NCDEX Steel Oct Buy at 24800 TP 25150 SL 24570
NCDEX Guar seed Nov Buy at 1680-84 TP 1708 SL 1660
NCDEX Soybean Nov Buy at 1645 TP 1670 SL 1625
NCDEX RM Seed NovBuy at 595-97 TP 607 SL 588
NCDEX Pepper Nov Sell at 13000 TP 12650 SL 13200
NCDEX Turmeric Oct Sell at 3585-90 TP 3525 SL 3620
NCDEX Jeera NovBuy at 10260 TP 10400 SL 10125
*NOTE: The calls shown above are purely INTRA-DAY and should NOT be carried forward.
Spices
Pepper: Pepper futures displayed mixed trend in yesterdays trading session. Initially prices went up sharply
following mounting buying interest supported by strong fundamental factors and later took correction following
long liquidation. The active November contract NCDEX Pepper futures traded in the range of 12814‐13175 levels.
Jeera: Jeera futures recovered sharply due to huge short covering supported by declining stocks at exchange
warehouses. The active contract November NCDEX recovered towards Rs10370 and closed at Rs10273 levels.
although, spot prices remained steady to weak, traders preferred to cover their short positions in near month
contract as stocks at exchange warehouses fell to lowest in the season.
Turmeric: From last two consecutive sessions, turmeric futures prices trading in negative tone on tracking the
weakening spot market sentiment and spot prices. In Nizamabad, spot prices fell by Rs 118 to 3800 levels per
quintal on increased selling pressure and lack of demand. In futures, December contract prices traded lower side
and tested a contract low at 3481 levels before closing at 3491 levels down by 2.92%.
Chilli: In previous trading session chilli futures prices traded on positive note on increased fresh buying at lower
levels. In addition to that, increased spot prices also provided strength to the futures prices to trade on higher side.
In actively traded December, contract prices posted an intraday high at 5564 levels before closing at 5514 levels up
by 2.26% against previous day closing
Coriander: Coriander futures fell sharply on profit taking from previous rally. The October MCX contract opened
steady at Rs8080 and fell towards Rs7900 and finally closed just below Rs8000 levels. Traders booked some profits
after three consecutive days rally even as spot prices remained firm.
NCDEX Sugar November
The November contract sugar prices were seen trading sideways as after making a high of 1740 it closed at 1733 levels. Market is expected to remain sideways and the immediate resistances can be seen at 1763 levels. If market fails to breach 1740 we may expect sugar trading lower and the supports can be seen at 1722 and then 1708 levels. Stay short below 1740 for the day.
NCDEX Soybean November
Soybean futures recovered in yesterdays trade as the indicators were in oversold conditions. Prices opened almost flat and started to move higher from the very beginning, though at a more moderate pace. Markets are expected to continue the correction higher in todays trade also finding resistance at 1680 and 1717 levels. Support is at 1635 and 1605 levels.
NCDEX RM Seed November
Mustard seed futures continue to show the bullish strength, which helped prices settle higher in yesterdays trade also. Prices opened on a positive note and continued the momentum, moving past the resistance at 600 levels. Given the bullishness in the market we expect prices to continue the move higher in todays trade also. A close above 620 levels can induce fresh lease of bullishness in the market.
NCDEX Guar seed Nov
Guarseed futures settled marginally higher in yesterdays trade after trading lower for most part of the trading session. The marginal gains showcase the indecisiveness in the market that has been haunting the market for more than a month now. We expect prices to trade slightly higher in todays trade, though this may not indicate any change in trend. Only a close beyond 1750 or 1650 levels can confirm the trend.
NCDEX Pepper - November
Pepper prices settled marginally higher on Monday gaining Rs67 over previous days close. Markets opened slightly on a positive note and trade mostly higher for the earlier part of the trading session. However, markets witnessed selling pressure near the resistance levels around 13200 levels and as such tumbled lower erasing the gains. Eventually markets were able to recover from day lows and settle marginally higher. In the light of yesterdays close prices can trade slightly lower in todays trade.
Jeera
Prices are expected to trade marginally higher due to declined stocks at exchange warehouses, but fresh selling may emerge at higher levels due to low spot market demand.
The spot prices are quoting steady at Rs11000 per quintal at Unjha spot market with arrival of 2000 bags
Stocks at NCDEX warehouses fell to season's lowest of 667 tonnes
Huge short covering is seen in near month contract as traders covered short positions with low stocks
Meanwhile, demand remains low in spot markets due to low retail buying from retail segment
Sowing of rabi crop has already started in some places of Gujarat, but it gains momentum towards end of this month
According to preliminary estimates, sowing would be better in this season and output may cross 30 lakh bags against last year output of 26-27 lakh bags
NCDEX Guar seed Nov Buy at 1680-84 TP 1708 SL 1660
NCDEX Soybean Nov Buy at 1645 TP 1670 SL 1625
NCDEX RM Seed NovBuy at 595-97 TP 607 SL 588
NCDEX Pepper Nov Sell at 13000 TP 12650 SL 13200
NCDEX Turmeric Oct Sell at 3585-90 TP 3525 SL 3620
NCDEX Jeera NovBuy at 10260 TP 10400 SL 10125
*NOTE: The calls shown above are purely INTRA-DAY and should NOT be carried forward.
Spices
Pepper: Pepper futures displayed mixed trend in yesterdays trading session. Initially prices went up sharply
following mounting buying interest supported by strong fundamental factors and later took correction following
long liquidation. The active November contract NCDEX Pepper futures traded in the range of 12814‐13175 levels.
Jeera: Jeera futures recovered sharply due to huge short covering supported by declining stocks at exchange
warehouses. The active contract November NCDEX recovered towards Rs10370 and closed at Rs10273 levels.
although, spot prices remained steady to weak, traders preferred to cover their short positions in near month
contract as stocks at exchange warehouses fell to lowest in the season.
Turmeric: From last two consecutive sessions, turmeric futures prices trading in negative tone on tracking the
weakening spot market sentiment and spot prices. In Nizamabad, spot prices fell by Rs 118 to 3800 levels per
quintal on increased selling pressure and lack of demand. In futures, December contract prices traded lower side
and tested a contract low at 3481 levels before closing at 3491 levels down by 2.92%.
Chilli: In previous trading session chilli futures prices traded on positive note on increased fresh buying at lower
levels. In addition to that, increased spot prices also provided strength to the futures prices to trade on higher side.
In actively traded December, contract prices posted an intraday high at 5564 levels before closing at 5514 levels up
by 2.26% against previous day closing
Coriander: Coriander futures fell sharply on profit taking from previous rally. The October MCX contract opened
steady at Rs8080 and fell towards Rs7900 and finally closed just below Rs8000 levels. Traders booked some profits
after three consecutive days rally even as spot prices remained firm.
NCDEX Sugar November
The November contract sugar prices were seen trading sideways as after making a high of 1740 it closed at 1733 levels. Market is expected to remain sideways and the immediate resistances can be seen at 1763 levels. If market fails to breach 1740 we may expect sugar trading lower and the supports can be seen at 1722 and then 1708 levels. Stay short below 1740 for the day.
NCDEX Soybean November
Soybean futures recovered in yesterdays trade as the indicators were in oversold conditions. Prices opened almost flat and started to move higher from the very beginning, though at a more moderate pace. Markets are expected to continue the correction higher in todays trade also finding resistance at 1680 and 1717 levels. Support is at 1635 and 1605 levels.
NCDEX RM Seed November
Mustard seed futures continue to show the bullish strength, which helped prices settle higher in yesterdays trade also. Prices opened on a positive note and continued the momentum, moving past the resistance at 600 levels. Given the bullishness in the market we expect prices to continue the move higher in todays trade also. A close above 620 levels can induce fresh lease of bullishness in the market.
NCDEX Guar seed Nov
Guarseed futures settled marginally higher in yesterdays trade after trading lower for most part of the trading session. The marginal gains showcase the indecisiveness in the market that has been haunting the market for more than a month now. We expect prices to trade slightly higher in todays trade, though this may not indicate any change in trend. Only a close beyond 1750 or 1650 levels can confirm the trend.
NCDEX Pepper - November
Pepper prices settled marginally higher on Monday gaining Rs67 over previous days close. Markets opened slightly on a positive note and trade mostly higher for the earlier part of the trading session. However, markets witnessed selling pressure near the resistance levels around 13200 levels and as such tumbled lower erasing the gains. Eventually markets were able to recover from day lows and settle marginally higher. In the light of yesterdays close prices can trade slightly lower in todays trade.
Jeera
Prices are expected to trade marginally higher due to declined stocks at exchange warehouses, but fresh selling may emerge at higher levels due to low spot market demand.
The spot prices are quoting steady at Rs11000 per quintal at Unjha spot market with arrival of 2000 bags
Stocks at NCDEX warehouses fell to season's lowest of 667 tonnes
Huge short covering is seen in near month contract as traders covered short positions with low stocks
Meanwhile, demand remains low in spot markets due to low retail buying from retail segment
Sowing of rabi crop has already started in some places of Gujarat, but it gains momentum towards end of this month
According to preliminary estimates, sowing would be better in this season and output may cross 30 lakh bags against last year output of 26-27 lakh bags