Soya Bean

Test 2 – Soybean falls on low demand. Update on Major Agri Commodities.

22nd April 2020

 

Soybean and other Agri-commodities update

 

Soybean futures dropped in futures trade due to a fall in the demand in the spot market. Market participants cut down their positions as there was a reduction in exposure in the market.

 

Technical Aspect of Agri-commodity

 

Soybean (May)

Soybean has its support at 3600 and resistance 3720.

Break and sustain below 3600 will see a fall till 3500—3430 levels or else it can touch its resistance level of 3720 again.

Fresh buying can be seen on a close above 3720.

Trade with levels only.

 

CPO (April)

CPO has its support at 610 and resistance 633.

Break and close below 610 will see a fall till 595—580 levels or else it can touch its resistance level of 633 again.

Do not jump to buy yet!

Trade with levels only.

 

 

Turmeric (May)

Turmeric has its support at 5350 and resistance 5470.

Break and sustain below 5350 will see a fall till 5100—4850 levels or else it can touch its resistance level of 5470 again.

Sell it on the rise!

Trade with levels only!

 

 

Guar seed (May)

Guar seed has its support in 3200 and resistance is seen at 3280.

Break and sustain below 3200 will see a fall till 3120—3060 levels or else it can touch its resistance level of 3280 again.

Sell it on the rise!

Trade with levels only.

 

 

Chana (May)

Chana has its support at 4090 and immediate resistance is 4180.

Break and sustain above 4180 will see a rise till 4250—4320 or else it can touch its support level of 4090 again.

Buy it on dips!

 

 

Rmseed (May)

Support is seen at 3930 while Resistance is 4010.

Break and sustain below 3940 will take it to 3870—3810 mark or else it can touch its resistance level of 4010 again.

Fresh buying can be seen on a close above 4010.

Trade with levels only.

 

 

 

Click here to know our previous Agri Commodity update.


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