Tuesday, April 24, 2012

NCDEX Live (Tips and Trend) For Today: 23rd April '12

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New crop supplies pulled Chana futures lower on Monday, but the decline was limited as other pulses climbed due to an overall decline in output. In the Delhi spot market, Chana firmed 9 rupees to 3,587 rupees per 100 kg as demand picked up due to ongoing wedding season. Production of pulses in India is expected to fall 5.3 percent to 17.28 million tonnes in the current crop year ending in June, according to the farm ministry.

Pepper May ncdex: Break of 37800 with volume may see prices fall towards 37400 followed by 36700/36000 levels for the day. Moreover, leading indicator RSI is at 41 and turned lower, suggesting an immediate price correction. However, inability to break below the same may see prices turn sideways to lower.

Jeera futures fell due to profittaking after prices rose more than 4 percent since last week, while declining arrivals restricted the losses. Daily arrivals in Unjha, a key spot market in top producing western Gujarat state, fell to less than 20,000 bags of 60 kg each from around 35,000 bags during the same period last year.

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