Weekly Newsletter-Agri Commodity 11/06/2012
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Weekly News Letter-Agri Contents Market Wrap Chana Jeera Pepper Turmeric Technical Analysis Chana Jeera Pepper Turmeric
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MARKET WRAP CHANA Chana consolidates majorly between 4050 and 4200 in the previous week. It traded with a bearish bias but good spot demand has supported prices. A bearish trend is expected in the upcoming week as bearish divergence is still there which is mentioned in the previous report. It may falls to 3800 level.
JEERA Jeera traded in a sideways trend with bearish bias due to decrease in domestic and export demand. Prices closed below 13000 level. Jeera has strong monthly support near 12700.Thin supply also support the prices. We expect a hike in Jeera prices but below 12700 prices may go down.
PEPPER Pepper gains nearly 1.8% during the previous week. Prices bounced from its support zone near 38000 and closed high at 39535. We expect a bullish trend in Pepper in the upcoming week. It may touch its next resistance of 40500 till the closing of the week.
TURMERIC As mentioned in the previous report Turmeric has touched its tweezers bottom and then prices bounced and closed high at 3688. Turmeric prices will now recover from this level in the upcoming week. It may touch 4100 level. Increase in domestic demand will support the prices.
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TECHNICAL VIEW CHANA WEEKLY PIVOT SCRIPT CHANA
R4 4829
R3 4602
R2 4375
R1 4254
P 4148
S1 4027
S2 3921
S3 3694
S4 3467
OUTLOOK Trend:
Bearish
Resistance: 4350, 4850 Support:
3900, 3450
Strategy:
Sell on high CHANA WEEKLY
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JEERA WEEKLY PIVOT SCRIPT JEERA
R4 14570
R3 14040
R2 13510
R1 13200
P 12980
S1 12670
S2 12450
S3 11920
S4 11390
OUTLOOK Trend:
Consolidate
Resistance: 13500, 14600 Support:
12400, 11400
Strategy:
Buy on dips JEERA WEEKLY
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PEPPER WEEKLY PIVOT SCRIPT PEPPER
R4 44000
R3 42400
R2 40750
R1 40100
P 39150
S1 38500
S2 37500
S3 35850
S4 34250
OUTLOOK Trend:
Consolidate
Resistance: 40500, 44000 Support:
37500, 34000
Strategy:
Buy on dips PEPPER WEEKLY
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TURMERIC WEEKLY PIVOT SCRIPT TURMERIC
R4 4415
R3 4155
R2 3895
R1 3785
P 3635
S1 3520
S2 3375
S3 3115
S4 2855
OUTLOOK Trend:
Consolidate
Resistance: 3900, 4400 Support:
3400, 2900
Strategy:
Buy on dips TURMERIC WEEKLY
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