NCDEX Future Index – Sharp Decline
As per NCDEX Future index movements, I don’t see bright future of some commodities (updated below). According to secret sources, NCDEX Future Index may come down up to 3040 – 3016 this week.
There’s only one way to the uptrend – Breakout & Closing above to 3080 level.
How would Guargum React this week?
From the October end, Guargum started moving upside. It almost moved upside up to 1000 rupees! …But in last trading session, it had closed negative (-68 rupees).
For NCDEX traders, the hurdle is 8720 level.
Targets: 8500 – 8380
Note: if guargum will close above the 8720 level then we can see 8800 – 8900 levels on next week!
Soyabean – Continued Weakness
You need to watch just 3050 level. If soyabean will crossover & close above to this level then buy without any worry. Targets: 3100 – 3140+
If soyabean remain below to this level then sell. Targets: 2950 – 2900 – 2880
This week Soyabean has 90% chance to remain down. Smart traders know what to do now!
How Low Could Turmeric Go?
Turmeric is taking U-term (reversal). If it will break last trading session tail (7572 level) then we may see more upside moves. But at the present time, turmeric is under selling pressure.
Targets: 7350 – 7300 – 7230
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