Intraday MCX Tips

Cardamom gained on short covering lead by strong local demand against the weak arrivals in the local market over the same period last year. The MCX cardamom December contract ended the day at Rs 943.50, up Rs 36.40 or 4% from the last close.
As per the latest updates from the Spices Board of India, the average pricesof cardamom in the auction held at STCL, Kumily on Monday (as on 26th November2012) stood at Rs 839.42 and maximum price was at Rs 1058 per kg. The arrivalsand offtakes stood at 22470 kg. The average price in the previous auction was Rs832.52 per kg, meanwhile arrivals and offtakes stood at 96560 kg.
India's crop is projected lower over last year and short fall in the local arrivals is expected in mid December -January period. Cardamom is expected to bounce back in medium term, when arrivals slumps in auctions and on pick up in export orders. Guatemala's crop with carry over stocks estimated around 34 thousand tonnes and some infestation will affect mainly the quality of the Guatemalan cardamom this season. Guatemala produced a record of 10,000 tons of cardamom in the month of October 2012. Never before on the history of cardamom, Guatemala had produced so much cardamom in one month. This is 40 % of the total production of Guatemala three years back. Guatemala cardamom harvesting runs through October till June next year.

Cardamom gained Rs 165 per 1 kg in November lead by strong fundamentals. Cardamom dipped around Rs 70 per 1 kg in the last two sessions from the high of Rs 977.20. Cardamom December contract ended the day at Rs 943.50, up Rs 36.40 or 4% from the last close. The open interest dipped 100 lots to 3,827 lots, indicating profit taking.

MCX Crude Oil Tips

Crude oil futures continued to trade lower in Asia electronic session today as Tropical Cyclone Sandy shut East Coast refineries, roads and airports, reducing crude and fuel demand in the world's largest oil consumer.

Fuel supply into the region almost ground to a halt as Sandy, one of the biggest storms ever to hit the United States, forced the closure of two-thirds of the region's refineries, its biggest pipeline, and most major ports.

WTI crude oil futures for December edged down 25 cents to $85.29 in Asia electronic session today.

The national average retail price of regular gasoline fell 11.9 cents a gallon to a three-month low of $3.568 a gallon in the week ended Monday, the Energy Information Administration said. The 3.2% drop in the week put the price at the lowest since July 30.

Global markets were subdued on the closure of New York stock exchanges, with Asian shares making modest gains. Sandy battered the U.S. East Coast, prompting the closure of air, ship, rail and even highway services, and knocked out power to more than 2.8 million homes and businesses in the region.

Sandy will close U.S. stock markets for a second day on Tuesday, as Wall Street turned its attention to whether markets would be able to resume functioning for the month's final trading day on Wednesday.

The American Petroleum Institute said on Monday it has not delayed the release of its weekly petroleum stocks report yet, but it will continue to assess conditions.

MCX November crude futures may open today’s session near Rs 4650 levels with support around Rs 4600 levels.

Chana updates

Advisory Data:-

Saturday buying continued in chana futures on the back of strong millers offtake along with sharp gains in local mandies. The NCDEX futures swelled by almost Rs 132 per quintal today
Strapping millers offtake ahead of festival demand spurred strong gains in both spot and futures market. Most of the millers of North India have witnessed active buying interest in local mandies. Moreover, poor moisture content in some parts of the chana growing states also added speculative demand in local mandies.
The spot prices of chana such as Akola and Latur variety increased by almost Rs 75-100 per quintal today from the previous day to trade at around Rs 4500-4650 per quintal with the total arrivals of 35 thousand bags.
The NCDEX November Chana contract increased by almost Rs 132 per quintal to settle at Rs 4530 per quintal in today's trading. The contract pared 800 positions in open interest indicating short covering by speculators and traders.

Chill updates

Selling might continue in chilli futures at every spurt in the wake of new arrivals in Madhya Pradesh mandies coupled with favourable crop condition in Andhra Pradesh and Karnataka. The NCDEX futures wilted Rs 105 per quintal in the last trading.
The major mandies of Madhya Pradesh such as Bediya , Indore and Mandsaur have reported the average daily arrivals of around 1000-1500 bags of new crop . These are likely to gain momentum after October 15. Moreover, most of the chilli growing regions of Andhra Pradesh such as Guntur and Khammam also witnessed the favourable rainfall from the last ten days . This might also encourage the better productivity of chilli crop.
The total daily arrivals of chilli reported at around 10 thousand bags at Guntur mandi. While the spot prices of chilli S334- quality were trading at Rs 5200-5400 per quintal and Teza New quality at Rs 7200-7500 per quintal , down almost Rs 100 per quintal in the last day.
The NCDEX November Chilli contract declined by almost Rs 105 per quintal to settle around its new contract low of Rs 5150 per quintal in the previous day. The contract pared 30 positions in open interest indicating long liquidation by speculators and traders. Technically, prices are likely to witness some selling around Rs 5210-5215 per quintal while supports are likely at Rs 5120-5130 per quintal in the short term.

Mentha oil Updates, today mcx chart

Mentha Oil ended the day with smart gains on fresh buying. Mentha oil traded higher on spot demand against the weak arrivals in local mandis. The MCX Mentha oil most active sep contract ended near 1217.

Indian mentha oil prices were not sustaining at higher levels due to the weak export demand for Indian parity due to its higher prices in the global markets. New crop from Indonesia is likely to reach in the market from mid September and crop size is expected to normal during the year. Despite the increase in the global pepper production,