Weekly Agri Commodity Report by www.capitalheight.com 09-01-2012 to 13-12-2012

MARKET WRAP FOR WEEKLY AGRI COMMODITY

CHANA

·         Chana ended up for second consecutive week on the back of extended buying owing to firm spot demand in the market.

·         Chana prices are expected to continue uptrend though it will face stiff resistance at 3550 levels while low rains in southern states and production Gujarat will affect the prices as well.

GUARSEED

·         Guar seed sizzled up this week after last week’s correction taking cues from its firm export demand in international market.

·         Guar seed may extend uptrend in coming week though there can be a correction as international buyers are not placing orders at higher levels and wait for some correction.

JEERA

·         Jeera ended down after two weeks of uptrend owing to fresh selling at higher levels and profit booking as there are reports of higher sowing.

·         Jeera prices will be dependent on crop growth status in major producing regions as there are reports of higher sowing and its export and production reports from Spice board of India.

PEPPER

·         Pepper ended down this week shredding 4.2% due to subdued demand outlook in the domestic market and weak exports demand as well

·         Pepper prices will take cues from its domestic and international production reports and export demand coupled with arrivals in the domestic mandis

Technical Views

CHANA VIEW

Trend: Consolidate | Strategy: Sell On High

R1- 3300, R2- 3540 | S1- 3360, S2- 3250

GUARSEED VIEW

Trend: Bullish | Strategy: Buy On Dips

R1- 8000, R2- 8690 | S1- 7470, S2- 7050

JEERA VIEW

Trend: Consolidate | Strategy: Buy on Dips

R1- 16400, R2- 17000 | S1- 15300, S2- 14500

PEPPER VIEW

Trend: Consolidate | Strategy: Sell On High

R1- 33900, R2- 34800 | S1- 30200, S2- 28400

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