Sharekhan Commodity Calls

MUMBAI: Sharekhan has advised players to go long on NCDEX Jeera for a target of Rs 11,300 keeping stop loss at Rs 10,450. NCDEX Jeera has so far corrected nearly 62 per cent from the Rs 14,190 levels and made a low of Rs 10,480.

Looking at the positive divergence on hourly chart, Sharekhan expects an upmove in the commodity to the extent of 23 per cent of this entire corrective move, provided Rs 10,480 holds. However, if it breaches Rs 10,480 levels it may test Rs 10,000.

Sharekhan has also suggested following commodity calls.

Buy MCX October Cardamom above Rs 723 and sell if it falls below Rs 710.

Buy NCDEX October Sugar at Rs 1680 keeping a stop loss at Rs 1660.

Buy NCDEX October Pepper at Rs 1238 keeping a stop loss at Rs 1223.

Buy MCX Sept Mentha Oil above Rs 625 / Sell below Rs 605.

Buy NCDEX October Turmeric at Rs 3,575 keeping a stop loss at Rs 3,535.