Tuesday, May 8, 2012

NCDEX Live Tips and Trend For Today: 8th May

NCDEX Pepper Prices are consolidating and forming a descending triangle pattern for the last six weeks. Therefore, we expect to see a breaking 36700 levels and pull down prices towards 36100 followed by 35000 levels. On the higher side, it has to break above 38600 for starting a new bullish wave. Pepper prices breached a tad below the Rs 36950 support level but bounced back above Rs 37050 as global prices improved.

Jeera futures prices are projected to extend the bullish trend on cues from prevailing bullish fundamentals. Strong demand from exporters is likely to support prices to move up. Reports of declined production estimates for Syria and Turkey due to poor sowing progress might also support Indian jeera prices to move up in near term. Any break off 13520 would see a major rally towards 13630 followed by 13800 levels.

Chana futures is looking bullish at the moment, having a strong resistance at 4275 with a criticle support at 4115. Today chana can cross the bullish momentum may be seen towards 4225 followed by 4260 levels.

Free NCDEX Commodity Tips For Today:

Buy NCDEX Chilli June abovr 4950, Targets: 5020-5080, Stoploss: 4915.
Buy NCDEX Jeera May above 13520, Target: 13680-13850, Stoploss: 13390.
Buy NCDEX Turmeric May above 3650, Target: 3700-3760, Stoploss: 3625.
Buy NCDEX Cardamom May above 1215, Target: 1240-1270, Stoploss: 1195.
Sell NCDEX Soya bean May around 3575-3580, Target: 3540-3500, Stoploss: 3595.

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