Weekly Newsletter18/10/2010
Newsletter-Agri Commodity
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Contents
Market Wrap
Chana
Turmeric
Jeera
Pepper
Technical Analysis
Chana
Turmeric
Jeera
Pepper
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MARKET WRAP
CHANA
Better crop prospects of kariff pulses as well as imports from other major
producing countries can improve supply in pulses.
Despite the weakness, prices are likely to rise in the short-term due to higher
demand during the festivals and upcoming wedding season.
NCDEX accredited warehouses chana stocks fell 117 tn to 35456 tn.
TURMERIC
Lower ending stocks of turmeric will help prices to find support in the short
term if demand revives in the near term ahead of festivals.
Turmeric production is expected to be better and is projected at 67-69 lakh
bags as compared 48 lakh bags during the previous year.
JEERA
There are lower stocks of jeera in the domestic market till the fresh arrivals
expected. This will also add to the gains in the short to medium term.
Export demand is not encouraging. But any improvement in export demand
may push the prices up.
PEPPER
Pepper has been volatile due to strong demand outlook for festivities and
partly due to some speculation.
Export demand may rise as the international market remains skeptical about
the falling stocks at key growers like Vietnam & Indonesia.
TECHNICAL
WEEKLY PIVOT
SCRIPT R4 R3 R2
CHANA 2537 2458 2379
OUTLOOK
Trend:- Consolidate
Resistance:- 2255, 2305
Support:- 2130, 2090
Strategy:- Buy on dips
ECHNICAL VIEW
CHANA
R2 R1 P S1 S2
2379 2350 2300 2271 2221
Consolidate
2255, 2305
2130, 2090
Buy on dips
CHANA WEEKLY
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S3 S4
2142 2063
WEEKLY PIVOT
SCRIPT R4 R3
TURMERIC 17679 16829
OUTLOOK
Trend:- Bullish
Resistance:- 15480, 16030
Support:- 14750, 13900
Strategy:- Buy on dips
TURMERIC
R2 R1 P S1 S2
15979 15629 15129 14779 14279
15480, 16030
14750, 13900
Buy on dips
TURMERIC WEEKLY
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S3 S4
13429 12579
WEEKLY PIVOT
SCRIPT R4 R3 R2
JEERA 14456 13926 13396
OUTLOOK
Trend:- Bearish
Resistance:- 13170, 13800
Support:- 112510, 12230
Strategy:- Sell on highs
JEERA
R2 R1 P S1 S2
13396 13096 12866 12566 12336
13170, 13800
12510, 12230
Sell on highs
JEERA WEEKLY
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S3 S4
11806 11276
WEEKLY PIVOT
SCRIPT R4 R3 R2
PEPPER 20109 19517 18925
OUTLOOK
Trend:- Bearish
Resistance:- 18930, 19600
Support:- 17970, 17380
Strategy:- Sell on highs
PEPPER
R2 R1 P S1 S2
18925 18625 18333 18033 17741
18930, 19600
17970, 17380
Sell on highs
PEPPER WEEKLY
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S3 S4
17149 16557
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