Weekly Newsletter-Agri Commodity

26/11/2012

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Weekly News Letter-Agri

Contents
Market Wrap Chana Jeera Pepper Turmeric Technical Analysis Chana Jeera Pepper Turmeric

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MARKET WRAP
CHANA
Chana showed extreme downfall in the weekly trading session after failed attempts to advance higher. It ended lower by close to 10%. It had moved below its 200DMA last week which indicates weakness. It may show further downward movement in near term after some consolidation.

JEERA
Jeera continues to remain in consolidation phase since the last few weeks. It ended the weekly session with a gain of close to 1% at 14580. In the upcoming sessions some upward movement may be seen in the prices as there are reports of 10-20% fall in area covered under spice so far this year.

PEPPER
Pepper witnessed a sharp decline for the fourth consecutive weekly session shedding close to 1300 points following the breakout of crucial level. It showed slight recovery towards the end of week which may continue on expectation of increase in domestic demand in winter season or may fall further.

TURMERIC
Turmeric fell further weak to end lower by close to 4% at 5100, after it failed to inch higher on giving upside channel breakout due to adequate supply. It showed slight recovery as farmers refusal to sell at lower rates supported prices. Upward movement may be seen if it sustains at major support level.

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TECHNICAL VIEW
CHANA WEEKLY PIVOT
SCRIPT CHANA R4 5968 R3 5442 R2 4916 R1 4584 P 4390 S1 4059 S2 3864 S3 3338 S4 2812

OUTLOOK
Trend: Consolidate

Resistance: 4575, 5000 Support: Strategy: 3950, 3125 Sell On High CHANA WEEKLY

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JEERA WEEKLY PIVOT

SCRIPT JEERA R4 16520 R3 15890 R2 15260 R1 14920 P 14630 S1 14290 S2 14000 S3 13370 S4 12740

OUTLOOK
Trend: Consolidate

Resistance: 15570, 16025 Support: Strategy: 13980, 12600 Buy On Dips JEERA WEEKLY

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PEPPER WEEKLY PIVOT

SCRIPT PEPPER R4 47420 R3 44525 R2 41630 R1 39965 P 38735 S1 37070 S2 35840 S3 32945 S4 30050

OUTLOOK
Trend: Consolidate

Resistance: 40720, 43500 Support: Strategy: 35830, 32800 Sell On High PEPPER WEEKLY

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TURMERIC WEEKLY PIVOT

SCRIPT TURMERIC R4 6175 R3 5827 R2 5479 R1 5290 P 5131 S1 4942 S2 4784 S3 4435 S4 4087

OUTLOOK
Trend: Consolidate

Resistance: 5510, 5875 Support: Strategy: 4460, 3920 Sell On High TURMERIC WEEKLY

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