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Weekly Newsletter-Agri Commodity 02/01/2012

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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 rebounded and ended up on the back of fresh buying owing to reports and lower sowing progress and acreage coupled with bad weather conditions Chana prices will take cues from reports of acreage from MH and AP and weather conditions while lower output estimates may support prices in the coming week.

GUARSEED Guar seed ended down after six weeks of uptrend due to profit booking at higher levels and additional 10% margin on all long positions. Guar seed trend is overdue for a correction and it is in a cautious territory and there is speculation in prices due to its estimated production. Though higher production may trigger further profit booking.

JEERA Jeera sizzled up for fourth consecutive week as it made a fresh quarterly high of 16324 this week gaining 2.4% owing to firm export demand and limited stock in the domestic market. Jeera prices will be dependent on crop growth status in major producing regions and its outlook on export demand and it may continue uptrend in coming week.

PEPPER Pepper rebounded this week and ended up marginally due to short covering at lower levels and supply side concerns. Pepper prices will take cues from its domestic and international production reports and arrivals in the domestic mandis.

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TECHNICAL VIEW CHANA WEEKLY PIVOT SCRIPT CHANA

R4 3864

R3 3677

R2 3490

R1 3416

P 3303

S1 3229

S2 3116

S3 2929

S4 2742

OUTLOOK Trend: - Consolidate Resistance: - 3450, 3650 Support: - 3290, 3090 Strategy: - Sell on high CHANA WEEKLY

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GUARSEED WEEKLY PIVOT SCRIPT GUARSEED

R4 9500

R3 8696

R2 7882

R1 7475

P 7073

S1 6666

S2 6264

S3 5455

S4 4646

OUTLOOK Trend: - Bullish Resistance: - 7400, 7770 Support: - 6800, 6350 Strategy: - Buy on dips GUARSEED WEEKLY

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JEERA WEEKLY PIVOT SCRIPT JEERA

R4 18953

R3 17929

R2 16905

R1 16463

P 15881

S1 15439

S2 14857

S3 13833

S4 12809

OUTLOOK Trend: - Consolidate Resistance: - 16400, 17000 Support: - 15500, 15100 Strategy: - Buy on dips JEERA WEEKLY

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PEPPER WEEKLY PIVOT SCRIPT PEPPER

R4 38420

R3 36680

R2 34940

R1 34000

P 33200

S1 32260

S2 31460

S3 29720

S4 27980

OUTLOOK Trend: - Consolidate Resistance: - 33900, 34800 Support: - 31600, 30700 Strategy: - Sell on high PEPPER WEEKLY

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