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Pepper prices marked a sterling recovery after rising from the support of Rs28,800 last week. Factors such as improving global prices with 4.5% rise in Vietnam Pepper to VND1,17,000 (Ex-Vietnam) as compared to VND1,17,000, encouraging demand prospects pending new crop supplies supported the overall sentiment. Sugar prices sojourned into a flattish mode while staying above the crucial support of Rs2,850. An up tick in global prices led by gainful energy counters prompted the domestic prices to scout for support at the current levels. Mentha oil staged a massive rally making fresh highs of Rs1,674 while recovering from the support of Rs1,550.
NCDEX SOYBEAN (MAR)
NCDEX Soybean Mar contract is looking again consolidate for its intraday trading session. Now it has a resistance of Rs. 2710 and a support level of Rs. 2550. We suggest that an intraday trader should buy Guarseed at its decline to get high profit.
NCDEX CHANA (MAR)
NCDEX chana is trading in a bullish pattern. Now it has resistance level of 3660 and a support level of 3450. According to our research report chana will trade between these levels. An intraday trader should Buy NCDEX chana at lower levels.
NCDEX PEPPER (MAR)
NCDEX Pepper Mar contract is looking Consolidate for its intraday trading session. Now it has a resistance of Rs. 33050 and a support level of Rs. 31090. We suggest that an intraday trader should Sell Pepper on its higher levels.
