Monday, April 2, 2012

NCDEX Live Tips and Trend For Today: 3rd April '12

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NCDEX Jeera Tips
NCDEX Jeera prices seem to have taken a pause around Rs11,780-11,750 last week and are attempting to recover from prior sharp losses. Rs12,350 acts as an initial resistance followed by Rs12,650. Historical trends suggest that prices could turn lower towards Rs11,200 upon exhaustion of short term recovery.
Jeera futures ended marginally higher by 0.17 percent as export demand outweighed rising arrivals from the new crop.
We suggest to Sell NCDEX Jeera Apr below 12130, Target: 11700-11200, Stoploss: 12300.

NCDEX Pepper Tips
NCDEX Pepper Apr: After a major sell off witnessed in the last week, prices rebounded from the support of 38020 levels. For the day, we expect to see a short covering rally till 40400 before recommencing the liquidation towards 38900/ 38020 levels. On the other side, if prices break the earlier downside support the weakness may continue towards 37660 followed by 37200 levels.
We suggest to Sell NCDEX Pepper Apr Below 38850, Target: 38500-38100, Stoploss: 39100.

NCDEX Chana Tips
NCDEX Chana in its daily chart had test crucial support near 3400 level at 3440 & bounce from that level on last trading session& close at 3533. It seems that chana may consolidate in 3400-3750 range for this week as 3400 may act as strong support while 3730 can act as resistance for the week. A firm support is seen at 3460, hold above the same may see short covering rally to continue towards 3560 followed by 3610 levels in the near term.
We suggest to Sell NCDEX Chana Apr Below 3500, Target: 3450-3400, Stoploss: 3540.

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