Weekly Newsletter-Agri Commodity 31/10/2011
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Weekly News Letter-Agri Contents Market Wrap Chana Jeera Pepper Turmeric Technical Analysis Chana Turmeric Jeera Pepper
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MARKET WRAP CHANA Chana extended its uptrend for 2nd consecutive week amid festive season and lower supply concerns with regular decline in stocks kept prices firm. Chana prices will be dependent on arrivals in the market and gains might be limited owing to good sowing progress in Andhra Pradesh and Karnataka regions that may take some profit booking at higher levels.
JEERA Jeera ended flat this week on a negative note as there was less triggers in the market and cautiousness over its demand in the near term due to sluggish demand outlook. Jeera prices will take cues from its demand from both domestic and international markets while lower production estimates can keep trend firm.
PEPPER Pepper ended for second consecutive week witnessing its overdue correction amid subdued demand in the domestic market and higher arrivals in market. Pepper will be taking cues in the coming week from its demand outlook in the near term after festive season and focus will be more on major producing region production estimates that can make prices rise or drop further.
TURMERIC Turmeric ended flat this week with trivial loss making a Doji due to short covering at lower level and expected rise in demand. Turmeric prices will take cues from next year total supply of turmeric which is expected to remain above 1 crore bags. However, increased acreage along with bumper crop expectations might weigh on prices in near term.
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TECHNICAL VIEW CHANA WEEKLY PIVOT SCRIPT CHANA
R4 3921
R3 3750
R2 3579
R1 3500
P 3408
S1 3329
S2 3237
S3 3066
S4 2895
OUTLOOK Trend: - Consolidate Resistance: - 3560, 3700 Support: - 3280, 3050 Strategy: - Buy on dips CHANA WEEKLY
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JEERA WEEKLY PIVOT SCRIPT JEERA
R4 16336
R3 15748
R2 15160
R1 14873
P 14572
S1 14285
S2 13984
S3 13396
S4 12808
OUTLOOK Trend: - Consolidate Resistance: - 14850, 15200 Support: - 14050, 13400 Strategy: - Sell on high JEERA WEEKLY
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PEPPER WEEKLY PIVOT SCRIPT PEPPER
R4 40317
R3 38317
R2 36317
R1 35080
P 34317
S1 33083
S2 32317
S3 30317
S4 28317
OUTLOOK Trend: - Consolidate Resistance: - 34600, 36000 Support: - 31600, 30300 Strategy: - Sell on high PEPPER WEEKLY
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TURMERIC WEEKLY PIVOT SCRIPT TURMERIC
R4 7063
R3 6483
R2 5903
R1 5577
P 5323
S1 4997
S2 4743
S3 4163
S4 3583
OUTLOOK Trend: - Consolidate Resistance: - 5250, 5600 Support: - 4900, 4650 Strategy: - Sell on high TURMERIC WEEKLY
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