Tuesday, February 21, 2012

NCDEX Trend and Tips For Today: 21st Feb '12

NCDEX Tips, NCDEX Trend, NCDEX Chana, NCDEX Jeera, Free NCDEX tips, NCDEX soyabean, Guarseed, free commodity tips, agri trading tips, commodity intraday tips

Usually the new domestic crop arrives in the market by March and is expected to be delayed this year due to adverse weather conditions. As a result of which market may witness the arrival pressure to continue till mid April. On the demand supply scenario, we expect chana crop this year to be around 46-47 lakh tonnes compared to 50 lakh tonnes last year. Further, a tight supply scenario is painted in the year ahead on the back of negligible carry forward stock for the year 2012. Carry forward stock is expected be around 0.5 lakh tonnes compared to 1.8 lakh tonnes in 2011 which goes to show that markets would remain supported after the arrival pressure eases.

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.

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