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NCDEX Chana Tips
Chana prices are expected to remain under downside pressure on fears of government intervention to curb rising prices which had gained more than 30% since the commencement of arrivals from mid January. A major trend line support is seen at 3685, any voluminous break below the same can expect a lower correction towards 3647 followed by 3610 levels for the day.
Trading Call: Sell NCDEX April Chana between 3740-3750, SL-3835, target 3600/3550.
NCDEX Pepper Tips
Pepper Apr ncdex: The day’s trend probably will be a positive mood, as long as prices are able to stay above 22 day EMA support of 40500 levels. But the major upside movement is possible only above 43500 which may test key resistances of 44000 and 44800 levels. Conversely, major weakness may see only below 40000 levels for the day
Trading Call: Sell NCDEX April Pepper between 42500-43000, SL-45150, Target 39000/38000.
NCDEX Jeera Tips
Jeera April futures prices are expected to continue the down trend on back of prevailing bearish fundamentals across the spot market. Poor domestic demand along with rising arrivals at spot markets are keeping bulk buyers away from market and thus pressurising the prices to trade down. We expect continuation of prevailing weakness as long as prices stay below 12350 levels. Supports: 11850/1150.
Trading Call: Sell NCDEX April Jeera between 12000-12100, SL-12835, Target 11000/10500.
