MCX LEAD FEB: Lead prices opened lower in the last session and prices corrected for most of the session till low of 167.05. Prices have been rising in a sideways uptrend since last few weeks after taking strong support at its short term rising trend line and near 20 days simple moving average currently around 165.90 level. Prices are expected to rise further from these levels towards immediate resistance placed around its recent high of 172.50 level. Action: Buy
NCDEX CHANA MAR: Chana prices opened higher in the last session and prices rose for most of the session till high of 3880. Prices have been recovering gradually since last few weeks after breaking out from its short term declining trend line resistance and taken strong support at its short term rising trend line. Prices are expected to recover further from these levels towards next strong resistance placed around 23.6% Fibonacci retracement of its fall from high of 4870 till low of 3651, which is placed near 3940 level. Action: Buy
NCDEX RMSEED APR: Rape/Mustard seed prices opened flat in the last session and prices recovered for the most of the session till high of 4150. Prices have taken strong support at its break out level of short term falling trend channel pattern coinciding with 20 days simple moving average currently around 4098 level. Prices are expected to hold this support and rise from these levels towards immediate resistance placed around its recent swing high of 4226 level. Action: Buy
NCDEX COCUDAKL MAR: Cotton seed oil cake prices have fallen sharply in the last two sessions from its recent high of 1776. Prices have been correcting gradually since last 6-7 weeks after making 6 months high of 1885 and are expected to correct further from these levels towards immediate support placed around 61.8% Fibonacci retracement of its rally from low of 1492 till high of 1885, which is placed near 1642 level. On the higher side immediate resistances are placed around 1715 and 1760 levels. Action: Sell
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