Wednesday, February 9, 2011

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Soybean seed March contract may see buying at Rs 2,530-2,550: Kotak

  • Wednesday, February 9, 2011
  • Thùy Miên
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  • Commenting on the technical outlook,Dharmesh Bhatia, associate VP-Research, Kotak CommoditiesServices said the following:
    Kapas April prices are trading firm and made a contract high of Rs 1,147, next level is at Rs 1,200. Unless price closes below Rs 1,100, buying is advisable at Rs 1,120-1,130, with stop loss of Rs 1,101 and target of Rs 1,200.
    Refined oil March prices have taken a strong support at Rs 660. Strong resistance is at Rs 681(contract high). Unless the price closes below Rs 656, buying at Rs 664-666, with stop loss Rs 662 and target of Rs 676 level is recommended.
    Soybean seed March prices are trading steady and holding above the strong support of Rs 2,500. Until price closes above Rs 2,490, buying is advisable at Rs 2,530-2,550 with stop loss of Rs 2,2251 and target of Rs 2,601. 
    Castor February prices are trading firm and made a contract high of Rs 5,521, next level is at Rs 5,652. Strong support is at Rs 5,100. Unless the price closes below 5,000, buying is advisable at Rs 5,250-5,300, with stop loss of Rs 5,190 and target of Rs 5,510.
    Cardamom prices for the month of February are trading weak and made a one month low Rs 1,210, next support is at Rs 1,164. Unless the price closes above Rs 1,300, selling is advisable at Rs 1,230-1,250 with stop loss of Rs 1,269 and target of Rs 1,179.

    (Source: http://www.myiris.com/newsCentre/storyShow.php?fileR=20110210120826043&dir=2011/02/10&secID=livenews)

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