Commodity NCDEX Review

Commodity NCDEX Trend

Guar prices closed above its 10-Day EMA and its 20-Day
EMA indicating bullish trend.
• 14-days RSI is at 53.2 and is in neutral region.
• MACD is in the negative territory.
In the intraday Guar prices are expected to trade on a positive note due to fresh orders from the overseas and domestic buyers. However in the short term (1-2 week), prices may be determined by the arrivals in the domestic market. In the medium term trend would depend on the pace of arrivals, the demand from the overseas markets and the movement of Indian Rupee against US dollar.

Chana prices on daily charts closed above its 10-days and
its 20-days EMA, indicating bullish market sentiments.
• 14-days RSI is at 52 and is in neutral region.
• MACD is in the negative territory.
In the intraday prices may trade with positive bias due to demand from the local stockists. In the short to medium term (one month), Price gains may be capped due to rising arrivals of Kharif pulses. Long term trend in Chana futures may depend on the reports sowing of Rabi Pulses which is presently expected to be higher due to increase in MSP of Pulse. Also, weather during the crop development period may be crucial for the deciding the further trend of Chana futures.

Prices closed above its 10-Day’s and its 20-Day’s EMA
indicating bullish trend.
• 14-Day RSI is at 74.3 and is in overbought zone.
• Difference between near month and far month is expected
to reduce.
Turmeric prices in the intraday are expected to trade firm due to lower arrivals amidst better offtakes. Prices in short term (till December), will depend on demand from the domestic and overseas buyers and growth of sown crop. In medium to long term (January onwards), prices is likely to take cues from the turmeric stocks and production estimates reported by the spot market participants.

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