Sell MCX Crude Oil around 4080 at stop loss of 4165 | Sell NCDEX Guar Seed | Sell MCX Zinc | Buy NCDEX Turmeric |

MCX CRUDE OIL MARCH:  As  expected,  crude  oil  prices  witnessed  sharp  decline after  breaching  the  support  of  6090  and  tumbled  till the low of 4032 and by the ended it recovered slightly and finally settled at 4093. Going forward, the price is likely  extending  its  losses  till  the  supports  of  3960 then  3940  levels.  Thus,  we  continue  to  recommend selling around 4080 for above mentioned targets. Action: Sell


MCX ZINC MARCH: Followed  with  other  base  metals,  zinc  price  also slipped  lower  till  225.80  during  yesterday’s  session and  ended  at  226.25.  The  immediate  support  is  at 225.70  a  break below  that  will  drawdown  the  prices till  the  key  trend  line  support  of  221.50  and  lower. Therefore,  we  advise  selling  on  break  of  225.70  for targets of 222 for the da. Action: Sell

NCDEX GUARSEED APRIL: After  opening  with  a  minor  gap  down  at  4260,  guar seed prices reverted back  sharply and  ended at 4338. Prices  have  once  again  come up  till the  neckline resistance  of  Head  and  shoulder  pattern.  Therefore,for the day traders can initiate short positions around 4350 levels for downside targets of 4200. Action: Sell.

NCDEX TURMERIC APRIL: As  expected,  dahniya  prices  inched  slightly  higher from  the  key  trend  line  supports  on  Wednesday  and ended at 5530 gaining a percent. As long as the prices hold above the trend  line  supports of 5400, the trend is likely to remain upward. Therefore, we recommend buying  around  5500  levels  for  upside  targets  of  5750 then 5850 levels.. Action: Buy.

   Click here to read the full report