Thursday, May 3, 2012

NCDEX Evening Updates (Tips and Trend For Today)

NCDEX Pepper Tips
Pepper price may fall due to weak demand amid higher rates for the Indian variety than in other exporting countries. The supply of pepper into the physical market is expected to improve as NCDEX has reduced the expiry period of warehouse stocks of pepper to four months from 6 months. These changes will be applicable only on fresh deposits from today.

NCDEX Jeera Tips
Jeera futures are seen rising on strong export demand. Also, arrivals of jeera are declining as the season is drawing to a close, which will also take prices up. The arrivals in the major spot market declined to around 15000 bags from 20000 bags (1bag=55kg) on Monday. The spot price rose to near Rs.12500 per 100 kg. We advised that buy ncdex jeera above 12850, Target should be 13050 to 13250 and a stoploss at 12710

NCDEX Chana Tips
Bullish momentum continues for the day, we expect to see a rise in prices towards 4022 followed by 4060 levels. Now it has a strong resistance at 4043 and a criticle support at 3930. We advised that buy ncdex chana above 3990, Target should be 4030 to 4070 and a stoploss at 3960.

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