Monday, July 2, 2012

NCDEX Tips and Trend For Today

NCDEX Trend For Today
Pepper prices are projected to continue the down trend on long liquidation during early trading hours. However, later on prices might recover on fresh buying at lower levels as overall fundamentals are also bullish. Turmeric prices are expected to continue the recovery during opening hours on back of improving spot turmeric prices. Jeera prices are projected to trade on positive note on lower levels buying on reports of fall in production of turkey and Syria by 30-35%. Arrivals of chana crop across major trading centers increased to about 80,000 bags while spot rates closed higher & were quoted in the range of Rs.46-46.5 per kg, as per trade reports.

NCDEX Tips For Today
  • NCDEX Chana July: A bounce back rally can be seen towards 4400 levels in the near term.
  • NCDEX Soybean July: Even though prices are still positive, Inability to sustain above 4000 levels may lead to mild profit booking for the day.
  • NCDEX Chilli July: Inability to sustain above 5050 levels, then a mild lower correction is expected towards 4750 levels in the immediate run.
  • NCDEX Jeera July: Any break of 13080 would see a major fall towards 12980 followed by 13000 levels.
  • NCDEX Dhaniya July: Sideways to lower correction in the near term.
  • NCDEX Rmseed July: Sideways price action for the day.
  • NCDEX Kapas April: A 22 day EMA support is seen at 992 levels; holds above the same may see a pullback rally towards 1030 levels.
  • NCDEX Wheat July: Consistent trades above 1175 levels may see a bounce back towards 1200 levels for the day.
  • NCDEX Turmeric July: A pullback rally may be seen if prices are able to hold the support of 4000 levels for the day.
  • NCDEX Refined Soy oil July: A break of 760 levels with consistent volume could see a lower price correction towards 754 followed by 750 levels