Friday, 19 December 2014

Update on Agri Commodity













Soyabean




Support at 3250 and Resistance at 3360---3430

If it unable to close below 3250 then it could test 3360---3430 mark. Further upside rally seen only close above 3430 mark else it could test its support level of 3250 again

Two consecutive closes below 3250 will take to 3170---3130 and then to 3050 mark

Trade with levels only



Soyaref



Support at 586 and Resistance at 600

Close above 600 will take to 606---610 and then to 621+ mark else it could test its support level of 586 again

Two consecutive closes below 583 will take to 571---565 and then to 550 mark

Trade with levels only




Rmseed 




Told to buy Rmseed around 4050 level. Flared like anything and hit 4223

Now what to expect???


Support at 4150 and Resistance at 4230

Two consecutive closes above 4230 will take to 4290---4350+ mark else it could test its support again

Close below 4150 will see further panic till 4080---4030 level

Trade with levels only



Chana 





Not able to breach its support level of 3030 and skyrocketed to 3290 mark

Now what to expect???


Support at 3200 and Resistance at 3320

Two consecutive closes above 3320 will take to 3380---3450+ mark in days to come

Traders holding long in Chana can revise stop loss of 3200 on closing basis

Others can trade with levels only





Castorseed





Support at 4720---4650 and Resistance at 4850

Two consecutive closes above 4850 will take to 5050---5200+ mark in days to come else it could test its support again

Weekly close below 4650 will take to 4500--4400 level

Trade with levels only





CPO




CPO made a low of 413 and now trading around 414. We recommended selling below 427 mark

Now what to expect???

Close below 413 will see further panic till 409---404 and then then to 396 mark

Already booked part profit... Revise stop loss of 419 on closing basis





Cocudakl





Support at 1380 and Resistance at 1415

Close above 1415 will see upside rally till 1435---1460+ mark else it could test its support level of 1380 again. Further panic seen only weekly close below 1380 mark


Trade with levels only





Jeera





Flared like anything and hit 13770 mark. Told to buy around 12850 and above 13300 level. 

Now what to expect???

Support at 13300 and Resistance at 13850

Two consecutive closes above 13850 will take to 14050---14200+ mark in days to come

Already booked 80% profit... Now revise stop loss of 13300





Turmeric





Turmeric flared like anything and hit 8160 mark. We recommended buying around 7700 level

Now what to expect???


Support at 7950 and Resistance at 8200

Weekly close above 8200 will take to 8450---8600+ mark in days to come

Already booked part profit.. Revise stop loss of 7950 on closing basis





Dhaniya 





Not able to breach its resistance level of 13300 and crashed vertically to 12524 mark

Now what to expect???


Support at 12300 and Resistance at 12700---12850

Still looks weak and could test its support level of 12300. Weekly close below 12300 will take to 11800---11500 mark in coming weeks


On rise sell it!! Stop loss 12850 on closing basis
























































More will update soon...

Update on Bullion, Base metal and Energy








Gold





Below 26900... our target was 26700. It made a low of 26732 mark

Now what to expect???


Support at 26725 and Resistance at 27000---27300

Decisive break and sustain below 26725 will see panic till 26550---26400 mark else it could test its resistance level of 27000---27300 again

Looks choppy and has no clear direction... So trade safely with levels only



Silver




Support at 36100 and Resistance at 37300

Above 37300... will see further upside rally till till 37800---38300+ mark else it could test its support level of 36100 again

Break and close below 36100 will see further panic till 35700---35300 mark

Trade with levels only




Copper




Our positional sell call in Copper from 403 and 409 made a low of 401.25 and now trading around 403

Support at 401 and Resistance at 411---415

Close below 401 will take to 396---393---389 mark else it could test its resistance level of 407---411---415 again

Trade with levels only




Nickel




Crashed vertically and made a low of 962. Told to sell around 1030 level

Now what to expect???

Close below 960... will see further panic till 945---930 mark in days to come.. 


Revise stop loss of 1005




Lead





Crashed vertically and made a low of 115.85. We recommended selling below 123 and 121 mark

Now what to expect???

Support at 112---109 and Resistance at 118---121.50

Three consecutive closes + weekly close below 118 will take to 112---109 mark in days to come

Maintain stop loss of 121.50 on closing basis





Zinc





Told to sell Zinc around 137. Just made a low of 133 and now trading around 134 mark. Our downside target was 134---133

Below 133... panic remain continue till 131.50---130 mark in days to come

130 act as major support and weekly close below 130 will see nonstop panic till ???

Revise stop loss of 135.50 on closing basis





Aluminium






Support at 120 and Resistance at 122

Close below 120 will take to 118---116.50 mark in days to come else it could test its resistance again

Upper side seems limited in Aluminium but trade with levels only. 

Anything seems will update during market hours




Crude oil (Jan)




Support at 3470---3430 and Resistance at 3800

Traders can buy Crude oil in panic with stop loss of 3430 on closing basis

Other can trade with levels only




Natural Gas




Support at 230----224 and Resistance at 239---244

Below 230.. it could test 227---224. Two consecutive closes below 224 will see free fall in Natural gas else it could test its resistance level of 239---244 again

Upper side seem limited in Natural Gas but trade with levels only
































More will update soon...

Daily Currency Outlook




USDINR

Dollar/rupee snapped three-day gains on Thursday after the Federal Reserve pledged to keep interest rates low for a considerable time at its policy meet that may cause overseas inflows into both Indian debt and equities

USDINR saw a drastic fall from the level of 64.09 towards 63.24 levels since Tuesday (As per the special report update report) pair drop more than 1.30%. 

Today, USDINR may show 63.02 -62.80 levels which is next downside levels following to a long bearish candle stick formation on EOD chart.

Recommendation

Sell recommendation given from 63.50-63.48 levels was successful with pair drop towards 63.10 levels. Recommend to add below 63.05 levels with SL 63.20 for target 62.90/62.77.

EURINR

After a big gap down opening at 78.50 Vs previous close of 79.4250 levels, EURINR pulled towards 77.80 levels and settled at 78.01 levels. 

Today, EURINR may show 77.00-76.80 levels on downside following to a long bearish candle stick   formation on EOD chart coupled with negative crossover in between RSI 14 and 9 SMA.

Recommendation

Intraday Call Update STBT SELL in EURINR recommended around 78.05-78.10 with Stop loss 78.22 was successful with pair drop towards 77.4725 levels. Recommend to add again around 77.68- 77.72 levels with SL 77.82 for target 77.40.


GBPINR

  After a big gap down opening at 98.86 Vs previous close of 100.27 levels, GBPINR pulled towards 98.6175 levels and settled at 99.04 levels. 

Today, GBPINR may show 98.40-98.00 island reversal pattern on EOD chart coupled with negative crossover in between RSI 14 and 9 SMA.

 Recommendation:

Fresh sell below 98.70 stop loss 98.85 Target 98.50-98.30 (CMP 98.85). (Stop loss has been triggered in raday second sell call at 98.92 levels given below 98.80)


JPYINR

After a big gap down opening at 53.76 Vs previous close of 54.49 levels, JPYINR pulled towards 53.3175 levels and settled at 53.37 levels. 

Today, JPYINR may witness volatile move ahead of BoJ Governor Haruhiko Kuroda press conference around 12.00 (noon) IST. The Bank of Japan voted to hold monetary policy stable in an 8 to 1 board vote, maintaining a pace to buy ¥80 trillion of government bonds annually.

Recommendation:

JPYINR made a low 52.8850 levels and currently trading at CMP 52.9450 levels as per the carry forwarded sell  call given from 53.36 levels with stop loss 53.50. Fresh sell below 52.77 Target 52.50-52.30 stop loss 52.90.


Major Economic Data & Events Schedule today

Time
Currency
Economic Indicators
Forecast
Previous
Possible Impact
Tentative
JPY
Monetary Policy Statement
-
-
-
10:00am
JPY
All Industries Activity m/m
0.20%
1.00%
Negative
Tentative
JPY
BOJ Press Conference
-
-
-
12:30pm
EUR
GfK German Consumer Climate
8.90
8.70
Positive

EUR
German PPI m/m
-0.20%
-0.20%
Neutral
2:30pm
EUR
Current Account
27.8B
30.0B
Negative
Day 2
EUR
EU Economic Summit
-
-
-
3:00pm
GBP
Public Sector Net Borrowing
14.8B
7.1B
Positive
4:30pm
GBP
CBI Realized Sales
30.00
27.00
Positive
                                                   
Impact: High Low Medium