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NCDEX pepper was trading near the lower end of the medium-term rising channel. The weekly lower Bollinger Band provided support to the agri commodity and push it up. The price has crossed the 40-Weekly Exponential Moving Average (Rs31,500) and the 20-weekly moving average (Rs33,500). The weekly momentum indicator has triggered a bullish crossover. Hence pepper seems to have started a new move on the upside. Unless it breaks the 20-weekly moving average on a closing basis the channel targets are Rs40,900 and Rs45,900.

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NCDEX chana was trading in a range bound manner for several weeks. The consolidation formed a large triangle and broke out on the upside. It has also retested the trendline and has resumed the rally. The daily momentum indicator is in line with the price action whereas the weekly momentum indicator has given a fresh buy signal. Thus short- term as well as medium-term trend for chana is up.The targets are Rs3,940and Rs4,100 (the equality targets).The reversal would be below Rs3,421.
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Jeera has fallen below the 20-weekly moving average (WMA; Rs14,558) and the 40-weekly exponential moving average (WEMA; Rs14,763), which are now acting as resistances. Jeera is falling down as a follow-through of a bearish outside bar that was formed on the weekly chart. The weekly momentum indicator is also showing weakness. It has triggered a bearish crossover. Unless the high of Rs15,010 is crossed the agri commodity is likely to fall towards Rs13,400 (the rising trendline). Whether Rs13,400 holds will decide the future course of action for jeera.
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The NCDEX guar seed has been trading in a range. Structurally it is forming a triangle. The 20-daily moving average and the lower end of the rising channel are there to provide support. In the time the commodity has consolidated the daily momentum indicator has cooled off. Unless the swing low of Rs11,035 is broken the view remains bullish. The break-out level on the upside is Rs12,730. The channel target is Rs15,400.
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