Outlook on Soybean, Mustard: Kotak Commodity

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Outlook on Soybean, Mustard: Kotak Commodity

Kotak Commodity has come out with its report on Soybean & Mustard.

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Kotak Commodity has come out with its report on Soybean & Mustard.

Soybean: Soy bean futures are expected to trade firm on the back of firm international market. The undertone in the medium term is expected to remain firm on international weather concerns. The NCDEX September contract is getting support near Rs.2400-2420/qtl while resistance is seen near Rs.2440- 2450/qtl. ACE September contract is getting support near Rs.2401-2376 and resistance is seen near Rs.2441-2451.

Mustard seed futures are expected to trade mixed during the session. The undertone is expected to remain weak in medium term on huge stocks for mustard seed amid good Kharif oilseed prospects. The NCDEX September contract is getting support near Rs.2930-2940 while resistance is seen near Rs.2970-2980. ACE September contract is getting support near Rs.2947-2930 and resistance is seen near Rs.2976-2986. 

Refined Soybean Oil: Refined soy oil futures are expected to trade firm taking cues from firm international markets. The undertone is expected to remain firm on intraday basis. The NCDEX September contract is getting support near Rs.660- 658 and resistance is seen near Rs.666-668. ACE September contract is getting support near Rs.660- 656 and resistance is seen near Rs.667-670.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click on the attachment