NCDEX Chana Tips
Chana futures rose on Wednesday after falling for three successive sessions tracking a firm trend in the physical market, where low-level buying by wholesale traders pushed up prices. Arrivals of chana crop declined to about 1 lakh bags while spot rates traded steadily & were offered in the range of Rs. 43-44 per kg across major trading centers, as per trade reports. Chana is looking negative at the moment. Technical report suggest a strong support at 4050 and a critical resistance at 4150. We suggest a sell in NCDEX Chana June below 4120, Target: 4080-4040, Stoploss would be above 4140.
NCDEX Pepper Tips
Even though prices cleared the resistance of 40500 the much anticipated rally towards 41000 region has not triggered yet. While the general trend continues to be positive, a lower correction cannot be ruled out towards 39800. On the higher side, it is required to clear above 41500 to set off prolonged short covering rallies. Conversely, any trade below 37900 would dent the near term bullish view. NCDEX Pepper is looking positive at the moment. Technical report suggest a critical support at 40082 and a strong resistance at 40818. We suggest a fresh buy in NCDEX Pepper June above 40200, Target: 40600-41000, Stoploss would be above 40200.
Intraday Pics For Today
- SELL DHANIYA BELOW 3520
- SELL MAIZE ON PULLBACKS
- BUY JEERA ABOVE 1330
Agri Commodity Trend For Today
- NCDEX Chana July: In case of consistent trades below 4190, we expect continuation of selling pressure towards 4040 levels.
- NCDEX Soybean July: A break of 3430 is required for the next level bullish rally to start towards 3500 levels.
- NCDEX Chilli July: Even though general sentiments remain positive, inability to sustain above 5310 then a mild lower correction is expected towards 5080 levels.
- NCDEX Jeera July: Short covering rally is in progress towards 13250 levels. If prices were able to overcome the major obstacle of 13300 levels, the rally could extend towards 13500 levels in the immediate run.
- NCDEX Rmseed July: Inability to trade above 13 day EMA obstacle at 3772 levels then downside correction is anticipated for the day.
- NCDEX Kapas April: Sideways to lower for the day.
- NCDEX Wheat July: If prices break below the support of 1162 region with sufficient volume then we expect to see a sharp correction towards 1140 levels.
- NCDEX Maize July: A break of 1132 is required for a next turn in fall of prices towards 1115 levels for the day.
- NCDEX Turmeric July: Inability to sustain above 3756, we expect to see prices to drag lower towards 3600 followed by 3500 levels in the near term.
- MCX CPO June: A break of 543 levels is required for the next round of selling pressure to kick off.
- MCX Menthaoil June: If prices are able to prop up above 45 day EMA support of 1389 then an upsurge of prices could be seen towards 1460 region.
- MCX Cardamom July: A short covering rally is anticipated towards 1250 levels.
