Weekly Newsletter-Agri Commodity 09/01/2012
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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 ended up for second consecutive week on the back of extended buying owing to firm spot demand in the market. Chana prices are expected to continue uptrend though it will face stiff resistance at 3550 levels while low rains in southern states and production Gujarat will affect the prices as well.
GUARSEED Guar seed sizzled up this week after last week’s correction taking cues from its firm export demand in international market. Guar seed may extend uptrend in coming week though there can be a correction as international buyers are not placing orders at higher levels and wait for some correction.
JEERA Jeera ended down after two weeks of uptrend owing to fresh selling at higher levels and profit booking as there are reports of higher sowing. Jeera prices will be dependent on crop growth status in major producing regions as there are reports of higher sowing and its export and production reports from Spice board of India.
PEPPER Pepper ended down this week shredding 4.2% due to subdued demand outlook in the domestic market and weak exports demand as well Pepper prices will take cues from its domestic and international production reports and export demand coupled with arrivals in the domestic mandis.
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TECHNICAL VIEW CHANA WEEKLY PIVOT SCRIPT CHANA
R4 3867
R3 3711
R2 3555
R1 3494
P 3399
S1 3338
S2 3243
S3 3087
S4 2931
OUTLOOK Trend: - Consolidate Resistance: - 3300, 3540 Support: - 3360, 3250 Strategy: - Sell on high CHANA WEEKLY
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GUARSEED WEEKLY PIVOT SCRIPT GUARSEED
R4 10376
R3 9462
R2 8548
R1 8206
P 7634
S1 7292
S2 6720
S3 5806
S4 4892
OUTLOOK Trend: - Bullish Resistance: - 8000, 8690 Support: - 7470, 7050 Strategy: - Buy on dips GUARSEED WEEKLY
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JEERA WEEKLY PIVOT SCRIPT JEERA
R4 19951
R3 18676
R2 17401
R1 16550
P 16126
S1 15277
S2 14851
S3 13576
S4 12301
OUTLOOK Trend: - Consolidate Resistance: - 16400, 17000 Support: - 15300, 14500 Strategy: - Sell on high JEERA WEEKLY
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PEPPER WEEKLY PIVOT SCRIPT PEPPER
R4 38740
R3 36520
R2 34300
R1 33000
P 32080
S1 30780
S2 29860
S3 27640
S4 25420
OUTLOOK Trend: - Consolidate Resistance: - 33900, 34800 Support: - 30200, 28400 Strategy: - Sell on high PEPPER WEEKLY
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