Weekly Newsletter Newsletter-Agri Commodity 11/10/2010
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Weekly News Letter-Agri Contents Market Wrap Chana Turmeric Jeera Pepper Technical Analysis Chana Turmeric Jeera Pepper
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MARKET WRAP CHANA The retrieval of monsoon over the major growing areas of Madhya Pradesh will support the land preparation activities for good sowing in chana. Local demand is expected to improve ahead of the festivals & marriage season. Demand for Chana has improved in the past week however, weakness in other Pulses is capping the gains at higher levels.
TURMERIC Turmeric prices continued to trade higher as farmers are not releasing the stocks due to lower prices. Demand from domestic & overseas buyers will also determine the price trend. NCDEX accredited warehouses turmeric stocks fell 40 tonnes to 4393 tonnes.
JEERA Sowing of Jeera is expected to commence in next week, which is also pressurizing the prices of Jeera for short term. Selling pressure has increased in the spot market on likelihood of further fall in the prices.
PEPPER In medium to long term prices will depend on the stocks of pepper with the major suppliers particularly Vietnam, Indonesia and India. Domestic market thrived with supply while overseas demand remained down for pepper.
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TECHNICAL VIEW CHANA WEEKLY PIVOT SCRIPT CHANA
R4 2504
R3 2429
R2 2354
R1 2318
P 2279
S1 2243
S2 2204
S3 2129
S4 2054
OUTLOOK Trend:- Consolidate Resistance:- 2215 2215, 2260 Support:- 2095, 2040 Strategy:- Buy on dips CHANA WEEKLY
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TURMERIC WEEKLY PIVOT SCRIPT TURMERIC
R4 17762
R3 16660
R2 15558
R1 15104
P 14456
S1 14002
S2 13354
S3 12252
S4 11150
OUTLOOK Trend:- Bullish Resistance:- 15250, 16030 Support:- 13970, 13160 Strategy:- Buy on dips TURMERIC WEEKLY
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JEERA WEEKLY PIVOT SCRIPT JEERA
R4 15343
R3 14582
R2 13821
R1 13386
P 13060
S1 12625
S2 12299
S3 11538
S4 10777
OUTLOOK Trend:- Bearish Resistance:- 13510, 14240 Support:- 12510, 11980 Strategy:- Sell on highs JEERA WEEKLY
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PEPPER WEEKLY PIVOT SCRIPT PEPPER
R4 21677
R3 20662
R2 19647
R1 18998
P 18632
S1 17983
S2 17617
S3 16602
S4 15587
OUTLOOK Trend:- Bearish Resistance:- 19280, 19700 Support:- 17965, 17320 Strategy:- Sell on highs PEPPER WEEKLY
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