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NCDEX JEERA (MAR)
Jeera futures may remain sideways facing resistance near 14,400 levels. Next cumin seed crop is reported well; hence old cumin seed coming rapidly in the markets. Moreover, new cumin seed arrival is also increasing. It is trading in a Consolidate pattern with having a resistance of 14400 and a support level of 13500. We suggest you to Sell Jeera on higher Levels.
NCDEX PEPPER (MAR)
Pepper futures may show some limited gains as profit booking from such high levels cannot be denied. However, any larger downside is not expected based on its strong fundamentals of good domestic demand & tight supply scenario. It is trading in a Consolidate pattern with having a resistance of 39150 and a support level of 37050. We suggest you to Buy pepper on lower levels.
NCDEX SOYBEAN (MAR)
Soybean futures may trade higher surpassing 2680 levels, supported by good export demand of oilmeals & higher quoting spot prices. It is trading in a consolidate manner with having a resistance of 2780 and a support level of 2630. The crushers were keen in buying at higher quotes ahead of Holi. We suggest you to Buy Soybean on lower levels.
NCDEX CHANA (MAR)
Chana futures may trade sideways with a weaker bias and remain below 3,800 levels tracking weakness in spot markets. Chana continued to drop on sluggish demand, even as arrival was poor at about 3,000 bags on Wednesday. Due to lower demand from millers, new kanta chana dropped to Rs 3,500-3,550 a quintal. It is trading in a Bullish pattern with having a resistance of 3695 and a support level of 3480. We suggest you to Buy chana on lower levels.
