Weekly Newsletter Newsletter-Agri Agri Commodity 25/07/2011
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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 Demand from the local stockists and reports of decline in the area sown under pulses are likely to support prices. The current predictions with respect to monsoon and sowing acreage point towards downward projections of Kharif output which may provide support to the prices. Chana Prices may gain by Rs. 100-150 from the current levels.
TURMERIC Price trend in the short term are likely to depend on distribution of rainfall in the growing areas and demand for the spice from domestic and overseas buyers. In the medium term turmeric prices will take cues from the turmeric stocks at the domestic market and sowing progress of turmeric.
JEERA Jeera prices 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 As the pepper prices in the international market of all regions are at same levels there is likelihood that overseas buyers might place fresh orders in the domestic market in the short term. Prices, volumes and open interest all have shown a positive move. It is a good indication that market is running out of traders willing to open or hold an open buy. A higher probability the market is set to retrace in price lower. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CHANA WEEKLY PIVOT SCRIPT CHANA
R4 3504
R3 3339
R2 3174
R1 3117
P 3009
S1 2952
S2 2844
S3 2679
S4 2514
OUTLOOK Trend:- Bullish Resistance:- 3120 3120, 3175 Support:- 2950, 2840 Strategy:- Buy on dips CHANA WEEKLY
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TURMERIC WEEKLY PIVOT SCRIPT TURMERIC
R4 8567
R3 8133
R2 7699
R1 7545
P 7265
S1 7111
S2 6831
S3 6397
S4 5963
OUTLOOK Trend:- Consolidate Resistance:- 7900 7900, 8350 Support:- 6930, 6600 Strategy:- Sell on high TURMERIC WEEKLY
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JEERA WEEKLY PIVOT SCRIPT JEERA
R4 21617
R3 19831
R2 18045
R1 17394
P 16259
S1 15608
S2 14473
S3 12687
S4 10901
OUTLOOK Trend:- Bullish 17400, 18050 Resistance:- 17400 Support:- 15600,, 14470 Strategy:- Buy on dips JEERA WEEKLY
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PEPPER WEEKLY PIVOT SCRIPT PEPPER
R4 35287
R3 33249
R2 31211
R1 30426
P 29173
S1 28388
S2 27135
S3 25097
S4 23059
OUTLOOK Trend:- Consolidate Resistance:- 30700 30700, 31500 Support:- 28500,, 27200 Strategy:- Buy on dips PEPPER WEEKLY
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