Angel Broking Pvt Ltd
Published on 18/01/2018 1:04:14 PM

Chana

Outlook

Chana futures may trade sideways to higher today on expectation of further buying at lower levels. However, expectation of higher crop and acreage may keep the prices under pressure.

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Angel Broking Pvt Ltd
Published on 18/01/2018 1:03:41 PM

Crude Palm oil

CPO futures may trade sideways on report of higher imports of CPO and weak international prices. Moreover, higher stocks and cut in base import prices by the government for second half of January may keep prices in a range.

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Angel Broking Pvt Ltd
Published on 18/01/2018 1:03:13 PM

Refine Soy Oil

Outlook

We expect Ref Soy oil to trade sideways to lower on cut in base import prices and higher stocks with the stockists. However, reports of improved demand in physical market may support prices

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Angel Broking Pvt Ltd
Published on 18/01/2018 12:58:04 PM

RMseed (Mustard seed)

Mustard futures expected to trade sideways due to expectation of technical corrections. However, good physical demand on anticipation of good uptake by oil mills may keep prices supported above MSP.

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Angel Broking Pvt Ltd
Published on 18/01/2018 12:57:42 PM

Soybean

Outlook

Soybean futures are expected to trade sideways to higher on reports of lower arrivals and improved oil mills demand. Higher incentives for oil meal export, improved estimates for meal exports will support soybean prices.

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Enrich Commodities India Pvt.Ltd
Published on 18/01/2018 12:48:10 PM

CRUDEOIL

Technical outlook

Crude Oil daily chart has formed “Rising wedge” pattern. The last few sessions been bullish but consolidated after breaking the channel’s support slope line. A break above the channel’s support slope line might push the trend to bullish further and the upside rally could test all the way through $64.50-65(4123-4155) levels in the upcoming sessions. Alternatively, if market retests the channel’s support slope line then it might have a chance turn bearish. Major Resistance holds at $65(4155) and support at $63.50(4059).

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Enrich Commodities India Pvt.Ltd
Published on 18/01/2018 12:46:51 PM

Gold

Technical outlook

Gold daily chart has formed "Ascending broadening wedge” pattern. The last session seems consolidated but bearish in trend as the prices have already broken the channel’s support slope line. The market is likely to continue on bearish momentum, testing all the way through$1320-1315 (29535-29410) levels in the upcoming sessions. Previous support become Resistance at $1335 (29910) and Key Support at $1313(29360).

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