22/01/2015

REF SOY OIL FEB NCDEX

Date and Time

22/JAN/2015

Ref Soy Oil Feb NCDEX Prices failed to recover firmly from the resistance of 659.80 on dated 15

STOCK: Ref Soy Oil

January 2015, made low of 636.20 levels in previous day and finally closed lower around 640

Feb

levels. As subdued domestic market demand kept trend down. Prices are still strongly held the

Call: BUY

base support of 635, but major upside views are seen only once it clears the technical resistance

CMP: 640

of 672 (at closing basis) towards 687/702 levels. Moreover, an increase in volume along with OI

Initiation Level:

would support the upward bias. However, unable to do so could see a range bound market and

Above 645

major weakness is seen only if prices close bottom horizontal support of 637 that could negate

Book Profit (Level 1):

present uptrend in the near term. India imported 11.62 million tonnes of edible oil during Sep-

652.

Oct 2013/14 compared to 10.68 million tonnes during the same period previous season, stated

Book Profit (Level 2):

the Solvent Extractors' Association (SEA). Indias 2013/14 soyoil imports stood at 1.95 Mn T

668

against 1.09 Mn T in 2012/13 season. Palm oil purchases were slightly lower at 7.29 Mn T

Stop Loss Below: 638

against 8.29 Mn T last season. Sunflower oil imports were recorded at 1.51 Mn T against 0.97 Mn

Conviction Level:

T in 2012/13. Hence, we recommend buy above 645 could see upward bias towards 652

Moderate Risk.

followed by 663 for the day.

Reasoning. (Read
Technical
commentary).
Short term Trend:
Bullish.
Medium Term Trend:
Bullish.
For the Traders: BUY
For Aggressive
Traders: BUY
Support: 635-630-626
Resistance-645-652667
Duration: 4-5 Days
Recommendation:On the basics of technical
and Fundamental analysis
we are Recommending to
BUY Ref Soy Oil Feb above
(645) with the Stop Loss
of below 635 for the
Target of 656 and 667.
REFSOYOIL FEB DAILY TECHNICAL CHART

Date and Time

MENTHA OIL JAN

22/Jan/2015

Mentha Oil Jan: Prices rebounded firmly from the support of 719.90 levels on dated 20

STOCK: Mentha Oil Jan

January 2015, made high of 745 levels in previous day and finally closed at higher 739 levels

Call: BUY

as improved domestic market demand kept trend up. There are reports of pickup in demand

CMP: 739

at these levels but with high stocks, the uptrend gets limited. The winter season export and

Initiation Level: ABOVE

domestic demand were expected to pick up in the past few weeks. Latest reports from Spice

745

Board indicate that for the period April December last year, exports for Mint value-added

Book Profit (Level 1):

products like Oil, Menthol and its crystals rose 94% in volumes at 17,850 tonnes and 39% in

762

value at Rs 2202 Cr w.r.t. same period the previous year. Banning of Gutka in some states

Book Profit (Level 2):

continues having negative impact on Mentha Oil demand. However, the volume is seen

777

steadying these days along with a decline in OI suggests a downside directive moves. On the

Stop Loss: Below 720

other side, if prices breach 200 SMA resistance of 748 in closing basis could turn the outlook

Conviction Level:

into positive territory in the near term. Hence, we recommend buy on deeps 745 could see

Moderate Risk.

upward bias towards 762 followed by 772 for the day

Reasoning. (Read
Technical commentary).
Short term Trend:
Bullish.
Medium Term Trend:
Bullish.
For the Traders: BUY
For Aggressive Traders:
BUY
Support: 729-715-700
Resistance-745- 762780
Duration: 4-5 Days
Recommendation:On the basics of Technical
and Fundamental analysis
we are recommending BUY
Mentha Oil Jan above 745 for
the target of 770 808 with
a strict stop loss of 710.

MENTHA OIL JAN DAILY TECHNICAL CHART

CCHATECHNICALCHART

CASTOR SEED FEB NCDEX

Date and Time

22/Jan/2015

Castor Seed Feb NCDEX: Prices slumped previous couple of sessions from the high of 4857
STOCK: Castor Seed Feb

dated 06 January 2015, made low of 4240 in previous session and prices traded lower in

Call: SELL

previous day later finally closed lower at 4% lower circuit 4240 levels. Castor seed February

CMP: 4240

as weak domestic market demand high stocks and bearishness in International markets kept

Initiation Level: Below

pressure on the domestic market sentiments. The higher rates were not sustainable for Castor

4100

seed even as traders anticipate demand to rise in coming weeks that could support the prices

Book Profit (Level 1):

at these levels. Lower production prospects in International markets firmed up prices as any

4000

import would get costlier.

Book Profit (Level 2):

Total production of Castor Seeds in India for the year 2013-14 is 12.03 lakh tones. It has

3910

decreased by 11% as compared to previous year. Estimated Total production of Castor Seeds

Stop Loss: Above 4230

in India for the year 2014-15 is 12.30 lakh tones. It has decreased by 2.2% as compared to

Conviction Level:

previous year. Prices are however at strong psychological resistance level of 4500 for

Moderate Risk.

February contract. Hence, we recommend sell only a voluminous break below 4100 could see

Reasoning. (Read

downside bias towards 4000 followed by 3910 for the day.

Technical commentary).
Short term Trend:
Bullish.
Medium Term Trend:
Bullish.
For the Traders: SELL
For Aggressive Traders:
SELL
Support: 4180-40003910
Resistance: 4330-4460
Duration: 4-5 Days
Recommendation:On the basics of Technical
and Fundamental analysis
we are Recommending sell
Castor Seed Feb NCDEX
below 4120 for the target of
4000 3860 with a strict
stop loss above 4280.

CASTOR SEED FEB DAILY TECHINICAL CHART

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