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Weekly Newsletter Newsletter-Agri Commodity

11/10/2010

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

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MARKET WRAP
CHANA
The retrieval of monsoon over the major growing areas of Madhya Pradesh will support the land preparation activities for good sowing in chana. Local demand is expected to improve ahead of the festivals & marriage season. Demand for Chana has improved in the past week however, weakness in other Pulses is capping the gains at higher levels.

TURMERIC
Turmeric prices continued to trade higher as farmers are not releasing the stocks due to lower prices. Demand from domestic & overseas buyers will also determine the price trend. NCDEX accredited warehouses turmeric stocks fell 40 tonnes to 4393 tonnes.

JEERA
Sowing of Jeera is expected to commence in next week, which is also pressurizing the prices of Jeera for short term. Selling pressure has increased in the spot market on likelihood of further fall in the prices.

PEPPER
In medium to long term prices will depend on the stocks of pepper with the major suppliers particularly Vietnam, Indonesia and India. Domestic market thrived with supply while overseas demand remained down for pepper.

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TECHNICAL VIEW
CHANA WEEKLY PIVOT
SCRIPT CHANA R4 2504 R3 2429 R2 2354 R1 2318 P 2279 S1 2243 S2 2204 S3 2129 S4 2054

OUTLOOK
Trend:- Consolidate Resistance:- 2215 2260 2215, Support:- 2095, 2040 Strategy:- Buy on dips CHANA WEEKLY

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TURMERIC WEEKLY PIVOT
SCRIPT TURMERIC R4 17762 R3 16660 R2 15558 R1 15104 P 14456 S1 14002 S2 13354 S3 12252 S4 11150

OUTLOOK
Trend:- Bullish Resistance:- 15250, 16030 Support:- 13970, 13160 Strategy:- Buy on dips TURMERIC WEEKLY

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JEERA WEEKLY PIVOT
SCRIPT JEERA R4 15343 R3 14582 R2 13821 R1 13386 P 13060 S1 12625 S2 12299 S3 11538 S4 10777

OUTLOOK
Trend:- Bearish Resistance:- 13510, 14240 Support:- 12510, 11980 Strategy:- Sell on highs JEERA WEEKLY

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PEPPER WEEKLY PIVOT
SCRIPT PEPPER R4 21677 R3 20662 R2 19647 R1 18998 P 18632 S1 17983 S2 17617 S3 16602 S4 15587

OUTLOOK
Trend:- Bearish Resistance:- 19280, 19700 Support:- 17965, 17320 Strategy:- Sell on highs PEPPER WEEKLY

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