calls 1.10.08
Calls & Repots:
NCDEX Sugar November
The November contract sugar prices traded higher in the last trading session and after making a high of 1838 it settled at 1836 levels. The immediate resistances can be seen at 1844 and then 1860 levels. Likewise, the supports are at 1820 levels. We expect sugar to move higher and recommend taking long positions on dips for the day.
NCDEX Soybean - November
Soybean settled slightly higher making marginal gains over previous days close. Prices opened on a weaker note and moved lower initially. However, some short covering in the market pushed prices higher, erasing the initial losses made. Prices may continue the momentum higher in todays trade also but the strength may be subdued. Resistance is seen at 1920 levels.
NCDEX RM Seed November
RM Seed prices settled higher after opening lower with a gap lower, as short covering pulled prices higher. Prices gapped open lower and continued the bearishness in the initial market hours. However the short covering that ensued in the markets took prices higher, erasing the losses made earlier. Market tested a good support at 570 levels and a close above 612 levels may see prices rally higher. For the day we expect prices to remain on the higher side.
NCDEX Guarseed Nov
Guarseed futures settled higher in yesterdays trade even as prices continued their consolidation for one more day. Markets opened on a weaker note, with prices opening lower than the previous days close. After posting the low for the day at 1643 levels, however, prices started to move higher finally settling at 1669 levels. Markets are very much indecisive with prices not giving any clarity with regards to the direction. Prices may remain sideways in todays trade also.
NCDEX Pepper November
Pepper futures edged higher on Tuesday as markets found good buying support around the supports at 13700 levels. Prices were mostly range bound till the closing hours, when prices surged higher taking markets past the resistance around 14000 levels. Market finds next resistance around 14500 levels. A close above these levels may see prices test 15000 levels. For the day we see prices continuing the upward journey.
NCDEX Steel Oct Sell at 27900-950 TP 27550 SL 28250
NCDEX Guar seed Nov Buy at 1663-60 TP 1683 SL 1645
NCDEX Soybean Nov Sell at 1900 TP 1860 SL 1925
NCDEX RM Seed Nov Sell at 595 TP 580 SL 600
NCDEX Chilli Oct Buy at 5180-90 TP 5070 STRICT SL 5120
NCDEX Pepper Oct Buy at 13820 TP 14050 SL 13630
NCDEX Turmeric Oct Buy at 3845 TP 3910 SL 3820
NCDEX Jeera Nov Buy at 11100 TP 11400 SL 10870
NCDEX Sugar Nov Buy at 1825-30 TP 1855 SL 1815
*NOTE: The calls shown above are purely INTRA-DAY and should NOT be carried forward.
Pick of the day:
STEEL- October-NCDEX: SELL BELOW 27700 TARGETING 27550 AND THEN 27350 WITH STOP LOSS ABOVE 28000, CLOSED AT 27800
Lack of any fresh fundamental trigger amid weak international markets and price reduction announcements is pressuring the metal to trade lower. We anticipate steel prices to trade lower for the day.
TURMERIC- October-NCDEX: BUY IN THE RANGE OF 3828-3839 TARGETING 3900 WITH STOP LOSS BELOW 3795, CLOSED AT 3867
Declining warehouses stock in NCDEX warehouses and increase in spot prices may result in speculat! ive buying in the market.
Spices
Pepper: Pepper futures saw a sharp rally in yesterdays session following emergence of fresh buying supported by strong fundamental factors. With the fresh export enquiries coming into India, exporters have started buying the futures as the inventory level in the physical market is very thin. The October contract Pepper futures traded surged to an intraday high of 13970 levels from a low of 13510 levels and ended the session at 13928 levels gaining by 2.42%.
Jeera: Jeera futures recovered sharply and crossed 2 percent upper circuit mainly due to short covering, which is supported by firmness in most of the spices. The active futures November NCDEX traded sideways for most of the day and huge buying towards end of session pushed up prices to Rs11255 and it closed at Rs11201 per quintal.
Turmeric: In previous trading session turmeric prices initially traded on lower side on continuation of continued profit taking, later prices recovered on improved spot price in Nizamabad market. In October contract prices after testing the days low at 3765 levels, recovered to 3884 levels before closing on positive note at 3867 up by 1.5%
Chilli: On NCDEX, futures chilli prices witnessed a slight pullback on recent massive fall from Rs. 5450 levels to 5130 levels. October contract chilli prices ended the session on positive note at 5208 levels after testing an intraday low at 5146 levels.
Coriander: Coriander futures also recovered after making new contract low. The active contract October MCX made new low of Rs7650 and recovered towards Rs7890 levels before closing at Rs7816 per quintal. Short covering on recent fall and firm tone in other spices helped coriander prices to recover from contract low.
Calls & Repots:
NCDEX Sugar November
The November contract sugar prices traded higher in the last trading session and after making a high of 1838 it settled at 1836 levels. The immediate resistances can be seen at 1844 and then 1860 levels. Likewise, the supports are at 1820 levels. We expect sugar to move higher and recommend taking long positions on dips for the day.
NCDEX Soybean - November
Soybean settled slightly higher making marginal gains over previous days close. Prices opened on a weaker note and moved lower initially. However, some short covering in the market pushed prices higher, erasing the initial losses made. Prices may continue the momentum higher in todays trade also but the strength may be subdued. Resistance is seen at 1920 levels.
NCDEX RM Seed November
RM Seed prices settled higher after opening lower with a gap lower, as short covering pulled prices higher. Prices gapped open lower and continued the bearishness in the initial market hours. However the short covering that ensued in the markets took prices higher, erasing the losses made earlier. Market tested a good support at 570 levels and a close above 612 levels may see prices rally higher. For the day we expect prices to remain on the higher side.
NCDEX Guarseed Nov
Guarseed futures settled higher in yesterdays trade even as prices continued their consolidation for one more day. Markets opened on a weaker note, with prices opening lower than the previous days close. After posting the low for the day at 1643 levels, however, prices started to move higher finally settling at 1669 levels. Markets are very much indecisive with prices not giving any clarity with regards to the direction. Prices may remain sideways in todays trade also.
NCDEX Pepper November
Pepper futures edged higher on Tuesday as markets found good buying support around the supports at 13700 levels. Prices were mostly range bound till the closing hours, when prices surged higher taking markets past the resistance around 14000 levels. Market finds next resistance around 14500 levels. A close above these levels may see prices test 15000 levels. For the day we see prices continuing the upward journey.
NCDEX Steel Oct Sell at 27900-950 TP 27550 SL 28250
NCDEX Guar seed Nov Buy at 1663-60 TP 1683 SL 1645
NCDEX Soybean Nov Sell at 1900 TP 1860 SL 1925
NCDEX RM Seed Nov Sell at 595 TP 580 SL 600
NCDEX Chilli Oct Buy at 5180-90 TP 5070 STRICT SL 5120
NCDEX Pepper Oct Buy at 13820 TP 14050 SL 13630
NCDEX Turmeric Oct Buy at 3845 TP 3910 SL 3820
NCDEX Jeera Nov Buy at 11100 TP 11400 SL 10870
NCDEX Sugar Nov Buy at 1825-30 TP 1855 SL 1815
*NOTE: The calls shown above are purely INTRA-DAY and should NOT be carried forward.
Pick of the day:
STEEL- October-NCDEX: SELL BELOW 27700 TARGETING 27550 AND THEN 27350 WITH STOP LOSS ABOVE 28000, CLOSED AT 27800
Lack of any fresh fundamental trigger amid weak international markets and price reduction announcements is pressuring the metal to trade lower. We anticipate steel prices to trade lower for the day.
TURMERIC- October-NCDEX: BUY IN THE RANGE OF 3828-3839 TARGETING 3900 WITH STOP LOSS BELOW 3795, CLOSED AT 3867
Declining warehouses stock in NCDEX warehouses and increase in spot prices may result in speculat! ive buying in the market.
Spices
Pepper: Pepper futures saw a sharp rally in yesterdays session following emergence of fresh buying supported by strong fundamental factors. With the fresh export enquiries coming into India, exporters have started buying the futures as the inventory level in the physical market is very thin. The October contract Pepper futures traded surged to an intraday high of 13970 levels from a low of 13510 levels and ended the session at 13928 levels gaining by 2.42%.
Jeera: Jeera futures recovered sharply and crossed 2 percent upper circuit mainly due to short covering, which is supported by firmness in most of the spices. The active futures November NCDEX traded sideways for most of the day and huge buying towards end of session pushed up prices to Rs11255 and it closed at Rs11201 per quintal.
Turmeric: In previous trading session turmeric prices initially traded on lower side on continuation of continued profit taking, later prices recovered on improved spot price in Nizamabad market. In October contract prices after testing the days low at 3765 levels, recovered to 3884 levels before closing on positive note at 3867 up by 1.5%
Chilli: On NCDEX, futures chilli prices witnessed a slight pullback on recent massive fall from Rs. 5450 levels to 5130 levels. October contract chilli prices ended the session on positive note at 5208 levels after testing an intraday low at 5146 levels.
Coriander: Coriander futures also recovered after making new contract low. The active contract October MCX made new low of Rs7650 and recovered towards Rs7890 levels before closing at Rs7816 per quintal. Short covering on recent fall and firm tone in other spices helped coriander prices to recover from contract low.
