MARKET OUTLOOK OF NCDEX JAN 2015

Soya Bean: Jan. Soya bean prices have found support between 3656—3636 zones. A pullback rally will commence once prices break above 3755. Counter will rally towards 3829/3869 levels in that case. A daily close below 3630 will push prices lower towards 3537/3480 levels. Ref. 

Soya Oil: The outlook for Ref. Soya Oil prices will remain negative until prices stay below 626 levels. Weakness below 612 will push the counter lower towards 610.60/607 levels. A weekly close below 607 will open downside targets of 598.50/592.30 levels in the counter. Momentum above 626 will see prices rally towards 634 levels.

Chana: Jan. Chana prices managed to bounce from its support areas around 4700 levels.

Momentum above 4970 will push prices higher towards 5044/5120 areas. Failure to sustain at higher levels though will see prices drift lower towards 4675/4633 areas. We expect the counter to be range bound for the coming week.

RM Seed: Jan. RM Seed prices have found immediate support between 4200—4187 over the past 3 sessions. Momentum above 4320 will trigger a pullback rally towards resistance between 4400—4450 zones. The downtrend will resume towards 4140/4110 levels once prices start to sustain below 4187 levels.