Weekly Agri Commodity Report by www.capitalheight.com 02-01-2012 to 06-12-2012

MARKET WRAP FOR WEEKLY AGRI COMMODITY

CHANA

·         Chana rebounded and ended up on the back of fresh buying owing to reports and lower sowing progress and acreage coupled with bad weather conditions

·         Chana prices will take cues from reports of acreage from MH and AP and weather conditions while lower output estimates may support prices in the coming week.

GUARSEED

·         Guar seed ended down after six weeks of uptrend due to profit booking at higher levels and additional 10% margin on all long positions.

·         Guar seed trend is overdue for a correction and it is in a cautious territory and there is speculation in prices due to its estimated production. Though higher production may trigger further profit booking.

JEERA

·         Jeera sizzled up for fourth consecutive week as it made a fresh quarterly high of 16324 this week gaining 2.4% owing to firm export demand and limited stock in the domestic market.

·         Jeera prices will be dependent on crop growth status in major producing regions and its outlook on export demand and it may continue uptrend in coming week.

PEPPER

·         Pepper rebounded this week and ended up marginally due to short covering at lower levels and supply side concerns.

·         Pepper prices will take cues from its domestic and international production reports and arrivals in the domestic mandis.

Technical Views

CHANA VIEW

Trend: Consolidate | Strategy: Sell On High

R1- 3450, R2- 3650 | S1- 3290, S2- 3090

GUARSEED VIEW

Trend: Bullish | Strategy: Buy On Dips

R1- 7400, R2- 7770 | S1- 6800, S2- 6350

JEERA VIEW

Trend: Consolidate | Strategy: Buy on Dips

R1- 16400, R2- 17000 | S1- 15500, S2- 15100

PEPPER VIEW

Trend: Consolidate | Strategy: Sell On Highs

R1- 33900, R2- 34800 | S1- 31600, S2- 30700

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