Weekly Newsletter-Agri Commodity 03/10/2011
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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 has ended down this week due to correction and profit booking; higher arrivals in the market from fresh crop will pressurize prices in coming week Additional margin on Chana futures will further weigh on prices while any news of higher arrival will impact prices on downside.
JEERA Jeera ended down due to fresh selling while higher production estimates and higher arrivals in market amid sluggish demand will keep prices in downtrend. Jeera prices will be dependent on major domestic and international producing regions and export demand outlook in the near term.
PEPPER The prices of pepper are likely to take cues from international and domestic demand and any news of lower arrivals from fresh crop will support prices. Pepper has ended down this week on the back of additional margin and profit booking though supply side crunch will support prices at lower level.
TURMERIC Turmeric rebounded this week and ended up on the back of fresh buying at lower level by traders coupled with short covering ahead of festive season. Turmeric prices will take cues from arrivals in the market and expected rise in demand due to festival season will also support the prices, though, any news of higher arrivals in the market will cap its upside gains
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TECHNICAL VIEW CHANA WEEKLY PIVOT SCRIPT CHANA
R4 5030
R3 4460
R2 3890
R1 3510
P 3320
S1 2940
S2 2750
S3 2180
S4 1610
OUTLOOK Trend: - Consolidate Resistance: - 3250, 3550 Support: - 3000, 2750 Strategy: - Sell on high CHANA WEEKLY
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JEERA WEEKLY PIVOT SCRIPT JEERA
R4 18653
R3 17373
R2 16093
R1 15327
P 14813
S1 14047
S2 13533
S3 12253
S4 10970
OUTLOOK Trend: - Consolidate Resistance: - 14800, 15200 Support: - 14100, 13700 Strategy: - Sell on high JEERA WEEKLY
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PEPPER WEEKLY PIVOT SCRIPT PEPPER
R4 41300
R3 39330
R2 37360
R1 36280
P 35390
S1 34310
S2 33420
S3 31450
S4 29480
OUTLOOK Trend: - Consolidate Resistance: - 36500, 37600 Support: - 33600, 31500 Strategy: - Buy on dips PEPPER WEEKLY
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TURMERIC WEEKLY PIVOT SCRIPT TURMERIC
R4 6273
R3 5673
R2 5073
R1 4867
P 4473
S1 4267
S2 3873
S3 3273
S4 2673
OUTLOOK Trend:- Bearish Resistance:- 4850, 5100 Support:- 4300, 4050 Strategy:- Sell on high TURMERIC WEEKLY
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