Weekly Newsletter-Agri Commodity 19/12/2011
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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 retreated for second consecutive week due to buying at lower levels on report of lower acreage in major producing regions. Chana prices will take cues from further reports of acreage from Maharashtra and Andhra Pradesh while unfavorable weather conditions coupled with lower output will support prices in coming week.
GUARSEED Guar seed ended up but witnessed profit booking in later part of the week by speculators though made a fresh all time high of 6955. Guar seed trend is now a bit cautious as the arrival season is ongoing in the domestic market and there is a due correction though any news of lower arrivals can extend the upward momentum as its export demand is firm.
JEERA Jeera ended for second consecutive week on fresh buying at lower levels on reports of fresh enquiries overseas buyers and demand from local buyers. Jeera prices will be dependent on crop growth status in major producing regions coupled with their weather conditions.
PEPPER Pepper is continuing its upward momentum due to demand from local stockists amid lower arrivals and limited stocks available. Pepper prices will take cues from its domestic and international production reports, specifically from Vietnam and Indian pepper price competitiveness in the international market. Any news of lower output will support prices to continue upward momentum.
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TECHNICAL VIEW CHANA WEEKLY PIVOT SCRIPT CHANA
R4 4076
R3 3822
R2 3568
R1 3475
P 3314
S1 3221
S2 3060
S3 2806
S4 2552
OUTLOOK Trend: - Consolidate Resistance: - 3490, 3610 Support: - 3290, 3150 Strategy: - Sell on high CHANA WEEKLY
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GUARSEED WEEKLY PIVOT SCRIPT GUARSEED
R4 9847
R3 8674
R2 7501
R1 6874
P 6328
S1 5701
S2 5155
S3 3982
S4 2809
OUTLOOK Trend: - Consolidate Resistance: - 6460, 6800 Support: - 5950, 5480 Strategy: - Buy on dips GUARSEED WEEKLY
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JEERA WEEKLY PIVOT SCRIPT JEERA
R4 16853
R3 15943
R2 15033
R1 14657
P 14123
S1 13747
S2 13213
S3 12303
S4 11393
OUTLOOK Trend: - Consolidate Resistance: - 14500, 14900 Support: - 13600, 13200 Strategy: - Sell on high JEERA WEEKLY
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PEPPER WEEKLY PIVOT SCRIPT PEPPER
R4 39440
R3 38110
R2 36780
R1 36240
P 35450
S1 34910
S2 34120
S3 32790
S4 31460
OUTLOOK Trend: - Consolidate Resistance: - 36700, 37800 Support: - 34300, 32400 Strategy: - Buy on dips PEPPER WEEKLY
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