Tuesday, 1 September 2015

Update on Agri Commodity







Soyabean

  
 
 
Took U-Turn and made a high of 3277. Our selling stop loss triggered and now trading around 3260

Now what to expect???

Support at 3220 and Resistance at 3290---3320

Three consecutive closes + weekly close above 3320 will see fire in Soyabean till else it could test its support level of 3220 again

Two consecutive closes below 3220 will see panic again till 3150---3180 and then to 3050 mark

Traders can trade with levels only




Soyaref



Support at 560 and resistance at 580

Three consecutive closes + weekly close above 580 will take to 600---608 and then to 620+ mark in days to come
 
Fresh selling can initiate only close below 660 mark
 
Trade with levels only... Anything seems will update via SMS



Rmseed



Told to buy above 4250. Just made a high of 4310. 

Now what to expect???

Support at 4250 and Resistance at 4320

  Close above 4320 will take to 4380---4430+ mark in days to come else it could test its support level of 4250 again
 
Further panic seen only close below 4250 mark
 
Close below 4250 will take to 4210---4180 mark. 4180 act as major support
 
Trade with levels only



Chana


 

Support at 4800 and Resistance at 4960---5020

 
Traders can trade in a range with strict stop loss and wait for confirmation... Anything seems will update via SMS


Castorseed



We recommended buying in Castorseed around 4130. Just made a 4207. 

Now what to expect???

  Close above 4220 will see further upside rally till 4280---4350+ mark in days to come
 
Revise stop loss of 4130



Turmeric



Clearly indicated to buy TMC above 8100. It flared like anything and hit 8872 mark and now trading around 8700
 
Now what to expect???
 
Support at 8500 and Resistance at 8900
 
Two consecutive closes above 8900 will take to 9200---9350+ mark in days to come
 
Traders holding long as per our level can revise stop loss of 8500



Jeera



Support at 15800 and Resistance at 16800

Two consecutive closes below 15800 will see free fall in Jeera till 14800---14300 mark in days to come else it could test its resistance level of 16800 again

Further upside rally seen only close above 16800 mark

Traders can trade with levels only



Hope you all enjoyed rally in Guarseed... From 3750---4320. Now revise stop loss of 4050.





















More will update soon...

Update on Gold, Silver, Copper and Crude oil








Gold



  As expected.. Not able to breach its support level of 26500 and bounced back to 26896 again

Now what to expect???
 
Support at 26680---26550 and Resistance at 27000---27200

It looks positive and could test its resistance level of 27000---27200. Further upside rally seen only close above 27200 mark else it could test its support level of 26680---26550 again

Further panic seen only close below 26550 mark

Trade safely with levels only



Silver



Support at 34800 and Resistance at 35800---36300

Close below 34800 will take to 34300---33800 else it could test its resistance level of 35800---36300 again
 
Looks choppy and has no clear direction... Till then traders can trade with level only and wait for confirmation
 


Copper


 
Below 340... our target was 337---334.50. It made a low of 335.10 and bounced back
 
Now what to expect???
 
Support at 345.80 and Resistance at 348.80

Decisive break and sustain below 345.80 will take to 342.80---341.50. Further panic seen only close below 341.50 mark else it could test its resistance level of 348.80 again

Above 348.80... once again it could test 351.80---352.50+ mark
 
Traders can trade with levels only
 


Crude oil



  Not able to breach its support level of 2890 and bounced back sharply to 3260 mark. 

Now what to expect???

Support at  3070 and Resistance at 3260---3350

Looks positive and could test its resistance level of 3260---3350 mark

Fresh selling can initiate only close below 3070 level


Traders can trade with levels only.... Any thing seems will update via SMS


















More will update soon... 

USDINR may extend its recent gain as India's GDP growth slows to 7% vs. 7.5% on quarter






Image result for Dollar/Rupee
 


USDINR may extend its recent gain as India's GDP growth slows to 7% vs. 7.5% on quarter

Indian economy expanded at a slower than expected rate in the fiscal first quarter led by fall in agricultural, electricity and manufacturing output, putting pressure on the Reserve Bank of India to cut rates at policy review on Sep 29.


India's Gross Domestic Product calculated at constant prices expanded 7% compared with 7.40% a year ago and 7.50% in the fiscal fourth-quarter, government data released Monday showed.


India's fiscal deficit in the fiscal first quarter (Apr-Jul) was 69.3% of the budgeted target for the fiscal year ending Mar 31 on higher subsidies outgo posing challenge for Finance Minister Arun Jaitley to meet the deficit aim.


Fiscal deficit in the first four months of the fiscal year (Apr-Jul) was at Rs 3.85 trillion, data released by the government showed Monday. Fiscal deficit was 63.2% during the same period a year ago.



Technical - A long bullish candle stick formation on EOD chart is indicating for bullishness in USDINR. In near term USDINR may show 67.00-67.20 next resistance level and Intraday upside is expect to come above 66.85 levels.







Image result for Euro 


 

The euro remained modestly higher against the softer dollar on Monday after data showing that euro zone inflation remained low in August, adding to concerns that the European Central Bank may scale up its stimulus program.



Technical Review:

EURINR failed to break the previous day low 74.6150 and after hitting a low of 74.71 settled at 74.8875 levels.  Formation of doji candle stick on EOD chart is indicating for indecisive trend in days to come. 

Intraday correction is seems to take place on rise towards 75.25 with stop loss above 75.40. Target 75.00 then 74.80.



Image result for GBP 

 


Pound rebounds from near two-month low Monday tracking dollar weakness weighed down by sell-off in both Asian and European stocks following reports that Beijing has scrapped large-scale share purchases as a method of propping up markets.

Technical Review:


After hitting a low of 102.7050 GBPINR saw a pullback towards 103.0550 levels and settled at 103.01 levels. 

Today, GBPINR is expected to show positive move towards 103.50 and above following to a long bullish candle stick on EOD chart.

Intraday buy is expect to come around 102.75-102.80 with stop loss below 102.60



On the other hand a break below 102.60 only could result in downside move towards 102.20 and below.





Image result for yEN


Yen started the week with lack luster move following reports that Chinese government has stopped intervening to prop up its stock market amid Chinese stocks trading in the negative territory.


Technical Review


Sell strategy given below 54.74 was not initiated as JPYINR continued to trade above 54.80 levels. Intraday price action resulted in formation of doji candle stick which is indicating for indecisive move in days to come. 


Near term support is seen at 54.74 and short term correction is expected to come below this level only.

Hence, traders may buy around 55.00-54.90 with stop loss below 54.75.






Major Economic Data & Events Schedule today

Time
Currency
Economic Indicators
Forecast
Previous
Possible Impact
9:15am
JPY
10-y Bond Auction
-
0.40|2.8
-
12:45pm
EUR
Spanish Manufacturing PMI
53.9
53.6
Positive
1:15pm
EUR
Italian Manufacturing PMI
56.2
55.3
Positive
1:20pm
EUR
French Final Manufacturing PMI
48.6
48.6
Neutral
1:25pm
EUR
German Unemployment Change
-5K
9K
Positive

EUR
German Final Manufacturing PMI
53.2
53.2
Neutral
1:30pm
EUR
Final Manufacturing PMI
52.4
52.4
Neutral

EUR
Italian Monthly Unemployment Rate
12.70%
12.70%
Neutral

EUR
Italian Quarterly Unemployment Rate
12.50%
12.40%
Positive
2:00pm
GBP
Manufacturing PMI
51.9
51.9
Neutral

GBP
Net Lending to Individuals m/m
3.9B
3.8B
Positive

GBP
M4 Money Supply m/m
0.20%
-0.50%
Positive

GBP
Mortgage Approvals
68K
67K
Positive
2:30pm
EUR
Unemployment Rate
11.10%
11.10%
Neutral
7:15pm
USD
Final Manufacturing PMI
52.9
52.9
Neutral
7:30pm
USD
ISM Manufacturing PMI
52.6
52.7
Negative

USD
Construction Spending m/m
0.80%
0.10%
Positive

USD
ISM Manufacturing Prices
39.7
44
Negative

                                         
Impact: High Low Medium[i]













More will Update soon...