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10th May 2010 to 15th May 2010

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Lower Demad Likely To Keep Spices Under Pressure

WEEKLYAGRI REPORT

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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 bearish on charts and one should use the strategy of selling on higher levels. If in the coming week Jeera sustains belowthe level of 11600 then we can expect a level of 11200, and if it sustains above 13060 we can see the level of 13500.

Strategy

Jeera remained consolidate for the entire previous week, and test the level of 13000 but did not sustain above it. For theupcoming week Jeera has an important support of 11600 and resistance of 13060.

JEERA SLIPS ON HIGHER ARRIVALS

Increased arrivals and some fall in demand at the higher levels brought

prices down for Jeera. Traders are reportedly waiting for some more

corrections in prices before exports pick up significantly. There are

expectations of a rise in exports in coming days as Dollar shows massiverise vs Re. There are reports of farmers unwilling to sell at these low

levels and holding back their stocks in anticipation of a rise in price from

these levels. Expectations of higher production, high arrivals and

moderate demand are expected to keep pressure on the price. Lowercarry forward stocks are however expected to support the rates. Some

strength in Dollar over last few days can help improving the export

demand Latest report from Spice Board of India indicates a rise in Spice

exports in April-Feb period from 433,360 tonnes last year to 437,241tonnes this year. Exports of Jeera fell from 49,500 tonnes to 42,500

tonnes.

Weekly Pivots

R4 14926

13414R2

P

S2

12658

11902

S4 10390

SCRIPT JEERA

14170R3

13017R1

S1 12261

S3 11146

High Production

High Arrivals

REASONS FOR MOVEMENTJEERA

Weekly Report Agri26th April to 01st May 2010

Weekly Report Agri10th May to 15th May 2010

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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

Traders go for buying on lower levels strategy, if it sustains above the level of 2580 we can see the level of 2670, and below2330 it can make further downside rally with the target of 2280/2250.

Strategy

Guarseed is consolidation on charts and not sustaining at higher levels. For the next week resistance is found at 2577 level and

support at 2330.

NCDEX GUAR SEED FUTURES TRADING FIRM

NCDEX GUARSEED JUNE-2010 delivery contract opened at Rs. 2395

per 100 kg today, higher by Rs. 3 per 100 kg against previous close. At

present NCDEX GUARSEED JUNE 2010 contract is trading firm at Rs.

2398 per 100 kg, an increase of Rs. 6 per 100 kg over previous close

price. The contract has so far traded in the range of Rs. 2379-2407 per

100 kg. Rise in open interest along with prices indicate that an uptrend

is in place and is likely to be sustained. Volume has declined to 64700,

lower by 159550 against previous trading day.

Weekly Pivots

R4 2675

2487R2

P

S2

2393

2299

S4 2111

SCRIPT GUARSEED

2581R3

2439R1

S1 2345

S3 2205

Supply Shortage

Favorable Weather Conditions

REASONS FOR MOVEMENT

Weekly Report Agri26th April to 01st May 2010

GUARSEED

Weekly Report Agri10th May to 15th May 2010

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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 Chart

Soybean is in consolidation and one should look for selling opportunities at higher levels, if it sustains below the level of 1910we can see the level of 1880/1850/1770, and on the upper side if it sustains above the level of 2075 we can see Soybean at2170 level.

Strategy

Soybean is still in consolidation and we saw some good short covering coming last week. For the coming week Soybean has

support at 1950 and 1910 and resistance at 2075 and 2170.

SOYBEAN LIKELY TO TRADE IN BOTH DIRECTIONS

Movement in both directions was observed on Thursday and prices finallyclosed slightly up from previous close. International sentiments continue toremain bearish. Strong Dollar against major currencies and weak internationalcrude oil are weighing up on the edible oil complex market. Global equity

markets are also weak. In India, monsoon is believed to reach timely in itssouthern parts. That can serve as another factor in favor of bears. Harvesting inmajor South American countries i.e. Brazil and Argentina is towardscompletion and both of these countries are heading towards bumperproduction this year. Thus international market is expected to continue to facesome bearish cues from supply side. On our domestic front, prices have alreadycorrected significantly during last few months. But traders still believe that

some more correction may be seen in near future. Indian soy DOC exportduring April fell 14% as compared to the same period last year due to lesscrushing and weak demand. On Friday prices are likely to trade in bothdirections. Selling on some bounce back seems a better intraday strategy.

Weekly Pivots

R4 2181

2071R2

P

S2

2016

1961

S4 1851

SCRIPT SOYABEAN

2126R3

2048R1

S1 1993

S3 1906

REASONS FOR MOVEMENT

Firm Overseas Market

Short Covering

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 still bearish and one should go for selling on higher level strategy in it. For the coming week if Chanasustains below 2065 level we can see it at 2040 and 2000.Above 2135 we can expect the level of 2175.

Strategy

Chana remained weak on charts for the whole week, but some short covering came on Saturday. For the coming week Chanahas resistance at 2170 and support at 2030.

NCDEX CHANA GET MARGINAL MOMENTUM

Short covering brought some relieves to the falling chana futures on

Friday as the commodity traded slightly higher at the NCDEX. NCDEX

chana May contract quoted flat at Rs 2,079 a quintal, down Rs nine. It

fluctuated between Rs 2,079-2,066 per quintal with trading volumes

recorded at 13,990 tons. NCDEX June contract moved up Rs three at Rs

2,177 a quintal and traded in the range of Rs 2,178-2,163 a quintal.

Trading volume stood at 14,840 tons. After breaking crucial support at

Rs2115, chana May NCDEX contract fell sharply by 2 percent yesterday

and made new contract low of Rs2075 levels. Weak fundamentalscontinue to pressurize the market for fifth consecutive day. Spot prices

remained weak at Rs2100 levels at Delhi on weak demand.

Weekly Pivots

R4 2396

2204R2

P

S2

2108

2012

S4 1820

SCRIPT CHANA

2300R3

2150R1

S1 2054

S3 1916

Government Intervention

Higher Production

REASONS FOR MOVEMENT

Weekly Report Agri26th April to 01st May 2010

CHANA

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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 Pivots

Script R3 R2 R1 PP S1 S2 S3

JEERA 13376.00 13414.00 13017.00 12658.00 12261.00 11902.00 11505.00

TURMERIC 16521.00 16495.33 15930.67 15340.33 14775.67 14185.33 13620.67

PEPPER 17500.00 17721.33 16956.67 16413.33 15648.67 15105.33 14340.67

SOYABEAN 2080.00 2071.00 2048.00 2016.00 1993.00 1961.00 1938.00

GUARGUM 5695.00 5578.33 5420.67 5146.33 4988.67 4714.33 4556.67

GUARSEED 2485.00 2487.00 2439.00 2393.00 2345.00 2299.00 2251.00

CHANA 2192.00 2204.00 2150.00 2108.00 2054.00 2012.00 1958.00

Script R3 R2 R1 PP S1 S2 S3

MUSTARD SEED 508.90 507.53 503.27 497.63 493.37 487.73 483.47

WHEAT 1174.80 1182.60 1165.20 1155.60 1138.20 1128.60 1111.20

GUR 989.20 990.40 973.20 957.20 940.00 924.00 906.80

CARDAMOM 1783.00 1714.17 1638.83 1494.67 1419.33 1275.17 1199.83

CRUDE PALM OIL 378.70 376.80 373.60 368.50 365.30 360.20 357.00

REFINED SOYA OIL 460.45 458.05 454.80 449.15 445.90 440.25 437.00

MENTHA OIL 738.40 753.83 716.27  694.13 656.57 634.43 596.87

Weekly Report Agri26th April to 01st May 2010

Weekly Report Agri10th May to 15th May 2010

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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 Agri10th May to 15th May 2010

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