Weekly Newsletter Newsletter-Agri Agri Commodity 11/07/2011
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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 In the short, prices will takes cues from the sowing progress of Kharif Pulses which is so far estimated lower and monsoon progress over the major Pulses growing areas. According to derivative analysis, the increase in price, volume and decline in open interest indicates volatile trend in market with biasness towards selling side which might lead to correction.
TURMERIC The turmeric prices are expected to extend the falling trend amid poor domestic demand across the spot markets. Farmers are also dumping their goods at spot market which might weigh on prices. Rain in north India has also affected the upcountry demand which might also pressurized the prices. However, sudden fall in arrivals might support the prices at lower levels.
JEERA Jeera prices in the intraday are likely to trade sideways to up owing to improvement in demand from the domestic and overseas buyers. Prices will also take cues from the carryover stocks of jeera with India. This season carryover stocks are expected to remain at the lower side owing to lower production. This is likely to support prices.
PEPPER Vietnam has increased its export target by 10,000 tons to 1,20,000 tons in 2011 which might weigh on Indian pepper prices. Exporters are expecting some export demand for Indian pepper. However, prevailing heavy volatility in prices are limiting the movement. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CHANA WEEKLY PIVOT SCRIPT CHANA
R4 3079
R3 2991
R2 2903
R1 2857
P 2815
S1 2769
S2 2727
S3 2639
S4 2551
OUTLOOK Trend:- Bullish Resistance:- 2860 2860, 2990 Support:- 2770, 26 2640 Strategy:- Buy on dips CHANA WEEKLY
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TURMERIC WEEKLY PIVOT SCRIPT TURMERIC
R4 8767
R3 8397
R2 8027
R1 7833
P 7657
S1 7463
S2 7287
S3 6917
S4 6547
OUTLOOK Trend:- Consolidate Resistance:- 8000 000, 8400 Support:- 7300, 6900 Strategy:- Sell on high TURMERIC WEEKLY
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JEERA WEEKLY PIVOT SCRIPT JEERA
R4 18649
R3 17320
R2 15991
R1 15168
P 14662
S1 13839
S2 13333
S3 12004
S4 10675
OUTLOOK Trend:- Consolidate Resistance:- 14800 4800, 15550 Support:- 13900,, 13350 Strategy:- Sell on high JEERA WEEKLY
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PEPPER WEEKLY PIVOT SCRIPT PEPPER
R4 29062
R3 28383
R2 27704
R1 27301
P 27025
S1 26622
S2 26346
S3 25667
S4 24988
OUTLOOK Trend:- Consolidate Resistance:- 27750 7750, 29550 Support:- 25750,, 24050 Strategy:- Sell on high PEPPER WEEKLY
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