Weekly Newsletter AgriCommodity 21-10-2013 | Futures Contract | Stock Market

Weekly Newsletter-Agri Commodity

21/10/2013

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Weekly News Letter-Agri
Contents
Market Wrap Chana Dhaniya Jeera Turmeric Technical Analysis Chana Dhaniya Jeera Turmeric

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MARKET WRAP
CHANA
Chana has been in uptrend in last week but has discontinued its trend and is likely to go down. It has lost around 2.7 per cent on (WoW) and closed at 3083. Chana futures are expected to be range bound this week. There are sufficient stocks in the market and the area under the pulses is expected to rise this year.

DHANIYA
Dhaniya future prices nosedived by 4 per cent (w/w) and are expected to go further down if closes below 6540 level. Dhaniya has witnessed massive selling. Dhaniya nosedived amid sluggish demand as prices failed to sustain at higher levels. Dhaniya futures are expected to trade lower due to subdued demand.

JEERA
Jeera futures for November have been in downtrend and are expected to go further low from current levels amid higher stocks and good weather conditions. Jeera futures went down by 3.04 per cent on a weekly basis. Jeera futures were trading in a range in past few days but have given breakdown of support level.

TURMERIC
Turmeric futures went down by 3.0 per cent (w/w) and closed at 4798 levels. Turmeric seems to consolidating last week and is likely to move up from here. Turmeric futures went down initially and thereafter demand from North India as a result of festive season, seems to be providing buoyancy to the commodity.

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TECHNICAL VIEW
CHANA WEEKLY PIVOT
SCRIPT CHANA R4 3438 R3 3341 R2 3244 R1 3211 P 3147 S1 3114 S2 3050 S3 2953 S4 2856

OUTLOOK
Trend: Consolidate

Resistance: 3250, 3350 Support: Strategy: 3100, 2950 Sell On High CHANA WEEKLY

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DHANIYA WEEKLY PIVOT
SCRIPT DHANIYA R4 8682 R3 8060 R2 7438 R1 7087 P 6816 S1 6465 S2 6194 S3 5572 S4 4950

OUTLOOK
Trend: Consolidate

Resistance: 7100, 7500 Support: Strategy: 6450, 6050 Buy On Dips DHANIYA WEEKLY

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JEERA WEEKLY PIVOT
SCRIPT JEERA R4 14390 R3 13860 R2 13330 R1 12983 P 12800 S1 12453 S2 12270 S3 11740 S4 11210

OUTLOOK
Trend: Consolidate

Resistance: 13000, 13650 Support: Strategy: 12450, 12000 Sell On High JEERA WEEKLY

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TURMERIC WEEKLY PIVOT
SCRIPT TURMERIC R4 5686 R3 5390 R2 5094 R1 4946 P 4798 S1 4650 S2 4502 S3 4206 S4 3910

OUTLOOK
Trend: Consolidate

Resistance: 4950, 5350 Support: Strategy: 4600, 4450 Buy On Dips TURMERIC WEEKLY

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