Geojit Comtrade has come out with its report on agricultural commodities. The research firm has recommended to buy buy Cardamom, Jeera on dip and CPO above Rs 535, in its report dated June 27, 2014.
Cardamom July MCX: Cardamom escalated higher from 935.5 and closed at 953.4. As prices broke the resistance of 950, rally would continue towards 970 followed by 990 levels. Moreover, the daily RSI (14) is supportive for the bullish outlook in the immediate run. However, Slippage below 920 could see a major fall towards 900 levels in the near term.
CPO July MCX/NCDEX: CPO slipped lower from the high of 532 and closed the day at 528.7. If prices are able to trade above the internal trend line support of 527 could see bounce back towards 530 or even higher to 534 levels. But it is required to break 535 to trigger strong rallies in the near term. Meanwhile, daily RSI (14) seems neutral for the day. On the lower side, major weakness is seen only successful trades below 522 levels.
Jeera July NCDEX: Even after profit booking, if prices are able to stay above 11040, upward journey likely to continue towards 11600 or even higher to 11800 levels for the day.
Strategies:
Buy CPO above Rs 535
Buy Cardamom on dips
Buy Jeera on dips
(Prices in Rs.)
For all commodities report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
To read the full report click here
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