Monday, July 9, 2012

NCDEX Tips For Today

Weekly NCDEX Tips For Today
NCDEX Chana has a bullish trend for today's trading having a strong resistance at 4600. For the day, we expect to see pullbacks rally towards 4600 followed  by 4650 levels. Chana prices are expected to remain bullish in the short term on the back Supply tightness of this Pulse crop coupled with weakening Indian rupee that is making imports costlier. Further if monsoon continue to remain below normal, then it may hamper Kharif pulses and would keep the sentiments upbeat. We suggest to Buy NCDEX Chana August above 4550 levels with a target price of 4800 and a stoploss at 4400 in 10-15 days.

Intraday NCDEX Tips For Today
  • In NCDEX Wheat even though positive momentum prevails, an initial profit booking may be seen, We suggest a buy in NCDEX wheat on Dips.
  • NCDEX Pepper is also looking bullish at the moment. It has a strong resistance at 42722. We suggest Buy NCDEX pepper on Dips.
  • NCDEX Jeera prices already touched most expected level of 14900 on Saturday. For the day, we expect to see a profit booking at higher levels.


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