Weekly Newsletter-Agri Commodity 19/09/2011
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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 is expected to continue its uptrend due to strong demand outlook in the near term coupled with ongoing festivals. Chana prices are likely to be dependent on the arrivals in the spot mandis and any news of supply concerns on global front could support prices further.
JEERA Jeera futures are forecast to sideways to negative with sell on high strategy as the demand has not picked up and steady higher arrivals. Jeera prices will be dependent on international production and domestic market demand; also, higher production could dampen prices further in a downtrend.
PEPPER Pepper will continue its uptrend for the coming week due to sharp rise in prices late Friday on the back of rise in domestic demand and lower global production concerns. The prices of pepper are likely to take cues from international and domestic demand and lower arrivals from fresh crop will keep the trend firm.
TURMERIC Turmeric is expected to be sideways to negative as there are fresh short positions amid subdued demand outlook in the near term. Any news of lower arrivals or expected rise in demand ahead of festival could
support
prices
for
short
covering
though
steady
higher
arrivals are still a concern that could pressurize prices in the coming week.
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TECHNICAL VIEW CHANA WEEKLY PIVOT SCRIPT CHANA
R4 4087
R3 3897
R2 3707
R1 3643
P 3517
S1 3453
S2 3327
S3 3137
S4 2947
OUTLOOK Trend:- Bullish Resistance:- 3650, 3890 Support:- 3450, 3150 Strategy:- Buy on dips CHANA WEEKLY
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JEERA WEEKLY PIVOT SCRIPT JEERA
R4 17185
R3 16505
R2 15825
R1 15511
P 15145
S1 14831
S2 14465
S3 13785
S4 13105
OUTLOOK Trend:- Consolidate Resistance:- 16200, 16700 Support:- 15200, 14600 Strategy:- Sell on high JEERA WEEKLY
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PEPPER WEEKLY PIVOT SCRIPT PEPPER
R4 42137
R3 39762
R2 37387
R1 36508
P 33012
S1 34133
S2 32637
S3 30262
S4 27887
OUTLOOK Trend:- Bullish Resistance:- 36500, 39760 Support:- 33400, 30900 Strategy:- Buy on dips PEPPER WEEKLY
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TURMERIC WEEKLY PIVOT SCRIPT TURMERIC
R4 7850
R3 7000
R2 6150
R1 5600
P 5300
S1 4750
S2 4450
S3 3600
S4 2750
OUTLOOK Trend:- Bearish Resistance:- 4900, 5300 Support:- 4450, 3900 Strategy:- Sell on high TURMERIC WEEKLY
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