Commodit Tips

NCDEX Agri Commodity Updates Today

MCX Mentha Oil price traded range bound in the spot market.
Mcx Mentha oil futures prices traded in a range but at the end of day it closed positive by taking cues from spot market, which was almost same in comparison to previous day. In spot market no major activity was observed. Mentha oil prices closed at Rs.902.80/ kg up by 0.53% in comparison to previous day. Outlook for the day is bullish, if the prices sustain above 915 levels. It has major resistance near 925.
NCDEX Tips

Soybean bullish for short term due to festive demand.
NCDEX soybean futures edges higher on strong demand. It opened with gap up with a positive note. NCDEX soybean November futures ended the trade at Rs. 3539 per quintal, up by 3.21% from its previous day’s close. Prices may follow uptrend in today’s trading session and expected range for the day would be between 3530 and 3600. Hence, it is recommending buy on dips for the day.

NCDEX RM seed futures recover from its previous fall.
NCDEX RMseed futures witnessed recovery from its previous fall during Wednesday’s trade on account of short covering. It opened lower but resumed its trade in upward direction recovering its previous losses. NCDEX Rmseed November futures ended the trade at Rs. 4665 per quintal, up by 3.35% from its previous day’s close. Buy on dips is recommended for today’s trading session.

 

NCDEX Levels and Tips Today-

Commodity R2 R1 S2 S1 Intraday Strategy
MENTHA OIL (OCT.) 935 920 893 881 BUY ON DIPS
CARDAMOM (NOV.) 903 858 793 768 SELL ON HIGH
SOYBEAN (NOV.) 3614 3569 3504 3479 SELL ON HIGH
CHANA (NOV.) 5150 5105 5040 5015 SELL ON HIGH
CASTORSEED (NOV.) 4264 4219 4154 4129 SELL ON HIGH
RMSEED (NOV.) 4785 4715 4605 4525 SELL ON HIGH
DHANIYA (NOV.) 11660 11480 11200 11000 SELL ON HIGH