Monday, February 13, 2012

NCDEX Commodities Trend for This Week (13th- 17th Feb)

Guar seed (March):- Last week Guar seed February contract did our target of 13100 above the level of 12800 and even sustained above it. Last week Guar seed March contract initially opened on a negative note but it remained bullish for the remaining part of the week and even closed at its weekly high. For this week Guar seed has resistance at 13700 and support at 12700.
Resistance: 16520 - 14120.
Support: 12320 - 9320.
Strategy: For this week in Guar seed March contract traders should go for buying at lower levels strategy, if Guar seed sustains above the level of 13700 we can see the level of 14000, and below 12700 it can touch the level of 12450.

Soyabean (February):- Last week Soybean did our target of 2525 above the level of 2485 but price was not able to sustain at higher level. Last week in the initial half of the week Soybean was bullish and we saw good buying coming at lower levels but in the later half of the week we saw a slight profit booking coming. For this week Soybean has resistance at 2530 and support at 2465.
Resistance: 2626 - 2539.
Support: 2477 - 2378.
Strategy: For this week in Soybean one should go for buy on lower level strategy. If it sustains above the level of 2530 we can see the level of 2570 and on the downside if it sustains below 2465 level we can see Soybean at 2435 level.

Chana (March):- Last week Chana February contract did our target of 3365 above the level of 3315 and even closed above it. Chana March contract was in a bullish trend throughout the previous week and we saw good buying coming at lower levels but we saw a slight profit booking coming on the last day of the week. For this week Chana has resistance at 3510 and support at 3350.
Resistance: 3976 - 3536.
Support: 3234 - 2768.
Strategy: For this week in Chana March contract one should go for buy at lower level strategy. If it sustains above 3510 we can see the level of 3565 and on the downside if it sustains below the level of 3350 we can see Chana at 3300.

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Base Metals
MCX Energy
Bullion - MCX
Agri Tips