Weekly Newsletter-Agri Commodity 05/12/2011
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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 ended in red for second consecutive week on the back of fresh selling at higher levels and profit booking. Chana prices will take cues from its reports on acreage and arrivals in the market while higher acreage reports from Rajasthan and UP may further add pressure in coming week.
GUARSEED Guarseed ended up for 3rd week making a fresh all time high of 5515 due to lower output and execrated higher demand in the near term. Guarseed prices may further extend uptrend as its export demand is firm and lower output in Rajasthan and expected drop in production in Haryana and Gujarat though prices may witness an overdue correction
JEERA Jeera ended down after two weeks of relief rally due to fresh selling at high level amid poor demand in the spot, also, better output this season. Jeera prices will take cues from its sowing progress in Gujarat & Rajasthan and weather conditions as well though higher arrival will prompt further selling
PEPPER Pepper edged up gaining marginally as investors booked profits on high level as traders are in a cautious tone despite its thin supply concerns. Pepper prices will take cues from its export demand in the international market against Vietnam and Indonesia and also its arrivals in the market though any news of thin supply will support prices at lower levels.
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TECHNICAL VIEW CHANA WEEKLY PIVOT SCRIPT CHANA
R4 4118
R3 3781
R2 3444
R1 3237
P 3107
S1 2900
S2 2770
S3 2433
S4 2096
OUTLOOK Trend: - Consolidate Resistance: - 3380, 3500 Support: - 3150, 2900 Strategy: - Sell on high CHANA WEEKLY
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GUARSEED WEEKLY PIVOT SCRIPT GUARSEED
R4 7053
R3 6458
R2 5863
R1 5615
P 5268
S1 5020
S2 4673
S3 4078
S4 3483
OUTLOOK Trend: - Bullish Resistance: - 5550, 5860 Support: - 5150, 5000 Strategy: - Buy on dips GUARSEED WEEKLY
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JEERA WEEKLY PIVOT SCRIPT JEERA
R4 16277
R3 15314
R2 14351
R1 13766
P 13388
S1 12803
S2 12425
S3 11462
S4 10499
OUTLOOK Trend: - Consolidate Resistance: - 13500, 13900 Support: - 12750, 12400 Strategy: - Sell on high JEERA WEEKLY
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PEPPER WEEKLY PIVOT SCRIPT PEPPER
R4 40373
R3 38683
R2 36993
R1 36072
P 35303
S1 34382
S2 33613
S3 31923
S4 30233
OUTLOOK Trend: - Consolidate Resistance: - 36250, 37300 Support: - 34300, 32400 Strategy: - Buy on dips PEPPER WEEKLY
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