Weekly Newsletter-Agri Commodity

23/12/2013

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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 futures (Jan) marginally came down in this week due to weak activity at sport market. Chana prices went down by 0.1 per cent and closed at 3071level. Chana futures (Jan) is expected to remain below 3060 levels due to factors such as availability of cheap imported Chana and slack buying at the spot markets.

DHANIYA
Dhaniya futures skyrocketed as shortage in supply made traders to go on a buying spree. Dhaniya went up by 5.8 per cent (WoW) to close at 8610 level. Dhaniya prices may rise due to robust export demand and lower sowing rate in producing regions along with lower carry forward stocks in the physical markets.

JEERA
Jeera futures (Mar) prices may remain trapped in sideways to bearish zone as sowing is turning normal after weather disturbances in Gujarat and other states. Jeera futures for the month of March went marginally down by 0.3 per cent (WoW). Jeera is likely to trade on higher level, if it breaches the level of 13100.

TURMERIC
Turmeric futures came down by 2.0 per cent (w/w) and closed at 6404. Turmeric prices saw a huge upsurge last week in it & traders have started booking profit. Turmeric prices are expected to move up; however, profit booking at higher levels cannot be denied. Demand for Erode turmeric is declining in spot market.

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TECHNICAL VIEW
CHANA WEEKLY PIVOT
SCRIPT CHANA R4 3417 R3 3291 R2 3165 R1 3118 P 3039 S1 2992 S2 2913 S3 2787 S4 2661

OUTLOOK
Trend: Consolidate

Resistance: 3120, 3250 Support: Strategy: 2980, 2870 Sell On High CHANA WEEKLY

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DHANIYA WEEKLY PIVOT
SCRIPT DHANIYA R4 10288 R3 9671 R2 9054 R1 8832 P 8437 S1 8215 S2 7820 S3 7203 S4 6586

OUTLOOK
Trend: Consolidate

Resistance: 8850, 9150 Support: Strategy: 8200, 7820 Buy On Dips DHANIYA WEEKLY

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JEERA WEEKLY PIVOT
SCRIPT JEERA R4 14085 R3 13725 R2 13365 R1 13185 P 13005 S1 12825 S2 12645 S3 12285 S4 11925

OUTLOOK
Trend: Consolidate

Resistance: 13200, 13550 Support: Strategy: 12800, 12450 Buy On Dips JEERA WEEKLY

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TURMERIC WEEKLY PIVOT
SCRIPT TURMERIC R4 7741 R3 7289 R2 6837 R1 6620 P 6385 S1 6168 S2 5933 S3 5481 S4 5029

OUTLOOK
Trend: Consolidate

Resistance: 6650, 6900 Support: Strategy: 6100, 5820 Sell On High TURMERIC WEEKLY

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