Weekly Newsletter-Agri Commodity 14/11/2011
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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 down this week after 3 weeks of uptrend on the back of profit booking and fresh selling at higher levels by7 traders amid subdued demand. Chana prices may see consolidation and will take cues from its production and arrivals in the market and any news of higher arrivals may see fresh selling as well.
JEERA Jeera ended down for second consecutive week due to fresh selling amid lackluster demand outlook and recent drop in its export demand as well. Jeera may see some short covering in next week at lower levels coupled with fresh buying while its production estimates from major producing regions will be crucial.
PEPPER Pepper rebounded and ended in green due to fresh buying at lower levels and short covering as its demand outlook is still intact amid limited stocks. Pepper prices will take cues from its export demand as prices in the international market by Vietnam is reduced though any news of lower arrivals will support the prices as there are limited stocks in the market.
TURMERIC Turmeric ended negative note for fifth consecutive week as it is in stiff consolidation phase due to lack of triggers in the market. Turmeric prices will take cues from the stocks and arrivals in the domestic market and any news of lower arrivals may support prices to witness fresh buying and short covering.
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TECHNICAL VIEW CHANA WEEKLY PIVOT SCRIPT CHANA
R4 4042
R3 3822
R2 3602
R1 3497
P 3382
S1 3277
S2 3162
S3 2942
S4 2722
OUTLOOK Trend: - Consolidate Resistance: - 3530, 3700 Support: - 3200, 3170 Strategy: - Sell on high CHANA WEEKLY
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JEERA WEEKLY PIVOT SCRIPT JEERA
R4 16650
R3 15582
R2 14514
R1 13918
P 13446
S1 12850
S2 12378
S3 11310
S4 10242
OUTLOOK Trend: - Consolidate Resistance: - 13550, 13910 Support: - 13000, 12850 Strategy: - Sell on high JEERA WEEKLY
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PEPPER WEEKLY PIVOT SCRIPT PEPPER
R4 39320
R3 37470
R2 35620
R1 34970
P 33770
S1 33120
S2 31920
S3 30070
S4 28220
OUTLOOK Trend: - Consolidate Resistance: - 35600, 37400 Support: - 33100, 31200 Strategy: - Buy on dips PEPPER WEEKLY
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TURMERIC WEEKLY PIVOT SCRIPT TURMERIC
R4 5899
R3 5545
R2 5191
R1 5029
P 4837
S1 4675
S2 4483
S3 4129
S4 3775
OUTLOOK Trend: - Consolidate Resistance: - 5050, 5250 Support: - 4670, 4480 Strategy: - Sell on high TURMERIC WEEKLY
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