Weekly Agri Commodity Report by www.capitalheight.com 05-12-11 TO 08-12-2011

MARKET WRAP FOR WEEKLY AGRI COMMODITY

CHANA

·         Chana ended in red for second consecutive week on the back of fresh selling at higher levels and profit booking.

·         Chana prices will take cues from its reports on acreage and arrivals in the market while higher acreage reports from Rajasthan and UP may further add pressure in coming week.

GUARSEED

·         Guarseed ended up for 3^rd week making a fresh all time high of 5515 due to lower output and execrated higher demand in the near term.

·         Guarseed prices may further extend uptrend as its export demand is firm and lower output in Rajasthan and expected drop in production in Haryana and Gujarat though prices may witness an overdue correction

JEERA

·         Jeera ended down after two weeks of relief rally due to fresh selling at high level amid poor demand in the spot, also, better output this season.

·         Jeera prices will take cues from its sowing progress in Gujarat & Rajasthan and weather conditions as well though higher arrival will prompt further selling

PEPPER

·         Pepper edged up gaining marginally as investors booked profits on high level as traders are in a cautious tone despite its thin supply concerns.

·         Pepper prices will take cues from its export demand in the international market against Vietnam and Indonesia and also its arrivals in the market though any news of thin supply will support prices at lower levels. 

Technical Views

CHANA VIEW

Trend: Consolidate | Strategy: Sell On High

R1- 3380, R2- 3500 | S1- 3150, S2- 2900

GUARSEED VIEW

Trend: Bullish | Strategy: Buy On Dips

R1- 5550, R2- 5860 | S1- 5150, S2- 5000

JEERA VIEW

Trend: Consolidate | Strategy: Sell on High

R1- 13500, R2- 13900 | S1- 12750, S2- 12400

PEPPER VIEW

Trend: Consolidate | Strategy: Buy On Dips

R1- 36250, R2- 37300 | S1- 34300, S2- 32400

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