Commodity Guarseed short selling
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| Commodity Guar |
Commodity guarseed March futures trade fallen on yesterday’s trading sessions in commodity by continuing the previous trend.
In commodity market guarseed made a high of 2975 then low of 2839 and settled lower at 2839 levels. Closing of the daily candle renders downside movements for the day. Crucial support is seen at 2770 levels (previous swing lows).
In commodity the breach and sustained trade below would lead the prices to further lows. However, on the higher side key resistance is seen at 2880 levels.
The momentum indicator RSI 14 daily settled at 0.436 and showing downside movements. We expect guar seed price to remain lower for the day and recommend selling at the resistances.
Guar seed NCDEX: Sell March at 2860 TP 2815 SL 2877
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