Friday, May 18, 2012

NCDEX TIPS ~ Chana, Kapas, Mentha Oil, Soybean, Agri tips

CHANA TREND :- Chana in its hourly chart is trading in triangular formation, if it break 4200 level with volume it can test 4050 in coming session while if it hold 4200 level we can expect chana to bounce back from this level to 4295/4335 level while upside break is above 4350 level.

NCDEX JEERA TREND :- Jeera futures prices are projected to recover from earlier losses supported by prevailing firm trend on good demand from local traders and exporters. Arrivals season is also coming to an end therefore; arrivals might also start declining in coming days which might support the prices in medium term. Arrivals at spot market of Unjha were steady at 25,000 bags against 18,000 bags reported on Wednesday (1 bag- 60Kg.)

PEPPER TREND :- Pepper futures prices are projected to witness volatile movement du to lack of active trade participation. Buyers and sellers both are not interested in delivery through exchange due to newly introduced procedures. Some of the small growers are selling their produce at lower prices in want of money which might also weigh n prices. Indian parity in the international market was at $7,125 Per MT (c&f) Europe and $7,425 Per MT (c&f) USA. Demand in north Indian states is there but prevailing uncertainty about the prices trend is keeping sentiments week.

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