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Weekly Newsletter-Agri Commodity 17/10/2011

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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 consolidated this week with trivial losses after two weeks of sell off as profit booking at higher levels due to subdued demand is capping its upside. Prices of Chana will take cues from producing estimates in crucial regions and arrivals in the market though higher arrival can pressurize prices further.

JEERA Jeera ended down this week on the back of fresh selling and profit booking as the domestic & export demand outlook is sluggish amid ample supply. Jeera prices will be dependent on arrivals in the market and production estimates by Spice board of India and its export demand in the near term.

PEPPER Pepper ended up for second consecutive week though its upside was limited due to profit booking at higher level as traders have turned cautious to its overall bullish trend amid less triggers.. Pepper prices in coming week will continue its uptrend due to ongoing festivals while low stocks, lower global production, and rising export demand will keep the uptrend firm.

TURMERIC Turmeric ended down after two weeks’ of uptrend shredding its gains on the back of profit booking and fresh selling due to higher arrivals and subdued demand in the near term. Turmeric prices will take cues from production estimates in the medium term while arrivals in the market will also play a crucial role though any news of higher arrivals/production estimates will turn prices in downtrend.

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TECHNICAL VIEW CHANA WEEKLY PIVOT SCRIPT CHANA

R4 4017

R3 3692

R2 3367

R1 3183

P 3042

S1 2858

S2 2717

S3 2392

S4 2067

OUTLOOK Trend: - Consolidate Resistance: - 3100, 3250 Support: - 2900, 2750 Strategy: - Sell on high CHANA WEEKLY

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JEERA WEEKLY PIVOT SCRIPT JEERA

R4 15807

R3 15357

R2 14907

R1 14633

P 14457

S1 14183

S2 14007

S3 13557

S4 13107

OUTLOOK Trend: - Consolidate Resistance: - 14850, 15200 Support: - 14050, 13400 Strategy: - Sell on high JEERA WEEKLY

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PEPPER WEEKLY PIVOT SCRIPT PEPPER

R4 39183

R3 38263

R2 37343

R1 36847

P 36423

S1 35927

S2 35503

S3 34583

S4 33663

OUTLOOK Trend: - Bullish Resistance: - 37200, 39300 Support: - 35100, 32800 Strategy: - Buy on dips PEPPER WEEKLY

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TURMERIC WEEKLY PIVOT SCRIPT TURMERIC

R4 7063

R3 6483

R2 5903

R1 5577

P 5323

S1 4997

S2 4743

S3 4163

S4 3583

OUTLOOK Trend: - Consolidate Resistance: - 5650, 5900 Support: - 4900, 4650 Strategy: - Sell on high TURMERIC WEEKLY

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Weekly AgriCommodity Report