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

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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

Weekly Report Agri02nd Aug to 07th Aug 2010



R E S E A R C H

Weekly Agri Report 1st March to 6th Mar 2010



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




R E S E A R C H

Weekly Commodity Report 1st March to 6th Mar 2010



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




R E S E A R C H




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






R E S E A R C H





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Agri Commodities Reports for the Week