April 25, 2011

Commodity Report Over Gur Prices

The commodity prices of Gur at NCDEX opened at 1056 per quintal for July and it made an intraday low of 1038 but it started trading up side and made an intraday high of 1061 and still expected to trade up side. the reason for this is profit booking by some people.

The fall in commodity prices of Gur manufacturing due poor availability of sugarcane, as farmers diverted their crops to sugar mills for higher prices. The prices of Gur are increased due to this reason.

The commodity RSI 14 days on daily chart currently indicates at 78.00 shows that it may go up in near future.The Gur 14 days RSI for week currently indicates at 75.00 also suggest that it likely to go up in near future.

Teh Commodity traders can trade in Gur because it has opportunistic market for NCDEX trade, the traders are suggested to trade in July contract. 

Gur NCDEX near 1055 and target 1090 in short term.

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