NCDEX Pepper Tips
Pepper contracts traded higher due to tight supply situation in the market. Breaking of 40500 with robust volume may lift prices higher towards 41000 initially followed by 41400 levels. It is required to overstep 41500 to witness skyrocket prices of 42000 or even 43200 levels in the near term. On the other side, if unable to do so, then we may see prices trade sideways to lower for the day. However, the current bullish momentum may be dented only if trading occurs below below 37900 levels.
NCDEX Jeera Tips
Jeera prices are projected to trade on slightly positive note on cues from emergence of lower level buying from stockiest at spot front. Arrivals of jeera crop declined to about 10,000 bags while trades too were down at 9,000-9,500 bags at auctions held at Unjha market. Reports of declined production estimates for Syria and Turkey’s might also cushion jeera prices. However, overall trend is remaining very sluggish at spot market of Unjha as arrival at still higher a compared to usual which might weigh on sentiments.
Intraday Pics For Today
BUY NCDEX PEPPER ABOVE 40500.
SELL NCDEX MAIZE ON PULLBACKS.
NCDEX Commodity Trend For Today:
- NCDEX Chana July: If trading is consistent below 4190 levels then we expect continuation of selling pressure towards 4040 levels.
- NCDEX Soybean July: Inability to sustain above 3410 could result in a downfall towards 3275 region.
- NCDEX Chilli July: If trading is consistent above 5100 then we expect prices to trade higher towards 5300 followed by 5500 levels in the immediate run.
- NCDEX Jeera July: Short covering rally is on progress towards 13250 levels.
- 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 2013: If prices consistently trade above 975 levels, then we expect to see rise in prices towards 1000 levels in the near term.
- NCDEX Dhaniya July: If prices break off below 3500 then a downside correction is expected in the immediate run.
- NCDEX Turmeric July: Inability to sustain above 3756 we may see prices to drag lower towards 3600 followed by 3500 levels
- MCX MENTHAOIL June: Prices hold the support of 1340 levels. Consistent trade above the same would result in upsurge in prices towards 1400 followed by 1425 levels.
- NCDEX Maize July: In case of reliable trades below 1160 levels, we expect to see downside correction towards 1100 levels for the day.
