Weekly Agri Commodity Report by www.capitalheight.com 16-01-2012 to 20-01-2012

MARKET WRAP FOR WEEKLY AGRI COMMODITY

CHANA

·         Chana ended this week gaining marginal 0.5% as its upside was trimmed due to profit booking at higher levels and resistance trendline.

·         Chana prices were up due to lower acreage reports from major Chana producing regions and in coming week may continue uptrend though profit booking at higher level may be seen.

GUARSEED

·         Guar seed continued to hit upper circuit this week gaining 26.60% owing to its thin supply despite additional margins charged by regulators (FMC).

·         Guar seed ma y continue its uptrend due to thin supply though there may be some profit booking as regulators have imposed additional 10% cash margin from next week.

JEERA

·         Jeera ended flat this week on positive basis after volatile week as there was fresh buying at lower levels and profit booking at highs.

·         Jeera prices will take cues from its sowing progress in Rajasthan and Gujarat and any news of lower estimated production may support prices to continue uptrend.

PEPPER

·         Pepper ended down due to higher arrivals and subdued demand in domestic and international market posting its second week of losses shredding 3.5%

·         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- 3520, R2- 3640 | S1- 3360, S2- 3250

GUARSEED VIEW

Trend: Bullish | Strategy: Buy On Dips

R1- 10726, R2- 13600 | S1- 9250, S2- 7040

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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