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Weekly Newsletter Newsletter-Agri Agri Commodity 25/04/2011

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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 Arrivals of Chana are expected to be in full momentum during this month which would create good buying level at the physical markets Trend reversal is expected in the Chana futures as the buying activities are expected to prevail across the spot markets.

TURMERIC Stockists at the domestic mandi are not willing to offload their stocks at lower levels. Prices at the futures are quoting at lower levels than the spot prices. Price trend in the short term are likely to depend on the arrivals and demand from the overseas and domestic buyers.

JEERA Poor export demand from overseas is weighing on sentiments. However, overall production forecast is down by 10-25% Y/Y which might support the prices in medium to long term. Prices will also take cues from the sowing progress in Syria and Turkey the other major producers of Jeera in the long term.

PEPPER According to derivative analysis, prices are falling while volumes and open interest all rising. If prices are in a downtrend and open interest is on the rise, it means new money is coming into the market, showing aggressive new short selling. Vietnam pepper prices have improved a bit which is likely to support the prices here. However, prices are venerable to corrections for creating further buying in market.

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TECHNICAL VIEW CHANA WEEKLY PIVOT SCRIPT CHANA

R4 2531

R3 2469

R2 2407

R1 2371

P 2345

S1 2309

S2 2283

S3 2221

S4 2159

OUTLOOK Trend:- Bearish Resistance:- 2415 415, 2480 Support:- 2300, 2250 Strategy:- Sell on highs CHANA WEEKLY

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TURMERIC WEEKLY PIVOT SCRIPT TURMERIC

R4 10121

R3 9691

R2 9261

R1 9053

P 8831

S1 8623

S2 8401

S3 7971

S4 7541

OUTLOOK Trend:- Consolidate Resistance:- 9260 9260, 9700 Support:- 8400, 7950 Strategy:- Sell on Highs TURMERIC WEEKLY

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JEERA WEEKLY PIVOT SCRIPT JEERA

R4 17782

R3 16877

R2 15972

R1 15402

P 15067

S1 14497

S2 14162

S3 13257

S4 12352

OUTLOOK Trend:- Consolidate Resistance:- 15400 400, 16000 Support:- 14500,, 13900 Strategy:- Sell on Highs JEERA WEEKLY

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PEPPER WEEKLY PIVOT SCRIPT PEPPER

R4 33469

R3 31404

R2 29339

R1 28639

P 27274

S1 26574

S2 25209

S3 23144

S4 21079

OUTLOOK Trend:- Bullish Resistance:- 28650 28650, 29350 Support:- 26500,, 25200 Strategy:- Buy on dips PEPPER WEEKLY

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