May 12, 2011

Commodity Guarseed levels and Report 12 May

The commodity guarseed prices has done higher intial trade and finally showed the recovery all the gains on yesterday’s trading sessions by reversing the previous trend. It made a low of 3193 then high of 3246 settled at 3211.

The commodity Guarseed resistance is seen at 3228 levels (previous day’s high) and showing negative sentiments to sustains above these levels. The guarseed Prices are witnessing trend line support at 3240 levels.

The momentum for commodity guarseed indicator RSI 14 daily is trending at 0.641 levels and suggesting higher potential. We expect prices to trade higher and recommend buying at lower levels.

Guarseed NCDEX: Buy May at 3235 TP 3280 SL 3205

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