NCDEX Pepper Tips
NCDEX Pepper July ended higher by 2.07% in its last trading session. Spot rates of pepper garbled increased to Rs. 393 per kg and that of un-garbled was up at Rs. 378 per kg. Arrivals increased to 10 tons while trades too were up at 9 tons at Kochi market. Pepper futures rose, supported by dwindling stocks and a squeeze in local supplies, with domestic output is expected to fall this year. Industry officials estimate 43,000-45,000 tonnes of local pepper output in 2012, compared with 49,000 tonnes last year.
NCDEX Chana Tips
NCDEX Chana July ended higher by 3.00%. Indian Chana futures recovered on Wednesday from a 3 percent fall in the previous session as traders covered short positions, with slack supplies aiding sentiment. In Delhi, spot Chana fell 40 rupees to 4,110 in absence of festive buying. Demand for Chana is expected to pick up from July or August ahead of festivals. Production of pulses in India is expected to fall by 5.3 percent to 17.28 million tonnes in the current crop year ending in June.
NCDEX Commodity Trend-
- NCDEX Chana July: A firm resistance zone is seen at 4200-4235 levels. Inability to break above these levels may see correction continue downward.
- NCDEX Soybean July: Inability to sustain above 3410 could result in a downfall towards 3330 region.
- NCDEX Chilli July: A recovery rally may be seen towards 4890 levels.
- NCDEX Jeera July: Although a major resistance is seen at 13300 levels, a breach of the same with volume may see upside towards 13450 levels.
- NCDEX RMSEED July: If prices are able to trade above 3800, then we see the upside momentum continuing towards 3850 levels.
- NCDEX KAPAS April 2013: A break of 975 may see an uptrend towards 1000 levels in the immediate run.
- NCDEX Dhaniya July: A short covering rally may be seen towards 3700 levels for the day.
- NCDEX Turmeric July: Even though sentiments look weak, a pullback rally may be expected towards 3700 levels.
NCDEX Intraday Tips:
- BUY PEPPER ON DIPS.
- SELL CARDAMOM ON PULLBACKS.
- SELL SUGAR ON PULLBACKS.
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