Ncdex Commodity Intraday Sell /Buy Calls 29 January

NCDEX Soybean Feb. has witnessed strong resistance levels at 3900 levels. Till price manages to trade below these levels our bias remains weak, targeting 3800 and 3760 levels. Any decisive close below 3750 can change our bias short term bullish bias.


Contract - Feb
Strategy - Sell
Entry - 3850-3860
Target - 3760
Stop loss - 3900 



NCDEX Soya Oil Feb. remains weak for the day as price has failed to clear key 687 levels on upper end, leaving room for short term declines towards 680 followed by 677 levels. Resistance is eyed at 687 and 690 levels.



Contract - Feb
Strategy - Sell
Entry - 686-687
Target - 677
Stop loss - 690 



MCX CPO Jan contract is still looking weak with the price objective of 520 followed by 515 levels. Any gains could cap at 530-531 levels.



Contract - Jan
Strategy - Sell
Entry - On Rallies
Target - 515
Stop loss - 531