Agri Commodities Reports for the Week
Transcript of Agri Commodities Reports for the Week
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Spices Down on Profit Booking!
WEEKLYAGRI REPORT
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R E S E A R C H
02nd Aug 2010 to 07th Aug 2010
w w w . c a p i t a l v i a . c o m
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R E S E A R C H
Weekly Agri Report 1st March to 6th Mar 2010
R E S E A R C HR E S E A R C H
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Weekly Chart
Jeera is in bullish trend and one should use the strategy of buying on lower levels. If in the coming week Jeera sustains abovethe level of 15500 then we can expect a level of 16400, and if it sustains below 14090 we can see the level of 13500.
Strategy
Jeera is Consolidating on charts. Last week Jeera took a Psychological resistance of 16000. For the next week resistance inJeera is found at 16600 and support at 14090. Overall trend of Jeera is Bullish
JEERA REMAIN DULL ON THIN TRADING
Fall in the futures have led buyers to follow wait and watch stance.
Prices may witness further fall as the arrivals have improved amidst
weak demand. However, if fresh orders are placed by the overseas
buyers prices will find support and strengthen in the short term. Higher
price quotes by Syria for its Jeera in the international market may also
help prices to find support in the domestic market. In the medium term
to long term (August end onwards) Jeera price will depend on the
demand from the overseas and domestic buyers and stocks of Jeera
with the major producers. Spread between August and September
contract is at Rs.284 as compared to Rs.280 the previous day.
Weekly Pivots
R4 17196.33
15496.33R2
P
S2
14646.33
13796.33
S4 12096.33
SCRIPT JEERA
16346.33R3
14967.67R1
S1 14117.67
S3 12946.33
Low Volume
Firm International Market
REASONS FOR MOVEMENTJEERA
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R E S E A R C H
Weekly Agri Report 1st March to 6th Mar 2010
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Weekly Chart
For next week traders should go for buying at lower levels strategy, if Guar seed sustains above the level of 2600 we can seethe level of 2650, and below 2185 it can come till 2100.
Strategy
Last week Guar seed did a false breakout above the important level of 2580 and then closed near to its week's low. For thenext week resistance in Guar seed is found at 2600 and support at 2400.
GUAR REMAIN DULL IN MANDISGuar futures since last week has
fallen almost Rs.240 due to revival of rains in the guar growing area. It is
predicted that Northwest India would receive fairly widespread rainfall
with isolated heavy to very heavy falls in the coming week. This will
boost sowing and thus, prices will remain under pressure during the
current week. However, lower availability of Guar will prevent the
prices from falling sharply down in the medium term. Production of
guar was lower in the previous year. This will support prices to
strengthen in the medium term. Spread between August and
September contract is Rs.21 same as that of previous day. Guar seed
futures may trade down due to forecast of fairly widespread rainfall inNorthwest India during the next 24 hours. Sowing is expected to pick
up in this week as IMD has predicted rains in Rajasthan in the current
week. Thus the prices may witness correction in the next 2 to 3 days.
Short term (till July), prices will depend on the monsoon rains in the
major guar growing areas and demand from the overseas buyers. In the
medium to long term (August onwards), prices will depend on the
sowing progress of Guar and demand from the overseas buyers for
guar gum.
Weekly Pivots
R4 2800
2492R2
P
S2
2338
2184
S4 1876
SCRIPT GUARSEED
2646R3
2395R1
S1 2241
S3 2030
Profit Booking
Buying At Lower Levels
REASONS FOR MOVEMENTGUARSEED
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R E S E A R C H
Weekly Commodity Report 1st March to 6th Mar 2010
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Weekly Chart
Soybean is consolidating on charts and one should look for buying opportunities at lower levels, if Soybean, sustains above thelevel of 2075 we can see the level of 2150, and on the lower side if it sustains below the level of 1960 we can see Soybean at1880 level.
Strategy
Last week Soybean was in a bullish trend and we saw some good buying coming at lower levels. For the coming week
Soybean, has resistance at the level 2155 and support at 1960.
SOYBEAN GAIN GLOBALLY
August Soybean futures surged sharply higher in the morning session due to
firm overseas market and touched a high of Rs 2091 a quintal, however it could
not sustain higher levels on profit taking and finally it manage to close at Rs
2038.50 a quintal with a loss of Rs 18 a quintal as compared to previous close
of 2057.50 a quintal. As per Soybean Processors Association of India (SOPA),
domestic soybean production may decline this year to 85 lakh tones as
compared to last year's 95 lakh tones, which is in favour of bulls. Spread
between NCDEX August and September contract is Rs+8.00 against previous
day of Rs +11.50 per 100 Kg.
Weekly Pivots
R4 2290.67
2124.67R2
P
S2
2041.67
1958.67
S4 1792.67
SCRIPT SOYABEAN
2207.67R3
2093.33R1
S1 2010.33
S3 1875.67
REASONS FOR MOVEMENT
Bullish Fundamental Factors
Dry Weather Conditions
Overseas Demand
SOYABEAN
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R E S E A R C H
Weekly Commodity Report 1st March to 6th Mar 2010
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Weekly Chart
Overall trend of Chana is of consolidation and one should go for buying at lower levels strategy in it. For the coming week ifChana sustains above 2440 level we can see it at 2520 and below 2260 we can expect the level of 2190
Strategy
Last Week Chana did not able to break the level of 2440, Chana was consolidating for the entire previous week and was not
breaking at higher levels. For the coming week Chana has resistance at 2440 and support at 2260.
CHANA FUTURES POST OVER 1PC LOSSES
Chana futures ended registering more than one per cent losses on
National Commodity and Derivatives Exchange Friday closing session.
Due to lack of further physical buying activities from millers and traders,
chana futures witnessed a steep fall. August contract receded 1.4% or Rs
34 a quintal at Rs 2,312 a quintal and fluctuated between Rs 2,348-
2,311 per quintal with trading volume 78,900 tons. NCDEX September
contract plunged 1.7% or Rs 41 at Rs 2,364 a quintal and traded in the
range of Rs 2,407-2,363 a quintal. Trading volume stood at 85,700 tons.
October contract traded down Rs 41 at Rs 2,441 a quintal and movedbetween Rs 2,483 and Rs 2,440 a quintal. Volume was 10,890 tons.
Weekly Pivots
R4 2502
2376R2
P
S2
2313
2250
S4 2124
SCRIPT CHANA
2439R3
2340R1
S1 2277
S3 2187
Lack Of Phyical Buying
Profit Booking
REASONS FOR MOVEMENTCHANA
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R E S E A R C H
Weekly Commodity Report 1st March to 6th Mar 2010
R E S E A R C HR E S E A R C H
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Weekly Report Agri02nd Aug to 07th Aug 2010
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