NCDEX Chana
During the week Chana prices have dived to as low as 4030 by erasing its previous gains. The long termtrend has not yet changed and this short-term downfall can be considered as an opportunity for the long term traders to buy on lower levels. Weekly RSI (14) & MACD both are placed in positive zone buy supporting our view. For today, in Chana one should go for buy on lower level strategy. If it sustains below the level of 4109 we can see the level of 4061 and on the upside if it touch the level of 4245 we can see Chana at 4285.
NCDEX Pepper
Pepper prices are expected to trade bearish on account of fragile demand the overseas buyers and imports of cheaper Pepper from Vietn from am into India. Any reports with respect to fresh arrivals of Pepper from Malaysia is also ikely to pressurize prices. Fresh arrivals from Malaysia will commence shortly.
Spot rates of pepper garbled declined to Rs. 377 per kg and that of un-garbled was down at Rs. 362 per kg. We suggest to Sell NCDEX June Pepper between 38150-38200, SL-38980, Target 36850/36300.
