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RESEARCH

WEEKLY
AGRI REPORT
Spices Recover On Improved Buying!

27th Sep 2010 to 02nd Oct 2010

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 Weekly Report Agri
Weekly
27th Sep to 02nd Oct 2010 Agri Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

JEERA REASONS FOR MOVEMENT

JEERA RECOVERS ON IMPROVED BUYING ACTIVITY, BETTER Improved Buying

OFFTAKES Lower Stocks Till The Fresh Arrivals
Improved buying by the market participants amidst better off takes at
the domestic led prices to recover yesterday from the lows yesterday.
Revival of demand from the overseas and domestic buyers will support Weekly Pivots
prices to strengthen in the short term (till September). Also, prices in SCRIPT JEERA
the international market of Syrian origin are being offered at higher R4 15950
rates than Indian origin. This will help prices to find support and
R3 15190
strengthen in the medium term (September mid onwards). Also, there
R2 14440
are lower stocks in the domestic market till the fresh arrivals expected in
the month of March which will also add to the gains. In the medium R1 14145
term to long term (October onwards), Jeera prices will depend on the P 13685
demand from the overseas and domestic buyers and stocks of Jeera S1 13391
with the major producers. Spread between October and November S2 12931
contract is at Rs.6 as compared to Rs.30 the previous day. S3 12175
S4 11420

Weekly Chart

Last week Jeera was in consolidation and was able to sustain at higher levels and closed near to its high. For the next week
resistance in Jeera is found at 14420 and support at 13100.

Strategy
Jeera is in a consolidation phase and one should use the strategy of selling on higher levels. If in the coming week Jeera
sustains below the level of 13100 then we can expect a level of 12650, and if it sustains above 14420 we can see the level of
14700.
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 Weekly Report Agri
Weekly
27th Sep to 02nd Oct 2010 Agri Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

GUARSEED REASONS FOR MOVEMENT

GUAR CLOSES HIGHER ON MIXED OUTPUT VIEW Better Crop Prospects

Better crop prospects and lackluster demand kept Spot as well as Lackluster Demand
futures prices of Guar mixed on Saturday. Guar seed output is likely to
rise this year due to increased acreage and a favorable monsoon season
in the major producing states of Rajasthan, Gujarat, Haryana and Weekly Pivots
Punjab. Export demand for Guar gum has declined. Also, lower
SCRIPT GUARSEED
domestic demand of Churi and Korma would provide support to the
R4 2305
bears. In the medium to long term (October onwards) prices will take
cues from the stocks of Guar with the stockists, demand from the R3 2213
overseas buyers and the pace of arrivals of Guar crop. Spread between R2 2121
October and November contract is Rs.49 per qtl compared to Rs. 19 per R1 2087
qtl. Guar futures in the intraday may witness some short covering; P 2029
however, prices may decline in the coming days on better crop
S1 1995
prospects. In the Short term (till September), prices will depend on the
S2 1937
demand from the overseas buyers which is currently at a slow pace. In
S3 1845
the medium (October onwards) prices will depend on the pace of
arrivals of early sown Guar crop and stocks of Guar with the stockists. S4 1753

Weekly Chart

Last week Guar seed did break its important support of 1960 but was not able to sustain below it and we saw some good
buying coming at lower levels in the last two days of the week. For the next week resistance in Guar seed is found at 2160 and
support at 1950.
Strategy
For next week traders should go for buying on lower level strategy, if Guar seed sustains below the level of 1970 we can see the
level of 1920, and above 2070 it can come up till 2130.
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 Weekly Report Agri
27th Sep Weekly Commodity
to 02nd Oct 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

SOYABEAN REASONS FOR MOVEMENT

SOYBEAN CLOSES HIGHER ON TRACKING GLOBAL CUES Fresh Arrivals

NCDEX October Soybean futures closed slightly higher on account of Good Rainfall
fresh arrivals in major producing states like Madhya Pradesh and
Maharashtra. Fresh arrivals are increasing day by day in Madhya Weekly Pivots
Pradesh, which is major producing state of soybean are in favor of
SCRIPT SOYABEAN
bears. Spread between NCDEX October and November contract is Rs
R4 2338
22.50 against previous day of Rs 15.50 per 100 Kg. CBOT November
R3 2246
soybean futures ended higher at $ 10.93/bushels on Thursday, up 5.00
R2 2154
cents/bushel as compared to previous close. CBOT December Soybean
R1 2116
meal futures ended lower at $ 309.50/ton on Thursday, down
P 2062
$0.90/tonne as compared to previous close.
S1 2024
S2 1970
S3 1878
S4 1786

Weekly Chart

Last week Soybean took important support of 1955 level and bounced back, afterwards we saw some good buying coming at
lower levels. For the next week Soybean has resistance at 2110 and support at 1960.

Strategy
Soybean is in a consolidation phase on charts and one should look for selling opportunities at higher levels, if Soybean sustains
below the level of 1960 we can see the level of 1880, and on the up side if it sustains above the level of 2110 we can see
Soybean at 2145 level.
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 Weekly Report Agri
27th Sep Weekly Commodity
to 02nd Oct 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

CHANA REASONS FOR MOVEMENT

CHANA UP ON FRESH DEMAND AT LOWER LEVELS Lower Level Buying

The Chana futures are likely to trade positive during early hours of the Rise In Acreage
day on extended short covering, however, trend will remain weak.
Investors and traders are likely to cover their short positions anticipating
market is in oversold zone. Futures markets are witnessing a technical Weekly Pivots
recovery; however, fundamental factors are still bearish for the prices. SCRIPT CHANA
Lackluster demand for Chana in the spot market from dal millers is likely R4 2566
to have a bearish impact on the market. Ease in prices of other pulses due R3 2454
to fresh arrivals is having a cooling effect on Chana market also. We are
R2 2342
anticipating a rise in acreage under Chana cultivation on favourable
R1 2297
weather condition. In the short term, Chana prices may trade firm on
P 2230
expectations of better demand ahead of festive seasons. However,
October onwards, Chana futures are expected to remain under pressure S1 2185
on the reports of higher sowing acreage under Kharif Pulses. In the long S2 2118
term (November onwards) Chana prices may take cues from the prices of S3 2006
other pulses and sowing progress of Chana in the major growing areas. S4 1894

Weekly Chart

Last week Chana bounced back from its important support of 2060 level and made a weekly close near to its high. For the
coming week Chana has resistance at 2296 and support at 2140.

Strategy
Overall trend of Chana is of consolidation and one should go for selling at higher levels strategy in it. For the coming week if
Chana sustains below 2060 level we can see it at 2020 and above 2296 we can expect the level of 2335.
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 Weekly Report Agri
27th Sep Weekly Commodity
to 02nd Oct 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

Weekly Pivots

Script R3 R2 R1 PP S1 S2 S3

JEERA 15193.67 14439.67 14145.33 13685.67 13391.33 12931.67 12177.67

TURMERIC 17099.33 15227.33 14580.67 13355.33 12708.67 11483.33 9611.33

PEPPER 22662.67 21164.67 20357.33 19666.67 18859.33 18168.67 16670.67

SOYABEAN 2246.83 2154.83 2116.67 2062.83 2024.67 1970.83 1878.83

GUARGUM 5295.33 5031.33 4891.67 4767.33 4627.67 4503.33 4239.33

GUARSEED 2213.67 2121.67 2087.33 2029.67 1995.33 1881.00 1814.00

CHANA 2454.00 2342.00 2297.00 2230.00 2185.00 2118.00 2006.00

Script R3 R2 R1 PP S1 S2 S3

MUSTARD SEED 588.17 569.17 562.83 550.17 543.83 531.17 512.17

KAPAS 738.70 722.80 714.70 706.90 698.80 691.00 675.10

GUR 981.60 959.40 948.20 937.20 926.00 915.00 892.80

CARDAMOM 1186.27 1125.27 1093.53 1064.27 1032.53 1003.27 942.27

CRUDE PALM OIL 439.93 431.09 427.05 422.25 418.21 413.41 404.57

REFINED SOYA OIL 534.80 515.60 508.80 496.40 489.60 477.20 458.00

MENTHA OIL 915.17 876.87 860.43 838.57 822.13 800.27 761.97

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 Weekly Report Agri
27th Sep Weekly Commodity
to 02nd Oct 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

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