Slide 1: Weekly Newsletter-Agri Commodity
28/11/2011
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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 down for second consecutive week due to profit booking at higher levels and higher sowing in major producing regions like Maharashtra. Chana prices will take cues from its sowing progress in major producing regions as well as its demand in the domestic market in the near term.
GUARSEED
Guarseed ended up for 3rd week making a fresh all time high of 5109 due to firm demand outlook in the near term and limited stocks availability. Guarseed prices may extend uptrend in coming weeks on the back of strong export demand and lower stocks availability amid winter season though any news of higher arrival may trigger some profit booking at higher levels.
JEERA
Jeera ended a bit up this week after last week of rebound due to fresh selling amid sluggish domestic and international demand in near term. Jeera prices will take cues from its sowing progress in major producing regions and any news of higher sowing may further pressurize prices as spices overall demand is negative in near term.
PEPPER
Pepper ended marginally up this week due to profit booking at higher levels after three weeks of uptrend due to higher arrivals in market & lower off takes. Pepper prices will take cues from its demand outlook in the domestic and international market and higher arrivals in coming weeks may pressurize prices though its competitive prices in the international market against Vietnam and Indonesia may support prices at lower levels.
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TECHNICAL VIEW
CHANA WEEKLY PIVOT
SCRIPT CHANA R4 4399 R3 4054 R2 3709 R1 3494 P 3364 S1 3149 S2 3019 S3 2674 S4 2329
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 6907 R3 6223 R2 5539 R1 5284 P 4855 S1 4600 S2 4171 S3 3487 S4 2803
OUTLOOK
Trend: - Bullish Resistance: - 5280, 5450 Support: - 4830, 4600 Strategy: - Buy on dips GUARSEED WEEKLY
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JEERA WEEKLY PIVOT
SCRIPT JEERA R4 15928 R3 15217 R2 14506 R1 14103 P 13795 S1 1392 S2 13084 S3 12373 S4 11662
OUTLOOK
Trend: - Consolidate Resistance: - 14100, 14500 Support: - 13400, 13000 Strategy: - Sell on high JEERA WEEKLY
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PEPPER WEEKLY PIVOT
SCRIPT PEPPER R4 38482 R3 37257 R2 36032 R1 35468 P 34807 S1 34243 S2 33582 S3 32357 S4 31132
OUTLOOK
Trend: - Consolidate Resistance: - 35600, 36900 Support: - 33500, 32400 Strategy: - Buy on dips PEPPER WEEKLY
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