NCDEX RM Seed July (CMP Rs 2920):

The price of RM seed appears to be forming a Bullish Flag Pattern on its daily charts. The Bullish Flag price pattern is a continuation pattern and suggests that the prices will gain momentum for a fresh up move after a small consolidation. Thus, the bullish flag pattern would be confirmed on a break above Rs 2945 levels. Thus, traders can buy above Rs 2945 levels with a stop loss placed below Rs 2917 levels for targets of Rs 2975 and Rs 3000 levels.

NCDEX Jeera June (CMP Rs 13979):

The price of Jeera has registered a Head and shoulders break down on its daily charts as it closed below its neckline support level of Rs 14150 levels. The price of Jeera is also trading below all of its key moving average clusters which is also a bearish signal. Thus, we recommend traders to sell between Rs 13900—Rs 14200 levels with a stop loss placed above `14459 levels for downside targets of Rs 13650 and Rs13350 levels.

NCDEX Pepper – June (O: 29324 H: 29540 L: 28600 C: 28921)

The price of The price of Pepper witnessed a sharp fall on 25th May, 2011 and registered a close below its key moving averages which had been providing good support for the price of pepper during the recent uptrend. Since then the price of Pepper has been consolidating in a narrow range of `29450--`28825 levels. But the key observation to be made on the daily charts of Pepper is that the price has been taking shape of a Reverse/Bearish Flag formation. The Reverse Flag price pattern is a continuation pattern and suggests that the price will gain momentum for a fresh down move after a small consolidation. A break below `28790 levels will confirm the pattern and will bring about fresh downside momentum in the price of Pepper. The other observation that supports the bearish argument is that the MACD indicator has also given a sell signal.
Hence, we recommend traders to sell below `28790 levels with a stop loss placed above `29257 levels for downside targets of `28450 and `28000 levels.

NCDEX Turmeric June (CMP Rs 7886):

The price of Turmeric has gone through severe correction from the highs of Rs 10618 levels as on 09th April till date. But, the most important observation to be made on the charts of Turmeric is the positive divergence displayed by indicators. They signal that the declining movement of the price could have lost force and in all likelihood give some kind of a bounce back. In the short term we expect the price to head towards the target of Rs 8030 / Rs 8175 levels. We recommend buying between Rs 7920—7850 levels with a stop loss placed below Rs 7763 levels.

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MCX Copper June (CMP Rs 412.95):

The price of Copper appears to be forming an inverted head and shoulder pattern on its intraday charts. A breakout from the said pattern would be confirmed when the price breaks above the neckline resistance level of `416. We believe that if the Head & Shoulders formation does record a breakout, the price could advance to levels of Rs 419 - Rs 422.50 levels. Thus traders can buy on a break above Rs 416 levels with a stop loss placed below Rs 412.40 levels for the above mentioned targets.

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MCX Chana June (CMP Rs412.95)

The price of Chana has made a double top formation and fell sharply from a high of Rs 2553 levels during yesterday’s session. The double bottom formation is also backed by a negative divergence in the RSI indicator. Thus, all of the above technical evidence is suggesting a trend reversal.
Hence, we recommend traders to sell 50% on a break below Rs 2514 levels and again between Rs 2550—Rs 2560 levels with a stop loss placed above Rs 2573 levels for an initial downside target of Rs 2490 and further downsides towards the Rs 2465 levels can be seen on a break below Rs 2490 levels.

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NCDEX Soya Oil Ref June

NCDEX Soya Oil Ref June(CMP `649.30):

The price of Soya Oil Ref registered a Bullish Flag breakout during the previous session of trade. The Bullish Flag price pattern is a continuation pattern and suggests that the prices will gain momentum for a fresh up move after a small consolidation. The 8-day moving average also provides good support for the price of soya oil ref on pullbacks. Thus, traders can buy 50% at current levels and again on dips to Rs 646--Rs 644 levels with a stop loss placed below Rs 641.75 levels for targets of Rs 655 and Rs 662 levels.

MCX Crude Oil June

MCX Crude Oil June (CMP Rs 4602):

The price of Crude Oil has given a breakout to an ascending triangle pattern with an increase in average trading volume on its intraday charts during yesterday’s session. This price pattern is bullish formation that will lead to significant upside in prices over upcoming few sessions of trade. Thus traders can look to enter on dips to Rs 4584--Rs 4560 levels with a stop loss placed below Rs 4539 levels for the targets of Rs 4650/ Rs 4725 levels.

NCDEX Guarseed – June View

NCDEX Guarseed – June (O: 3299 H: 3351 L: 3275 C: 3341)

The price of Guarseed has witnessed a smart up move since it registered a low of Rs 2627levels as on 11th Mar, 2011. The key observation to be made on the daily charts is that the price of Guarseed has registered a close above its recent consolidation range of Rs 3332 to Rs 3255 levels. The up move witnessed during the previous session was also on the back of strong surge in volumes. Another sign of strength is that, the price of Guarseed has also been taking good support at its 8 day and 21 day moving averages on pullbacks. The RSI indicator is also in buy mode.
Hence, we recommend buying 50% at current levels and again on dips to Rs 3310--Rs 3290 levels with a stop loss placed below Rs 3273 levels for targets of Rs 3400 and Rs 3450 levels.