Commodity	:	Red Chillies
Exchange	:	NCDEX
Perspective	:	Very Short Term

NCDEX JULY CONTRACT





TECHNICALS:
Candlestick formation reveals sellers participation in the market. Prices closed below 9 and 18-day EMA’s thus supporting the bearish momentum in the short term. MACD is moving up in the negative region and hints at a decline in bearish momentum. RSI is moving down in the neutral region and is supporting the bearish sentiments in the market. Chilli is likely to trade with a weak bias.


OUTLOOK:
Participants may sell on rebounds.


INTRADAY TRADE RECOMMENDATION / SUPPORT AND RESISTANCES (NCDEX):





Do not carry forward the position until the next day.