Weekly Agri Commodity Report by www.capitalheight.com 08-08-2011 To 12-08-2011

MARKET WRAP FOR WEEKLY AGRI COMMODITY

CHANA

• Lower stocks of Chana with stockists are likely to support prices & reports of decline in the area sown under pulses till July 2011 will support prices.
• Chana futures are likely to trade sideways to up due to expectation of demand from the local buyers amidst seasonal demand.

TURMERIC

• In the medium term turmeric prices will take cues from the turmeric stocks at the domestic market and sowing progress of turmeric.
• Turmeric prices may trade down due to decline in the off takes from the local buyers. Price trend in the short term is likely to depend on distribution of rainfall in the growing areas and demand for the spice from domestic and overseas buyers.

JEERA

• Prices in the intraday are likely to sideways owing to lackluster trades at the domestic markets. Any fresh enquires from the local stockists and overseas buyers might control prices from falling sharply.
• Prices will take cues from the carryover stocks. This season carryover stocks are expected to remain at the lower side owing to lower production.

PEPPER

• Pepper futures in the intraday are expected to trade sideways to down due and will further take cues from arrivals in the mandi while festive demand may support the prices on the lower side.
• The exports are likely to pick up further and with stockists unwilling to sell at these levels, prices are likely to remain firm. Demand from North India remained moderately good.

TECHNICAL VIEWS

CHANA (JULY) VIEW

Trend: Consolidate | Strategy: Buy on Dips

R1- 3170, R2- 3250 | S1- 3030, S2- 2900

TURMERIC (JULY) VIEW

Trend: Consolidate | Strategy: Sell on High

R1- 7100, R2- 7350 | S1- 6250, S2- 6000

JEERA (JULY) VIEW

Trend: Consolidate | Strategy: Sell on High

R1- 15900, R2- 16400 | S1- 15000, S2- 14500

PEPPER (JULY) VIEW

Trend: Consolidate | Strategy: Sell on High

R1- 29400, R2- 30100 | S1- 28000, S2- 27500

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