Friday, May 25, 2012

NCDEX Tips and Agri Commodity Trend For Today

NCDEX Chana Tips
NCDEX Chana June, futures prices initially moved to the high of Rs 4214 level but later on it corrected back to settle at Rs 4154 level. Prices are trading along the negative channel to signal continuation of downward trend. Resistance is seen at Rs 4204 levels breach of this level then it can test Rs 4254 levels. Support is at Rs 4,095 breach of this level, then it could correct to Rs 4036. A break of 4135 may see a price correction towards 4060 levels. We suggest to sell NCDEX Chana below 4135.

NCDEX Pepper Tips
NCDEX Pepper futures looking consolidate. A break of 38000 levels with sufficient volume may see prices correcting lower towards 37000 for the day. Moreover, prices are trading well below the 13, 22, 45 day EMA resistances suggesting weakness in the near term. On the other hand, any trading above 39800 may turn prices into the bull camp again. NCDEX pepper has a strong supprt at 37060 and a resistance near 39000 levels.

NCDEX Jeera Tips
NCDEX Jeera futures looking up at the moment and may trade higher amid fall in arrivals in spot markets. Jeera futures prices are projected to continue the recovery on lower level buying. Continuous decline in arrivals at spot market of Unjha as arrival season is coming to end might support prices to move up. However, slow down in buying activity from local buyer might limit the gains during the day.


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