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NCDEX Pepper Tips
In ncdex pepper may a short covering rally is in progress, but it has to break 22 day EMA resistance placed at 39600 levels for bullishness to re-enter in the counter towards a target of 40300 followed by 41000 levels. Conversely, if unable to cut above 12 day EMA resistance of 39200, then prices could get dragged into negative territory. NCDEX Pepper is trading in bearish trend and it has a strong resistance at 38203 and a major support at 37098. We suggest that it is a good time to buy pepper for huge profit.
NCDEX Jeera Tips
Jeera futures are expected to trade up tracking the rise in spot prices. Expectation of rise in export demand is also likely to support the recovery in the jeera prices. According to a trade source, export demand has shifted to India due to a probable fall in jeera output in major producing countries such as Syria and Turkey. NCDEX Jeera is trading in a consolidate manner and it has a strong resistance at 12089 and a major support at 11611. We suggest that it is a good time to make a buy position in jeera for huge profit.
NCDEX Chana Tips
Chana futures extended losses for a second session on Tuesday. The commodities market regulator is investigating excessive speculation in futures trading in seven farm commodities, including chickpea, rapeseed and soybean, and the consumer affairs ministry is set to submit a report next week. NCDEX chana is trading in a consolidate manner and it has a strong resistance at 3633 and a major support at 3579. We suggest to sell ncdex chana at high levels.
