12/15/2010 06:30:00 PM
Your Advisor
NCDEX Commodity Updates
Guar prices closed near its 10-Day EMA and its 20-Day EMA indicating a sideways trend.
• 14-days RSI is at 52.53 and is in neutral region.
• MACD is in the negative territory.
In the short term (1-2 week), Prices are expected to remain under pressure due to arrival pressure of fresh crop. 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 below its 10-days and
its 20-days EMA, indicating bearish market sentiments.
• 14-days RSI is at 49.92 and is in neutral region.
• MACD has moved into the negative territory.
Lacklustre trades at the domestic market and reports of improved acreage towards Chana are pressurizing the prices. In the intraday prices may continue to trade bearish tracking the above fundamentals. 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 49.7 and is in neutral region.
• MACD is however, in the negative territory.
Pepper prices in the intraday are expected to trade sideways to up due to demand from the domestic buyers. In the short term (till December), Pepper prices will depend on global Black pepper availability and demand from the overseas and domestic market. In the medium to long term (January onwards), price trend will depend on demand from the overseas and domestic market, pepper stocks with major producers and Black pepper production estimates of in India and Vietnam of 2011.
Prices closed above its 10-Day’s and its 20-Day’s EMA indicating bullish trend.
• 14-Day RSI is at 64.4 and is in neutral zone.
• Difference between near month and far month is expected
to reduce.
Turmeric prices in the intraday are expected to trade sideways to up due to improved buying at lower levels. Prices in short term (till mid of December), will depend on demand from the domestic and overseas buyers and growth of sown crop. In the long to medium term (December end onwards), prices is likely to take cues from the turmeric stocks and production estimates reported by the spot market participants.
All Commodity Tips, MCX Tips, NCDEX Tips, Commodity market updates you can get from here.
Click here To get Commodity Tips
