Short term trend in Agri commodity Market looks volatile with a moderately bearish trend emerging for most agri counters from improved rainfall prospects in coming days.
NCDEX Soybean futures closed flat as the prices tries to consolidate in current price levels as pre - season rains have arrived in largest soybean producing state of M P. Soybean Jun’16 contract closed 0.02 % higher to settle at Rs. 4,0 37 per quintal.
We expect Soybean prices to trade sideways to down on anticipation of muted physical demand coupled with dwindling in supplies the spot markets. However, higher edible oil imports and lower meal export may keep the prices in check.
SELL COPPER JUN AT CURRENT MARKET PRICE 309.60, TARGET - 305, STOPLOSS - 312.20
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