Sell Soybean seed March prices at Rs 2,440-2,460: Kotak

Commenting on the technical outlook,Dharmesh Bhatia, associate VP-Research, Kotak Commodities Services said the following:

Chana March prices is trading weak and after breaching the strong support of Rs 2,500 gave a sharp fall till Rs 2,461. Next level is at Rs 2,400. Unless price closes above Rs 2,565, selling is advisable at Rs 2,490-2,510, with stop loss of Rs 2,539 and target of Rs 2,410.

Refined oil March price is also trading weak and failed toclose above the strong resistance of Rs 640, gave a sharp fall till Rs 628. Strong resistance is at Rs 640. Unless the pricecloses above Rs 641, selling at Rs 630-632 with stop loss Rs 635 and target of Rs 621 level is recommended.

Soybean seed March prices failed to close above the strong resistance level of Rs 2,500. Until this level is breached, selling is advisable at Rs 2,440-2,460 with stop loss of Rs 2,455 and target of Rs 2,335.

Mustard April prices breached the strong resistance line of Rs 2,910 and fell sharply till Rs 2,869, next level is at Rs 2,810. Unless the price closes above Rs 2,950, selling is recommended at open with stop loss of Rs 2,925 and target of Rs 2,830.

Castor prices for the month of March is trading weak and made a one month low of Rs 4,897 next support is at Rs 4,710. Unless the price closes above Rs 5,200, selling is recommended at Rs 5,100-5,150 with stop loss of Rs 5,225 and target of Rs 4,895.

(Source: http://www.myiris.com/newsCentre/storyShow.php?fileR=20110301133758043&dir=2011/03/01&secID=livenews)