Tuesday, June 16, 2015

June 16, 2015 Weak trend seen in Agri Commodity Market

Markets exchange frail for Agri Market things as good reports on the Monsoon front keep pattern feeble. It looks bearish as of now though, as heavy rainfall is seen in the most parts of India. Rains till date are reported at 11% excess as per IMD. Though reports are still not favourable from the crucial areas of North-West India. The Monsoon progress over the next few weeks would remain critical as the sowing for the kharif crops are dependent on that.


NCDEX Chana kept on exchanging frail as enhanced Monsoon conditions in Central and South India kept trend weak as that is supposedly useful for sowing of kharif Pulses. NCDEX Chana opened at 4484 and trading at 4477. Sell NCDEX Chana for today with stoploss-4600 & T1/T2 - 4490/

Where as NCDEX Soyabean may trade on sell on rise. Traders should adopt a strategy of sell on rise to trade in this agri-commodity to have a good risk to reward ratio. Sell NCDEX Soyabean Today with stoploss-3680 & T1/T2 - 3540/ 3490

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