Daily Ncdex Trading Tips - 20th march

Research_4u

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Intraday Ncdex Commodity Trading Tips 20 March

SOYABEAN TECHNICAL OUTLOOK:

On the technical charts, Soybean April futures trend is sideways to bullish where it has resistance at 4380 on an intraday basis & 4270 is an immediate support. Soybean closed at 4327.

Momentum indicator RSI is currently positively biased & is indicating bullish trend in the commodity. Traders can take a long position at around 4305 with a stop loss of 4270 for the day target of 4380.

FUNDAMENTAL OUTLOOK:

Soybean exports from US continue to the Chinese Markets. Unfavorable weather conditions can create volatility in the price of Soybean.

CHANA TECHNICAL OUTLOOK:

From an intraday perspective, chana April contract will trade on a neutral to bearish note. A crucial support is seen around 3240 & resistance is placed at 3340. Yesterday, Chana closed at 3311.

Intraday traders can take a buy position in chana around 3280 with a stop loss at 3240 & a day target of 3340....Read More

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