Weekly Newsletter-Agri Commodity 21/11/2011
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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 up after last week’s profit booking on the back of renewed fresh buying at lower and rising demand while lower supply concern still persists. Chana prices may extend uptrend and may test its all time high in coming week due to lower production estimates by government amid lower arrivals from fresh crops.
JEERA Jeera rebounded after three week’s of sell off due to short covering and fresh buying by traders at lower levels of 13K as its demand is expected to rise in near term in the overseas market.
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Jeera prices may see further short covering and fresh buying to retrace back though any news of sluggish demand in the international market an higher arrivals will pressurize the prices.
PEPPER Pepper ended in green for second consecutive week after its correction in last month as limited stocks and better demand in the near term kept prices firm. Pepper prices will take cues from its export demand in the near term as prices in the international market though lower arrivals will keep the positive momentum in the prices.
TURMERIC Turmeric ended in the red despite making a fresh monthly high of 5770 but ended down due to fresh selling at higher levels. Turmeric prices may witness consolidation as its demand in the domestic market is sluggish and higher arrivals in the market from fresh crop will also pressurize the prices. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CHANA WEEKLY PIVOT SCRIPT CHANA
R4 4261
R3 4018
R2 3775
R1 3685
P 3532
S1 3442
S2 3289
S3 3046
S4 2803
OUTLOOK Trend: - Bullish Resistance: - 3700, 4020 Support: - 3380, 3170 Strategy: - Buy on dips CHANA WEEKLY
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JEERA WEEKLY PIVOT SCRIPT JEERA
R4 15137
R3 14601
R2 14065
R1 13878
P 13529
S1 13342
S2 12993
S3 12457
S4 11921
OUTLOOK Trend: - Consolidate Resistance: - 14100, 14800 Support: - 13050, 12400 Strategy: - Sell on high JEERA WEEKLY
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PEPPER WEEKLY PIVOT SCRIPT PEPPER
R4 38450
R3 37100
R2 35750
R1 35275
P 34400
S1 33925
S2 33050
S3 31700
S4 30350
OUTLOOK Trend: - Consolidate Resistance: - 35600, 36900 Support: - 33500, 32400 Strategy: - Buy on dips PEPPER WEEKLY
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TURMERIC WEEKLY PIVOT SCRIPT TURMERIC
R4 8421
R3 7307
R2 6193
R1 5503
P 5079
S1 4389
S2 3965
S3 2851
S4 1737
OUTLOOK Trend: - Consolidate Resistance: - 5150, 5450 Support: - 4630, 4240 Strategy: - Sell on high TURMERIC WEEKLY
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