4250.
Momentum indicator RSI is currently positively biased & is indicating bullish trend in the commodity.
Traders can take a long position at around 4220 with a stop loss of 4190 for the day target of 4380.
FUNDAMENTAL OUTLOOK: Soybean exports from US continue to the Chinese Markets. Unfavorable weather conditions can create volatility in the price of Soybean.
CHANA
TECHNICAL OUTLOOK:
From an intraday perspective, chana April contract will trade on a neutral to bearish note. A crucial support is seen around 3240 & resistance is placed at 3300. Yesterday, Chana closed at 3259.
Intraday traders can take a buy position in chana around 3240 with a stop loss at 3215 & a day target of 3300.
On the daily chart, momentum indicator RSI is negatively biased indicating a bullish trend in the commodity.
Ncdex Intraday Trading Trend 24 March
SOYABEAN APRIL
Support: 4190/4215
Resistance: 4260/4280
CHANA APRIL
Support: 3240/3280
Resistance: 3340/3360
CORINDER MAY
SUPPORT: 8600/8720
Resistance: 8930/9030
TURMERIC MARCH
SUPPORT: 6050/6100
Resistance: 6300/6380
JEERA MARCH
SUPPORT: 9700/9850
Resistance: 10100/10250
KAPAS
SUPPORT: 845/848
Resistance: 862/872
COTTON MCX
SUPPORT: 20480/20590
Resistance: 20800/20900
Read More
http://research4u.co.in/intraday_stock_commodity_tips/intraday-ncdex-trading-trend-24-march/