12/24/2010 07:06:00 PM
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NCDEX Commodity Trend
Guar prices closed below its 10-Day EMA and its 20-Day
EMA indicating bearish trend.
• 14-days RSI is at 47.8 and is in neutral region.
• MACD is in the negative territory.
In the intraday Guar prices are expected to trade bearish due to improved arrivals and weak demand for guar and its products. 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 52.7 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 below its 10-Day and its 20-Day EMA indicating
bearish trend.
• The 14-Day RSI is at 42.7 and is in neutral zone.
• MACD is in the negative territory.
Jeera prices in the intraday will trade bearish due selling by the market participants. In the short term (till December), trend will depend on jeera price parity of various origins in international market and stocks of jeera with local stockists. In the medium to long term (January onwards) prices are likely to take cues from sowing progress in India and demand from the overseas and domestic buyers.
Prices closed above its 10 day and above its 20 day EMA,
which indicates bullish market sentiments.
• 14-Day RSI is at 59.84, which neutral zone.
• However, daily MACD is in negative territory.
In the Intraday, Soy oil prices are expected to trade slightly higher on firm overseas market as tight supply concern
and improved demand in physical market ahead of winter/marriage season demand. For long term, price are
expected to move northwards as global shortage of vegetable oil couple with strong demand of edible oils in coming
days.
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