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NCDEX Guarseed and Refsoyoil may trade higher: Angel Broking

Posted On: 2016-12-29 09:32:17

Daily Market Wrap Up by Mr. Anuj Gupta - Head Technical Research - Commodities & Currencies, Angel Broking

NCDEX Guarseed Jan

Today NCDEX Guarseed Jan opened with gap down at 3,229 levels and during the day it rallied sharply and made a intraday high of 3,276 levels. Today prices have closed almost 0.40% higher and finally closed at 3,239 levels. As per the candlestick pattern prices have formed "Bullish candlestick pattern" which indicates further strength.

For tomorrow we expect prices may trade higher to test 3,300 - 3,350 levels. Support could be seen at 3180 / 3130 levels and resistance may be observed at 3300 / 3350 levels.

NCDEX Refsoyoil Jan

Today NCDEX Ref soy oil Jan opened with gap down at 715 levels and today it made a intraday low of 714.60 levels and after that prices have rallied sharply towards 719 levels. As per the candlestick pattern prices have formed "Bullish candlestick pattern" which indicates further strength.

For tomorrow we expect prices may trade on a higher side to test 722 - 725 levels. Support could be seen at 712 / 708 levels and resistance may be observed at 725 / 728 levels.


Source: Equity Bulls

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