weekly agricommodity report
DESCRIPTION
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Weekly Newsletter01/08/2011
Weekly Newsletter-Agri Commodity
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Contents
Market Wrap
Chana
Turmeric
Jeera
Pepper
Technical Analysis
Chana
Turmeric
Jeera
Pepper
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MARKET WRAP
CHANA Demand for Chana usually goes up during Ramadan, a holy Muslim festival
beginning in August.
Chana futures are likely to trade sideways to up due to expectation of
demand from the local buyers amidst reduced arrivals in the domestic market.
TURMERIC
Turmeric prices may trade down due to decline in the off takes from the local
buyers. Price trend in the short term is likely to depend on distribution of
rainfall in the growing areas and demand for the spice from domestic and
overseas buyers.
In the medium term turmeric prices will take cues from the turmeric stocks at
the domestic market and sowing progress of turmeric.
JEERA
Prices in the intraday are likely to sideways owing to lackluster trades at the
domestic markets. Any fresh enquires from the local stockists and overseas
buyers might control prices from falling sharply.
Prices will take cues from the carryover stocks. This season carryover stocks
are expected to remain at the lower side owing to lower production.
PEPPER
Pepper futures in the intraday are expected to trade sideways to up due to
lower arrivals in the domestic mandi. Demand from the domestic buyers
ahead of festivals might keep prices supported in the short term.
The exports are likely to pick up further and with stockists unwilling to sell at
these levels, prices are likely to remain firm. Demand from North India
remained moderately good.
TECHNICAL
WEEKLY PIVOT
SCRIPT R4 R3 R2
CHANA 3505 3376 3247
OUTLOOK
Trend:- Bullish
Resistance:- 3250
Support:- 3060, 2860
Strategy:- Buy on dips
capi
ECHNICAL VIEW
CHANA
R2 R1 P S1 S2
3247 3204 3118 3075 2989
3250, 3380
2860
Buy on dips
CHANA WEEKLY
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WEEKLY PIVOT
SCRIPT R4 R3
TURMERIC 9176 8572
OUTLOOK
Trend:- Consolidate
Resistance:- 7900
Support:- 6760, 6
Strategy:- Sell on high
capi
TURMERIC
R2 R1 P S1 S2
7968 7620 7364 7016 6760
Consolidate
7900, 8350
6160
Sell on high
TURMERIC WEEKLY
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WEEKLY PIVOT
SCRIPT R4 R3 R2
JEERA 20335 18944 17553
OUTLOOK
Trend:- Consolidate
Resistance:- 16400
Support:- 15400,
Strategy:- Buy on dips
capi
JEERA
R2 R1 P S1 S2
17553 16766 16162 15375 14771
Consolidate
6400, 17000
, 14800
Buy on dips
JEERA WEEKLY
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13380 11989
WEEKLY PIVOT
SCRIPT R4 R3 R2
PEPPER 33278 31996 30714
OUTLOOK
Trend:- Consolidate
Resistance:- 30700
Support:- 28500,
Strategy:- Buy on dips
capi
PEPPER
R2 R1 P S1 S2
30714 30025 29432 28743 28150
Consolidate
30700, 31500
, 27200
Buy on dips
PEPPER WEEKLY
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