Agri market outlook and sector updates: Nirmal Bang

Agri market outlook and sector updates: Nirmal Bang Guar Seed: We have seen prices have taken support to 2140 and bounce back. Negative crossed over in RSI and MA indicates the negative momentum but if it consolidates with the same support and trades above 2260 we can expect the upside trend in the counter.

Chana: The counter has breached the support and trades below that indicate the weakness in the counter we are expecting the counter to test 2240-2200 in the short run. Negative crossed over in RSI and MA with +DI and –DI crossed over indicate the further weakness in the counter.

Pepper: The counter has formed the DOJI formation indicate the uncertainty in the direction. We are expecting the prices to be range bound between 13900 and 14300 for the day. Wait for the breakout. Negative crossed over in RSI and MA indicates some negative momentum if it trades below 13900 levels.

Jeera: Jeera too has breached the trendline support and heading south ward. Negative crossed over in RSI and MA with MACD indicates the prices to fall further till 11400 and 11350 levels for the day. We should sell on rise.

Turmeric: We have seen the counter has formed DOJI in the counter which indicates the uncertainty of the trend we should wait for the day to find the direction in which way the market is heading. Negative RSI and MA indicate that the trend likely to be sideways to down. Expecting the prices to test 7800 and 7750 in the short run.