Chana futures (Jan) marginally came down in this week due to weak activity at sport market. Chana prices went down by 0.1 per cent and closed at 3071 level. Dhaniya prices may rise due to robust export demand and lower sowing rate in producing regions along with lower carry forward stocks in the physical markets.

1. Weekly Newsletter-Agri Commodity
23/12/2013
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Weekly News Letter-Agri
Contents
Market Wrap
Chana
Dhaniya
Jeera
Turmeric
Technical Analysis
Chana
Dhaniya
Jeera
Turmeric
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MARKET WRAP
CHANA
Chana futures (Jan) marginally came down in this week due to weak activity at
sport market. Chana prices went down by 0.1 per cent and closed at 3071level.
Chana futures (Jan) is expected to remain below 3060 levels due to factors such
as availability of cheap imported Chana and slack buying at the spot markets.
DHANIYA
Dhaniya futures skyrocketed as shortage in supply made traders to go on a
buying spree. Dhaniya went up by 5.8 per cent (WoW) to close at 8610 level.
Dhaniya prices may rise due to robust export demand and lower sowing rate in
producing regions along with lower carry forward stocks in the physical markets.
JEERA
Jeera futures (Mar) prices may remain trapped in sideways to bearish zone as
sowing is turning normal after weather disturbances in Gujarat and other states.
Jeera futures for the month of March went marginally down by 0.3 per cent
(WoW). Jeera is likely to trade on higher level, if it breaches the level of 13100.
TURMERIC
Turmeric futures came down by 2.0 per cent (w/w) and closed at 6404. Turmeric
prices saw a huge upsurge last week in it & traders have started booking profit.
Turmeric prices are expected to move up; however, profit booking at higher
levels cannot be denied. Demand for Erode turmeric is declining in spot market.
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TECHNICAL VIEW
CHANA
WEEKLY PIVOT
SCRIPT
CHANA
R4
3417
R3
3291
R2
3165
R1
3118
P
3039
S1
2992
S2
2913
S3
2787
S4
2661
OUTLOOK
Trend:
Consolidate
Resistance: 3120, 3250
Support:
2980, 2870
Strategy:
Sell On High
CHANA WEEKLY
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DHANIYA
WEEKLY PIVOT
SCRIPT
DHANIYA
R4
10288
R3
9671
R2
9054
R1
8832
P
8437
S1
8215
S2
7820
S3
7203
S4
6586
OUTLOOK
Trend:
Consolidate
Resistance: 8850, 9150
Support:
8200, 7820
Strategy:
Buy On Dips
DHANIYA WEEKLY
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JEERA
WEEKLY PIVOT
SCRIPT
JEERA
R4
14085
R3
13725
R2
13365
R1
13185
P
13005
S1
12825
S2
12645
S3
12285
S4
11925
OUTLOOK
Trend:
Consolidate
Resistance: 13200, 13550
Support:
Strategy:
12800, 12450
Buy On Dips
JEERA WEEKLY
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TURMERIC
WEEKLY PIVOT
SCRIPT
TURMERIC
R4
7741
R3
7289
R2
6837
R1
6620
P
6385
S1
6168
S2
5933
S3
5481
S4
5029
OUTLOOK
Trend:
Consolidate
Resistance: 6650, 6900
Support:
6100, 5820
Strategy:
Sell On High
TURMERIC WEEKLY
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