Wednesday, May 2, 2012

NCDEX Updates (Tips and Trend) For Today: 2nd May '12

NCDEX Jeera Tips
Jeera sowing season in India starts on October to November and gets harvested on February to April, as the harvesting period is about to end, jeera arrivals are going to drop in the market and prices could shoot up. Further, we expect exports demand to go up as the subdued prices will attract export demand. From the mentioned factors we expect prices to shoot up in the coming months and test levels of 14000-14500.

NCDEX Chana Tips
Commodity market affected by total arrivals of chana crop stood steady 1.9-2 lakh bags while spot rates traded firmly & were quoted around Rs. 36.5-37.5 per kg. It is looking positive. As long as 3740 hold the downside expect a rise towards 3900 followed by 3940/4200 levels. It has a strong reisitance at 3,889 and a support at 3804. We suggest to buy NCDEX Chana around 3825 for the targets of 3860-3900, Stoploss of 3798.

NCDEX Pepper Tips
Pepper futures prices are projected to witness a small recovery on short covering during early treading hours. However, later on prices might turn down on back of bearish spot market sentiments. According to trade sources, big market players are trying to keep prices under pressure as they are expecting export demand to emerge at lower levels with fall in Indian prices. It is expected that ncdex pepper will trade between 36599 to 36860 levels. Although it has a strong resistance of 37646 and a strong support at 36358.

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