AHMEDABAD (Commodity Online): Chilli Future opened down at 5311 per quintal vs. previous close of 5333. Guntur spot market is closed today due to strike in support of United Andhra Pradesh.

NCDEX Feb Chilli future closed at 5379 up by 46 rupees from previous close. Expected higher rabi output of chilli may pull down chilli prices in the future. As per data from Andhra Pradesh agriculture department, till Dec 30, chilli acreage was 50,000 hectare, up from 48,000 hectare a week ago.

"Technically, range for Chilli is from 5300-5500,” said Shyamal Mehta, Research Analyst with Commodity Online. 14 days RSI for NCDEX Chilli Feb contract is at 37.30 and its falling steadily which shows bearish trend. Currently Chilli future is trading below 8 and 13 days weighted moving average which also signals downtrend.

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