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Weekly Newsletter27/09/2010
Newsletter-Agri Commodity
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Commodity
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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
Chana demand turns robust amid weak supply due to heavy rains in north
India
Chana futures recover towards the end of the week due to value buying at
lower levels ahead of the festive season.
Short covering also helps Chana recover.
TURMERIC
Fundamentally, turmeric remains strong ahead of the festive season as
traders expect a good demand soon.
The bullishness in turmeric is also supported by increasing volume so we can
expect it to remain bullish in short term.
JEERA
Higher sowing of Jeera is reported due good rains in major parts of India.
Jeera is quoted at a premium as the off take remains high as compared to the
reduced supply with a difference of 2000 bags at Unjha mandi.
PEPPER
Sluggish overseas demand and continued profit booking weighs heavy on
pepper prices during the week.
Festive season in India and China likely to spice up the prices in the coming
months.
TECHNICAL
WEEKLY PIVOT
SCRIPT R4 R3 R2
CHANA 2566 2454 2342
OUTLOOK
Trend: - Bullish
Resistance: - 2270
Support: - 2175, 2130
Strategy: - Buy on dips
ECHNICAL VIEW
CHANA
R2 R1 P S1 S2
2342 2297 2230 2185 2118
270, 2380
2130
Buy on dips
CHANA WEEKLY
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S3 S4
2006 1894
WEEKLY PIVOT
SCRIPT R4 R3
TURMERIC 18865 17033
OUTLOOK
Trend: - Bullish
Resistance:- 13380
Support:- 12110, 11260
Strategy: - Buy on dips
TURMERIC
R2 R1 P S1 S2
15201 14567 13369 12735 11537
3380, 13950
, 11260
Buy on dips
TURMERIC WEEKLY
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S3 S4
9705 7873
WEEKLY PIVOT
SCRIPT R4 R3 R2
JEERA 15948 15194 14440
OUTLOOK
Trend:- Consolidate
Resistance:- 14170, 14
Support: - 13600, 13
Strategy:- Buy on dips
JEERA
R2 R1 P S1 S2
14440 14145 13686 13391 12932 12178
Consolidate
70, 14470
, 13265
Buy on dips
JEERA WEEKLY
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S3 S4
12178 11424
WEEKLY PIVOT
SCRIPT R4 R3 R2
PEPPER 24161 22663 21165
OUTLOOK
Trend:- Consolidate
Resistance:- 20330
Support: - 19150, 18675
Strategy:- Sell on highs
PEPPER
R2 R1 P S1 S2
21165 20357 19667 18859 18169
Consolidate
20330, 22900
, 18675
Sell on highs
PEPPER WEEKLY
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S3 S4
16671 15173
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