Global Research Limited

WEEKLY
REPORTS

Where Market Can Move

Next Week...

A G R I
| 29th Nov - 04th Dec. 2010

Spices Down
on Sluggish
Demand !
29th Nov Weekly Reports
to 04th Dec
AGRI

JEERA

Technical Analysis
Fundamental Overview
JEERA TUMBLES ON PROFIT BOOKING Reasons for Movement

C
lear sky raised hopes amongst the farmers that they could in the
days to come go for fresh sowing of Jeera again. This is
Lower Stocks
pressurizing the prices. However, lower stocks of Jeera with the
domestic stockists and delay in the sowing on account of unseasonal Growing Acreage Areas
rains will support prices in the coming weeks. Expectation of demand
from the overseas and domestic buyers will also help support prices in
the short term. In medium to long term (December end onwards), Jeera
prices will depend on the demand from the overseas and domestic
buyers and sowing progress in the major Jeera growing areas

2 particularly Rajasthan and Gujarat. Jeera prices will also take cues from
the price parity of major origins particularly Syria and Turkey in the
international market. Spread between December and January contract
is at Rs.315. Jeera prices in the intraday will trade firm due to demand
from the overseas and domestic buyers. In the short term (till mid of
December), trend will depend on Jeera price parity of various origins in
international market and stocks of Jeera with local stockists. In the
medium to long term (December end onwards) prices are likely to take
cues from sowing progress in India and demand from the overseas and
domestic buyers.
Agri Report

Daily Chart
Weekly Pivots

Script Levels
R3 17408
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R2 16037
R1 15163
PP 14666
S1 13792
Figure: 1 Jeera

S2 13295
S3 11924

Market Overview Strategy

As we mentioned last week Jeera did
broke the important resistance of
15070 and did our target of 15300 but
was not able to sustain at higher level
and we saw good profit booking
throughout the week. For the next
week Jeera has resistance at 14930
and support at 14000.
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 14000 then we can
expect a level of 13700, and if it
sustains above 14930 we can see
the level of 15200.
29th Nov Weekly Reports
to 04th Dec
AGRI

GUARSEED

Technical Analysis
Fundamental Overview
GUAR TUMBLES ON HIGH ARRIVALS Reasons for Movement

T
guar futures traded weak on the last day of the week due to better
arrivals in the domestic market. Exports of Guar and its by product
which stood at around 2.10 lakh tonnes during the previous year is Better Arrivals
expected to rise in the current fiscal to around 2.5-2.6 lakh tonnes. Supply Pressure
According to a survey, world economy and a preference shift to eco-
friendly substitutes has seen a surge in demand for Indian Guar gum from
oil and gas companies that could push exports up 22 percent in 2010/11.
Fresh arrivals stood at around 1.4-1.5 lakh bags in the present week
compared to 80 thousand bags in the preceding week. As the arrivals will
gain momentum in the medium term (mid of December onwards) prices

3 may be pressurized. Guar prices may trade range bound with weak
sentiments in the short term (1-2 week) supply pressure due to increased
arrivals may be overshadowed by the increased export demand. In the
medium term trend would depend on the pace of arrivals, the demand from
the overseas markets and the movement of Indian Rupee against US dollar.
Agri Report

Daily Chart
Weekly Pivots

Script Levels
R3 2793
R2 2637
www.capitalvia.com

R1 2553
PP 2481
S1 2397
Figure: 1 Jeera

S2 2325
S3 2169

Market Overview Strategy

Last week Guarseed did broke the
important resistance of 2540 but did
not sustained above it and
afterwards we saw good profit
booking later in the week. For the
next week resistance in Guar seed is
found at 2580 and support at 2400.
For next week in Guar seed traders
should go for selling on higher
levels strategy, if Guar seed
sustains below the level of 2400 we
can see the level of 2350, and
above 2580 it can touch the level of
2620.
29th Nov Weekly Reports
to 04th Dec
AGRI

SOYABEAN

Technical Analysis
Fundamental Overview
SOYBEAN FALLS ON OVERSEAS MARKET Reasons for Movement

N
CDEX December Soybean futures traded lower on weak
overseas market as strengthening in US Dollar and China
announced for auction of Soybean from its reserve to fulfill their Weak Overseas Market
demand provided support to the bears. CBOT January Soybean futures Lower Yield
ended lower at $ 12.38/bushels on Friday, down 16.50 cents/bushel as
compared to previous close. CBOT December Soybean meal futures
ended lower at $ 336.80/ton on Friday, down $3.40/tonne as
compared to previous close. Spread between NCDEX December and
January contract is Rs 51.00 against previous day of Rs 52.00 per 100
Kg. Soybean prices are expected to lower on account of weak

4 overseas market. However, for the long term, Prices are expected to
move northward due to bullish USDA's monthly supply and demand
report as USDA unexpectedly lowered its yield estimate for the 2010/11
US Soybean crop and lowered ending stocks of US Soybean due to
strong export demand, lower yield and better export figures of
domestic Soy meal in the month of October are also in favour of the
bulls.

Daily Chart
Agri Report

Weekly Pivots

Script Levels
R3 2431
R2 2337
www.capitalvia.com

R1 2281
PP 2243
S1 2187
Figure: 1 Jeera

S2 2149
S3 2055

Market Overview Strategy

Last week Soybean was in
consolidation for most part of the
week but it was not able to sustain at
higher levels and we saw good profit
booking at the end of the week. For
the next week Soybean has
resistance at 2300 and support at
2170.
Soybean is in a consolidation phase
on charts and one should look for
buying opportunities at lower levels,
if Soybean sustains above the level
of 2270 we can see the level of
2300, and on the down side if it
sustains below the level of 2170 we
can see Soybean at 2145 level.
29th Nov Weekly Reports
to 04th Dec
AGRI

CHANA

Technical Analysis
Fundamental Overview
CHANA GAINS ON TIGHT SUPPLY Reasons for Movement

T
ight stock position with the farmers and stockiest has provided
support to the Chana prices during the last week. Chana futures
Good Rain Fall
are finding support due to reports of rains in major growing areas
particularly in A.P which may delay the harvesting which commences in Lower Stocks
the month of December. Chana, being a Rabi crop, sowing is
progressing well in Maharashtra, Karnataka and AP. Government has
set a target of 7.5 million tonnes output of Chana for 2011. However,
rains in growing areas during the last 2 weeks may harm the crop which
is just sowned and thus may impact the overall output.

5 In the short to medium term (on month), Prices may remain weak due to
rising arrivals of Kharif pulses. Long term trend in Chana futures may
depend on the reports sowing of Rabi Pulses which is presently
expected to be higher due to increase in MSP of Pulses and the climatic
conditions prevailing at the time of maturity. is presently expected to be
higher due to increase in MSP of Pulses.
Agri Report

Daily Chart
Weekly Pivots

Script Levels
R3 2687
www.capitalvia.com

R2 2598
R1 2562
PP 2509
S1 2473
Figure: 1 Jeera

S2 2420
S3 2331

Market Overview Strategy

Last week Chana was in a tight range
but was not sustaining at lower levels
and at the end of the week we saw a
slight profit booking coming. For the
coming week Chana has resistance
at 2560 and support at 2475.
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 2475 level we can
see it at 2440 and above 2560 we
can expect the level of 2590.
29th Nov Weekly Reports
to 04th Dec
AGRI

Weekly Market Update

Symbol Exch- Expiry Commodity Price Unit Previous Open High Low Close Qty. Net Open Weekly
ange Date Name Close Traded Interest TurnOver
(Rs. in Lakhs)

JEERAUNJHA NCDEX 20-Dec-10 JEERA RS/QUINTAL 14727 14763 15540 14169 14290 52251 -437 9891 69,714.74

PPRMLGKOC NCDEX 20-Dec-10 PEPPER RS/QUINTAL 22388 22420 22695 21315 21790 52779 -598 10007 102,376.77

TMCFGRNZM NCDEX 20-Dec-10 TURMERIC RS/QUINTAL 13260 13300 15794 13300 15750 26710 2490 5800 31,994.15

GARSEDJDR NCDEX 20-Dec-10 GUARSEED RS/QUINTAL 2477 2483 2565 2409 2469 1689850 -8 133760 351,284.75

GARGUMJDR NCDEX 20-JAN-10 GUARGUM RS/QUINTAL 5793 5820 6279 5820 6185 106350 392 39310 50,767.74

CHARJDDEL NCDEX 20-Dec-10 CHANA RS/QUINTAL 2459 2457 2546 2457 2526 540990 67 88590 118,654.30

6 SYBEANIDR

SYOREFIDR
NCDEX 20-JAN-10

NCDEX 20-Dec-10
SOYBEAN RS/QUINTAL 2308.5

SOY OIL RS/10KGS

REFINED
566.55
2310

567
2343

577.3
2247 2273.5

559.35 564.4
513290 -35

905970 -2.15
213730

131850
99,720.97

477,386.46

RMSEEDJPR NCDEX 20-Dec-10 RAPE MUS- RS/20KGS 572.4 572.05 575.7 562.6 566 294130 -6.4 158130 72,440.37
TARD SEED

COCUDAKL NCDEX 20-Dec-10 COTTONSEED RS/QUINTAL 1055 1053 1053.5 974 987.5 254260 -67.5 32150 22,624.23
OILCAKE

GURCHMUZR NCDEX 20-Dec-10 GUR RS/40KGS 943.4 941 947.2 925.4 931 46970 -12.4 16770 9,709.30

POTATO NCDEX 18-Mar-11 POTATO RS/QUINTAL 606.9 609 605 613.9 68700 7 21915 3,969.82
Agri Report

648.3

KAPASSRNR NCDEX 29-Apr-11 KAPAS RS./20KG 736 735 742.2 703.2 711 17261 -25 4672 21,591.73

WHTSMQDELI NCDEX 20-Dec-10 WHEAT RS/QUINTAL 1297.2 1298.4 1311 1282.2 1289 11190 -8.2 17520 1,356.46

MENTHA OIL MCX 31-DEC-10 MENTHA OIL RS/KG 1219.6 1230 1248 1180 1222.7 20805 3.1 5129 90739.33

CARDAMOM MCX 15-Dec-10 CARDAMOM RS/KG 972.6 981 1163.9 981 1111.8 10351 139.2 1247 11077.54
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29th Nov Weekly Reports
to 04th Dec
AGRI

Weekly Market Update

EXCHANGE COMMODITY CLOSING PRICE % CHANGE

NCDEX JEERA 14290 -2.97

NCDEX PEPPER 21790 -2.67

NCDEX TURMERIC 15750 18.78

NCDEX GUARSEED 2469 -0.32

NCDEX GUARGUM 6185 6.77

NCDEX CHANA 2526 2.72

NCDEX SOYBEAN 2273.5 -1.52

7 NCDEX

NCDEX
SOY OIL REFINED

RAPE MUSTARD SEED

564.4

566
-0.38

-1.12

NCDEX COTTONSEED OILCAKE 987.5 -6.40

NCDEX GUR 931 -1.31

NCDEX POTATO 613.9 1.15

Agri Report

NCDEX KAPAS 711 -3.40

NCDEX WHEAT 1289 -0.63

NCDEX MENTHA OIL 1222.7 0.25

NCDEX CARDAMOM 1111.8 14.31

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Weekly Gainers

COMMODITY EXPIRY DATE CLOSING PRICE % CHANGE

TURMERIC 20-DEC-10 15750 18.78

CARDAMOM 15-DEC-10 1111.8 14.31

GUARGUM 20-JAN-10 6185 6.77

Weekly Losers

COMMODITY EXPIRY DATE CLOSING PRICE % CHANGE

COTTON SEED OIL CAKE 20-DEC-10 987.5 -6.40

KAPAS 29-APR-11 711 -3.40

JEERA 20-DEC-10 14290 -2.97

29th Nov Weekly Reports
to 04th Dec
AGRI

Weekly Pivots
Scripts R3 R2 R1 PP S1 S2 S3

JEERA 17408.33 16037.33 15163.67 14666.33 13792.67 13295.33 11924.33

(DEC)
PEPPER 24693.33 23313.33 22551.67 21933.33 21171.67 20553.33 19173.33
(DEC)
TURMERIC 19936.00 17442.00 16596.00 14948.00 14102.00 12454.00 9960.00
(DEC)
GUARSEED 2793.00 2637.00 2553.00 2481.00 2397.00 2325.00 2169.00
(DEC)
GUARSGUM 7012.67 6553.67 6369.33 6094.67 5910.33 5635.67 5176.67
(JAN)

8 CHANA
(DEC)
SOYBEAN
2687.67

2479.83
2598.67

2383.83
2562.33

2328.67
2509.67

2287.83
2473.33

2232.67
2420.67

2191.83
2331.67

2095.83
(JAN)
REFINED SOYA OIL 602.92 584.97 574.68 567.02 556.73 549.07 531.12
(DEC)

MUSTARD 594.30 581.20 573.60 568.10 560.50 555.00 541.90

(DEC)
Agri Report

COTTONSEED 1164.00 1084.50 1036.00 1005.00 956.50 925.50 846.00

OIL CAKE (DEC)
GUR 978.13 956.33 943.67 934.53 921.87 912.73 890.93
(DEC)
POTATO 709.00 665.70 639.80 622.40 596.50 579.10 535.80
(MAR)

KAPAS 796.80 757.80 734.40 718.80 695.40 679.80 640.80

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(APR)
MENTHA OIL 1352.90 1284.90 1253.80 1216.90 1185.80 1148.90 1080.90
(DEC)

CARDAMOM 1451.37 1268.47 1190.13 1085.57 1007.23 902.67 719.77

(DEC)
29th Nov Weekly Reports
to 04th Dec
AGRI

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