Soybean witnessed a sharp correction closing with a net loss of close to 2% as traders booked profits after the recent rally on the day of contract expiry.
(prHWY.com) December 20, 2012 - Indore, India -- MARKET WRAP FOR AGRICOMMODITY
* Chana rallied to end higher by 2.50% on short covering.
* Dhaniya remains bullish closing with a gain of more than 2%.
* Soybean corrects sharply on account on profit booking by traders.
Soybean witnessed a sharp correction closing with a net loss of close to 2% as traders booked profits after the recent rally on the day of contract expiry. Castor seed continues its upside movement ending higher by more than a percent on the back of consistent demand for the commodity in both international and domestic markets.
TECHNICAL VIEW
PEPPER (DECEMBER) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1-39690, R2- 40470 | S1- 38700 S2-37720
RM SEED (DECEMBER) VIEW
Trend: Consolidate | Strategy: Sell on high
R1- 4170, R2-4250 | S1-4050 ,S2- 4000
SOYABEAN (DECEMBER) VIEW
Trend: Consolidate | Strategy: Sell on high
R1-3330 , R2-3400 | S1- 3230 S2-3165
TURMERIC (DECEMBER) VIEW
Trend: Bullish | Strategy:Buy on dips
R1- 5480, R2-5590 | S1-5320 S2-5200
DHANIYA (DECEMBER) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1-5390, R2-5500, S1-5235 , S2-5110
JEERA (DECEMBER) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1-15150 ,R2-16450 S1-14700 , S2-14440
MENTHA OIL (DECEMBER) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1390, R2-1416 | S1-1350 , S2- 1320
CARDAMOM (DECEMBER) VIEW
Trend: Consolidate | Strategy: Buy on Dips
R1-1030 , R2-1050 | S1-1000, S2-980
CASTOR SEED (DECEMBER) VIEW
Trend: Bullish | Strategy: =Buy on dips
R1-3950, R2-4030| S1-3840, S2- 3760
CHANA (DECEMBER) VIEW
Trend: Consolidate | Strategy: Sell on high
R1-4320, R2-4410| S1-4190, S2-4110
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