NCDEX Tips For Jeera and Chana Today: 12th May 2015

NCDEX Jeera Tips:

Jeera June prices traded sideways and finally closed the day at 17865. Prices are currently consolidating with in the flag pattern and either side breakouts would be required to suggests a fresh directional moves. Hence, a break above 18400 could see bullish rallies towards 18800 levels. Likewise, on the lower side, break off below the support of 17550 could see a direct fall. Meanwhile, the daily RSI (14) is treading with negative strength for the day. Hence, we recommend to wait and watch approach until it discover the way out. 

NCDEX Chana Tips:

Chana June prices witnessed liquidating pressure from the high of 4700 and closed at 4648. Inability to overcome the obstacle of 4700 could profit booking towards 4618/4570 levels. Moreover, daily RSI (14) is in overbought situation, expecting a mild profit booking in the immediate run. Conversely, direct rise above 4700 could see sharp rallies towards 4750/4780 levels. Anyway, we recommend to continue cautious approach while taking fresh buy positions.

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NCDEX Chana and Jeera Tips with NCDEX Trend Today: 30th March

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NCDEX Chana Trend

NCDEX Chana Apr. Futures shut higher on Friday by 0.11% as Agri commodity sector members purchase at lower levels on expanding spot request against limited supplies in the spot market from new season crop. Late unseasonal rains in developing regions may have influenced the generation and gathering of harvest. According to second Advance Estimates for 2014-15, Chana creation assessed at 8.28 million tons contrasted with 9.53 million tons a year ago. According to the Govt information, Chana has sown more than 85.91 lakh hectares, which is 16 % less as on Feb 13, 2015 when contrasted with a year ago's 102.25 lakh hectares. While, range scope under aggregate Pulses is at 145.92 lakh hectares while the most recent year's sowing region scope was 162.21 lakh hectares.

Chana futures anticipated that would exchange on blended note as entry of new yield in Mandis anticipated that would get gradually in impending days. General suppositions search positive for Chana in long haul in the midst of expected lower yield and obligation free imports permitted till Mar 2015.

NCDEX Jeera Trend

Jeera Apr. Futures shut higher 0.03 % on concern over generation because of troublesome precipitation. The dealers and stockiest were effectively purchasing on inquiries for the fares. There are reports of yield harm of the new season edit because of unseasonal rains in Gujarat and Rajasthan. Generation and Exports According to Gujarat government information discharged on nineteenth Jan 15, Jeera recorded 2.64 lakh hectares, 42% less sowing contrasted with a year ago's 4.54 lakh hectares. The supplies of Jeera anticipated that would ascend in the following month because of entry of new season crop. Fare requests are redirected to India because of Geo-political strains in Syria and Turkey. .Jeera (cumin) fares have been 87,500 tons in the initial six months (Apr-Sep) of 2014-15, an ascent of 25% from the relating time of the past.

Jeera prospects may exchange on blended to positive note, as there is great interest for fares. The retailers and stockiest are likewise purchasing at current business sector costs on reckoning of lesser entries in nearing month on expectation of lower creation. Then again, entry weight and benefit booking may top the value rise.

NCDEX Tips Today

NCDEX Tips For Today: Sell NCDEX Jeera Apr between 14580-14610 levels with Stop loss at 14720 for the Target Range of 14300/14250

NCDEX Kapas Tips: NCDEX Kapas Apr buy above 805 for the target of 835-850 in 1-2 days with Stop loss at 790.

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