Thursday, May 10, 2012

NCDEX Tips and Trend, Evening Updates For Today

NCDEX Pepper:
Pepper futures prices are projected to trade on slightly positive note during early trading on extended lower level buying. However, overall trend is expected to remain mixed on back of lack of active trade participation due to prevailing uncertainty in prices. Despite of tight supply situation across the domestic markets prices are remaining under pressure due to subdued demand at prevailing prices. NCDEX Pepper is trading in a down trend with having a resistance of 37540 and a support level of 36890. We suggest you to Sell pepper on higher Levels.

NCDEX Jeera:
Jeera futures prices are projected to continue the corrections on profit booking during early trading hours. However, underlined fundamentals are still bullish amid declining arrivals along with good buying interest among stockiest is which might cushion prices from huge losses. NCDEX Jeera is trading in a bull trend but in comming trading session it would be bearish. It has a strong resistance at 13649 and a crucial support at 13296. We suggest you to Sell jeera on higher Levels.

Chana futures fell on Wednesday as exchange authorities increased the deposit margins steeply, after prices surged more than 11 percent over six sessions in anticipation of a shortfall in output. This is in addition to a 15 percent margin that buyers currently have to deposit on long contracts. In the Delhi spot market, Chana rose 36 rupees to 4,260 rupees. Sideways to lower momentum may be seen for the day.

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