Weekly Newsletter Newsletter-Agri Agri Commodity 16/05/2011
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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 There are expectations of some more recovery from lower levels in coming weeks on expected rise in domestic demand amidst falling arrivals. A Higher production prospect for Chana and other Pulses could however prevent the rates from moving up significantly.
TURMERIC Price trend in the short term are likely to depend on the arrivals and demand from the overseas and domestic buyers. In the medium to long term turmeric prices will take cues from the turmeric stocks at the domestic market and onset of monsoon in the major growing regions.
JEERA A small recovery in prices on short covering on lower levels can be seen initially in the week. Jeera prices will depend on the demand from the overseas and domestic buyers. Prices will also take cues from the production of this spice in Syria and Turkey the other major producers.
PEPPER Pepper is expected to trade on bullish note on strong buying interest. Limited supply amid good demand is likely to support the prices. Futures are expected to witness corrections on profit selling as prices are trading at all time high levels. Price trend will depend on pepper production in Indonesia and Brazil and demand from the overseas and domestic buyers.
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TECHNICAL VIEW CHANA WEEKLY PIVOT SCRIPT CHANA
R4 2718
R3 2624
R2 2530
R1 2493
P 2436
S1 2399
S2 2342
S3 2248
S4 2154
OUTLOOK Trend:- Consolidate Resistance:- 2500 2500, 2575 Support:- 2400, 2325 Strategy:- Buy on dips CHANA WEEKLY
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TURMERIC WEEKLY PIVOT SCRIPT TURMERIC
R4 9422
R3 9084
R2 8746
R1 8614
P 8408
S1 8276
S2 8070
S3 7732
S4 7394
OUTLOOK Trend:- Consolidate Resistance:- 8900 8900, 9250 Support:- 7850, 7450 Strategy:- Sell on Highs TURMERIC WEEKLY
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JEERA WEEKLY PIVOT SCRIPT JEERA
R4 16373
R3 15900
R2 15427
R1 15156
P 14954
S1 14683
S2 14481
S3 14008
S4 13535
OUTLOOK Trend:- Bearish Resistance:- 15350 350, 15800 Support:- 14400,, 13800 Strategy:- Sell on Highs JEERA WEEKLY
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PEPPER WEEKLY PIVOT SCRIPT PEPPER
R4 36312
R3 34192
R2 32072
R1 31125
P 29952
S1 29005
S2 27832
S3 25712
S4 23592
OUTLOOK Trend:- Bullish Resistance:- 31125 31125, 32070 Support:- 29000,, 27830 Strategy:- Buy on dips PEPPER WEEKLY
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