Soya Oil Market Update: August 2014
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api-234732356Soya Oil Market Update: August 2014
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Powered by AIA 'consolidate' trend strategy implies that the commodity prices are expected to stabilize and fluctuate within a range without significant upward or downward movements. Commodities such as refined soya oil, jeera, and guarseed for August contracts are expected to follow a consolidate strategy. This suggests traders should be cautious and potentially focus on price movement within a defined range rather than expecting breakout trends .
The NCDEX Castorseed August contract recently saw an increase of 1.29%, closing at 4242. The trend strategy for it is 'buy on dips', indicating that while the price may temporarily decrease, the overall trend is upward, and buying during price drops could be advantageous .
The NCDEX Guargum August contract exhibited a positive net change with an increase of 0.21%, closing at 14220 amid an overall negative trend in the market. This suggests a potential specific demand or market condition affecting guargum, indicating resilience or bullish sentiment in contrast to other commodities that trended downward .
The NCDEX Chana August contract closed at 2773, declining by 0.96%. The strategy suggested is 'sell on high,' indicating a bearish outlook where prices are expected to drop from their highs. This reflects negative market sentiment and anticipation of further decline, suggesting investors should consider selling when prices rise temporarily .
TheEquicom's disclaimer highlights challenges such as the reliability of information, the need for independent assessment, and the inherent risks in commodity trading. It suggests that investors should not solely rely on the report for decisions, and they should perform their analysis or consult financial advisers. This acknowledges market volatility and legal disclaimers of liability, underscoring the importance of due diligence in investment decisions .
The trend strategy for turmeric is 'buy on dips,' indicating an overall positive outlook where temporary declines are seen as buying opportunities. With resistance levels at 6760 and 6860, and support at 6140 and 6095, traders could look to purchase around the support levels anticipating a rebound towards resistance, profiting from potential increases within these boundaries .
On a recent trading day, the NCDEX Soybean October contract closed down by 1.77%, reflecting a negative market trend. This decline suggests challenges in demand or market conditions affecting soybean, indicating bearish sentiments that might persist in the short term, characterized by price reductions .
The 'buy on dips' strategy indicates a positive longer-term outlook for RMSEED, suggesting that price decreases are viewed as opportunities for purchasing. Investors might use this information to acquire RMSEED when its prices drop to support levels, anticipating an eventual rise towards resistance levels for potential gains .
Resistance and support levels are critical in analyzing potential entry and exit points for trades. Resistance levels indicate a price point where a commodity tends to stop rising, while support levels signify a price where it stops falling. For refined soya oil, the resistance levels are set at 690 and 698, and support at 668 and 662. Traders might use these levels to decide when to buy (near support) or sell (near resistance), taking advantage of price movements within these bounds .
The trend strategy for the NCDEX Soybean October contract is 'sell on high.' This indicates that the analysis predicts a bearish trend, suggesting that prices might decrease from their current level, and traders are advised to sell when prices spike .