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Weekly Newsletter-Agri Commodity 09/01/2012

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

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MARKET WRAP CHANA Chana ended up for second consecutive week on the back of extended buying owing to firm spot demand in the market. Chana prices are expected to continue uptrend though it will face stiff resistance at 3550 levels while low rains in southern states and production Gujarat will affect the prices as well.

GUARSEED Guar seed sizzled up this week after last week’s correction taking cues from its firm export demand in international market. Guar seed may extend uptrend in coming week though there can be a correction as international buyers are not placing orders at higher levels and wait for some correction.

JEERA Jeera ended down after two weeks of uptrend owing to fresh selling at higher levels and profit booking as there are reports of higher sowing. Jeera prices will be dependent on crop growth status in major producing regions as there are reports of higher sowing and its export and production reports from Spice board of India.

PEPPER Pepper ended down this week shredding 4.2% due to subdued demand outlook in the domestic market and weak exports demand as well Pepper prices will take cues from its domestic and international production reports and export demand coupled with arrivals in the domestic mandis.

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TECHNICAL VIEW CHANA WEEKLY PIVOT SCRIPT CHANA

R4 3867

R3 3711

R2 3555

R1 3494

P 3399

S1 3338

S2 3243

S3 3087

S4 2931

OUTLOOK Trend: - Consolidate Resistance: - 3300, 3540 Support: - 3360, 3250 Strategy: - Sell on high CHANA WEEKLY

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GUARSEED WEEKLY PIVOT SCRIPT GUARSEED

R4 10376

R3 9462

R2 8548

R1 8206

P 7634

S1 7292

S2 6720

S3 5806

S4 4892

OUTLOOK Trend: - Bullish Resistance: - 8000, 8690 Support: - 7470, 7050 Strategy: - Buy on dips GUARSEED WEEKLY

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JEERA WEEKLY PIVOT SCRIPT JEERA

R4 19951

R3 18676

R2 17401

R1 16550

P 16126

S1 15277

S2 14851

S3 13576

S4 12301

OUTLOOK Trend: - Consolidate Resistance: - 16400, 17000 Support: - 15300, 14500 Strategy: - Sell on high JEERA WEEKLY

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PEPPER WEEKLY PIVOT SCRIPT PEPPER

R4 38740

R3 36520

R2 34300

R1 33000

P 32080

S1 30780

S2 29860

S3 27640

S4 25420

OUTLOOK Trend: - Consolidate Resistance: - 33900, 34800 Support: - 30200, 28400 Strategy: - Sell on high PEPPER WEEKLY

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