NCDEX INTRADAY TREND TODAY :-
On the National Commodity and Derivatives Exchange, coriander, chilli, jeera, castor seed and chana futures hit lower circuit because of panic selling in the last hour of trade on talks of cash margin being levied on soyoil futures.
Mustard seed futures also fell in tandem with soyoil. However, soybean contracts remained in the positive due to firm trend in benchmark prices on the Chicago Board of Trade and due to low domestic inventories.
Crude palm oil pared early gains on profit booking but closed higher tracking rise in prices on Bursa Malaysia Derivatives. Among spices, turmeric futures ended up 1% as demand of minimum support price by Tamil Nadu farmers supported prices.
Pepper also ended up on short covering due to tight domestic supply. However, chilli ended down 4% on high arrivals and weak export enquiries. Jeera and coriander hit lower circuits on long liquidation, as high stock of spices will expire at NCDEX warehouses, which is likely to put pressure of delivery in September.
NCDEX TRADING TIPS FOR TODAY :-
1. SELL CHANA ON PULLBACKS
2. SELL KAPAS BELOW 1090
3. SELL CHILLI ON PULLBACKS
