Tuesday, June 5, 2012

NCDEX Updates (Tips, Trend, Live Price) For Today

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NCDEX Pepper Tips

Pepper futures prices are projected to continue the recovery on extended short covering. Overall trend is remaining very volatile due to lack of proper directions. In domestic market prices were consolidating in the range of 38000-39300 levels for the last four days. A direct rise of 39850 with ample volume is required for the next bullish wave to kick start. It is trading in a Bullish pattern with having a resistance of 39868 and a support level of 38423. We suggest to buy NCDEX pepper June on low levels.

NCDEX Jeera Tips

Jeera futures prices are projected to resume down trend on poor buying interest among traders at spot front. Jeera futures are seen trading lower due to weakening export demand and likely rise in output from other major producing countries. According to traders' opinion, the export demand have declined as the buyers from overseas market limited their purchases as they are awaiting the Syrian crop to enter into the market. NCDEX Jeera is trading in a consolidate pattern with having a resistance of 12498 and a support level of 12163.

NCDEX Commodity Updates
  • NCDEX Soybean July- Sideways trading for the day.
  • NCDEX Chilli July- In case of consistent trades below 4780, we expect to see continuation of selling pressure towards 4400 levels.
  • NCDEX Jeera July- If prices break below 12700 levels, then a major fall is expected towards 12500 levels.
  • NCDEX RMSEED July- Prices have to break below 3660 for correcting lower towards 3600 region.
  • NCDEX KAPAS April 2013- If prices can sustain trading above 924 levels, a pullback rally may be seen towards 950 levels.
  • NCDEX Dhaniya July- Even though sentiments look weak, a mild short covering is expected towards 3570 before continuing the downtrend.

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