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Published on 10/08/2020 6:27:03 PM | Source: Kedia Advisory

Mustard prices can see an initial drop till 4900 levels - Kedia Advisory

Posted in Commodities Reports| #Commodity Tips #Kedia Advisory

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NCDEX mustard is on a bullish trend since March this year. Prices were trading in a range in June and July before they had a breakout at 4890 levels. Prices for RMSEED on NCDEX can drop till 4900 levels before they turn bullish again. Mustard is expected to touch levels of 5450 - 5600. Ichimoku indicators suggest mustard prices to remain bullish. RSI is at 81.06 levels which suggests mustard may be slightly overbought. The Vortex indicator suggests markets would remain bullish for the next few trading sessions. Choppiness Indicator is below 38.20 levels which suggest that there would be less volatility would be there in the market.

Mustard prices can see an initial drop till 4900 levels, one should accumulate the same for the objective of 5450-5600.

 

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