Posted by : Niti Mathur

Chana resolved way up by simply 0. 44% with 3627 upon quick covering immediately after stress noticed motivated by simply soaring provides from your year plant. Throughout 2014-15, your Output associated with pulses projected with 20. 43 million tonnes is gloomier by simply some. 36% through twenty. 5 million tonnes manufactured in 2013-14. Indian probably will collect 16% decrease chana in 2014-15 through a year ago upon decrease grown region (down 16% Y-O-Y). Meanwhile, your fall in tur production as a result of unreliable rainwater circumstances throughout the monsoon season-2014.
Chana is getting support at 3590 and below same could see a test of 3553 level, and resistance is now likely to be seen at 3653, a move above could see prices testing 3679.

MCX Natural Gas Trend: 24th March
Natural gas NYMEX April contract traded in a volatile manner wherein the commodity traded lower for most part of the day however, saw cut in its losses in latter half, probably on back of immediate winter related demand NG active expiry 2% lower to $2.733 per MMBTU whereas at one point of time it was further down to $2.691 per MMBTU

MCX Natural Gas Outlook:
As per markets updates over US weather, near term expectations continue to stay for cooler temperatures in the Eastern and Central half of the country. However as we look at the 2 weeks view over US weather, weather updates are calling for change in cooler temperatures to warmer to normalized temperatures as we move into April month. While intraday position in the commodity is seen ranged, positional traders can look down to sell the commodity on pullbacks as the commodity is likely to take negative view over weather and rising supplies in near term. 

NCDEX Live Tips


NCDEX Jeera Tips: Jeera prices slipped lower from the high of 14610 and later closed the day at 14325 levels. It is necessary to breach the horizontal trend line support of 14200 levels to continue current selling pressure towards 14030 followed by 13800 regions. Moreover, daily RSI (14) is gradually turning lower, expecting a slim fall. Conversely, failure to break could see short covering rallies and only a consistent trades above 15500 could negate the intermediate weakness. Hence, recommend to sell below 14200 levels for the day.

NCDEX Chana Tips: Chana on NCDEX is looking sluggish for today, As long as 45 day EMA caps upside at 3645, expect to see downside moves towards 3600/3580 levels.

NCDEX Turmeric Live: As long as prices trading well below the 45 day EMA resistance at 8215, bearish moves could see towards 7810 followed by 7720/7530 levels in the near term

Popular Post

Powered by Blogger.