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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MCX Commodity Updates

Gold is down in the international market, while silver is gained. On Comex gold has come down to $ 1,749. The silver is on boom, Silver is currently trading with nearly 1/2% rise above $ 33. On Wednesday, Gold in the domestic market closed with a fall of 1/2% at Rs 28,160, while silver closed at Rs 56,736.
Crude Oil is down in the International Market, although the price are above $ 98. In the Domestic Market Crude Oil increased slightly and closed above Rs 4,800 on Wednesday.
On London Metal Exchange Copper traded flat. In the Domestic Market Copper closed with about 1% rise at Rs 424.

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