Weekly Newsletter-Agri Commodity 02/01/2012
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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 rebounded and ended up on the back of fresh buying owing to reports and lower sowing progress and acreage coupled with bad weather conditions Chana prices will take cues from reports of acreage from MH and AP and weather conditions while lower output estimates may support prices in the coming week.
GUARSEED Guar seed ended down after six weeks of uptrend due to profit booking at higher levels and additional 10% margin on all long positions. Guar seed trend is overdue for a correction and it is in a cautious territory and there is speculation in prices due to its estimated production. Though higher production may trigger further profit booking.
JEERA Jeera sizzled up for fourth consecutive week as it made a fresh quarterly high of 16324 this week gaining 2.4% owing to firm export demand and limited stock in the domestic market. Jeera prices will be dependent on crop growth status in major producing regions and its outlook on export demand and it may continue uptrend in coming week.
PEPPER Pepper rebounded this week and ended up marginally due to short covering at lower levels and supply side concerns. Pepper prices will take cues from its domestic and international production reports and arrivals in the domestic mandis.
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TECHNICAL VIEW CHANA WEEKLY PIVOT SCRIPT CHANA
R4 3864
R3 3677
R2 3490
R1 3416
P 3303
S1 3229
S2 3116
S3 2929
S4 2742
OUTLOOK Trend: - Consolidate Resistance: - 3450, 3650 Support: - 3290, 3090 Strategy: - Sell on high CHANA WEEKLY
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GUARSEED WEEKLY PIVOT SCRIPT GUARSEED
R4 9500
R3 8696
R2 7882
R1 7475
P 7073
S1 6666
S2 6264
S3 5455
S4 4646
OUTLOOK Trend: - Bullish Resistance: - 7400, 7770 Support: - 6800, 6350 Strategy: - Buy on dips GUARSEED WEEKLY
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JEERA WEEKLY PIVOT SCRIPT JEERA
R4 18953
R3 17929
R2 16905
R1 16463
P 15881
S1 15439
S2 14857
S3 13833
S4 12809
OUTLOOK Trend: - Consolidate Resistance: - 16400, 17000 Support: - 15500, 15100 Strategy: - Buy on dips JEERA WEEKLY
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PEPPER WEEKLY PIVOT SCRIPT PEPPER
R4 38420
R3 36680
R2 34940
R1 34000
P 33200
S1 32260
S2 31460
S3 29720
S4 27980
OUTLOOK Trend: - Consolidate Resistance: - 33900, 34800 Support: - 31600, 30700 Strategy: - Sell on high PEPPER WEEKLY
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