NCDEX Pepper Tips
Pepper futures prices are projected to continue the volatility with biased towards down side. According to trade sources, heavy speculative activities to take advantage of spread difference between June and July contract. However, spot activity is remaining steady in absence of proper supplies along with rising moisture content due to monsoon rains.
Pepper July futures prices traded on negative note to close at Rs 38915 levels. Stoploss triggered for the suggested sell. Support is at Rs 38760 levels and next support is at Rs 38290 levels. Resistance is at Rs 39290 levels and above this next resistance is at Rs 39730 levels.
NCDEX Jeera Tips
Jeera futures prices are projected to trade on lower note on back of subdued demand from local buyers across the major spot markets. However, reports of huge fall in Syria and Turkey’s jeera productions are also cushioning jeera prices at lower levels. However, stocks are still good which is reflecting daily arrivals which might weigh on sentiments.
Jeera July futures prices plunged by Rs 195, finally it closed at Rs 13040 levels. We mentioned in previous report about false breakout. To day prices corrected back to close on the lower side. Resistance is at Rs 13195 levels and next resistance is at Rs 13340 levels. Support is at Rs 12870 levels breach of this could correct to the next possible support of Rs 12698 levels.
NCDEX Chana Tips
Arrivals of chana crop stood declined to about 1-1.1lakh bags while spot rates were unchanged & offered in the range of Rs 43-44 per kg across major trading centers, as per trade reports. Chana futures prices traded on bearish note to close at Rs 4095 levels. Prices are making whipsaw movement. It has given a long upper shadow to signal correction ahead of the session. Resistance is at Rs 4134 and at Rs. 4192 with support at Rs.4089 and at Rs 4024.
