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OUTLOOK
SPICES- JEERA
NCDEX JEERA FUTURE
Jeera futures declined on extended selling by the traders on the back of higher sowing from the producing regions. In NCDEX jeera February contract is trading at Rs.14850 per quintal According to Gujarat farm ministry, area sown under Jeera till January, 18th 2012 stood at 3.682 lakh hectares (lh) up 50% as compared to last year while area covered in Rajasthan till date is expected to be 3.03 lakh hectares as compared to 3.30 lakh hectares in the same period last year. According to Spices Board of India, exports of Jeera during April 2011- November 2011 stood at 26500 tonnes as compared to 20,750 tonnes in 2010-11, an increase of 27.7%.
O OPENHIGHLOWCLOSE% CGS3S2S1R1R2R3VOLOI15200152501475114844-2.311395014449146471514615447159464434521018 1
STRATEGY:
SPICES- PEPPER
Pepper futures fell on profit booking by the traders on the back of subdued spot demand amid fresh arrivals from the fresh crop.In NCDEX pepper February contract hits lower circuit at Rs.31205 per quintal against the previous close. In the morning session the contract traded at a high of Rs.32730 per quintal. Open interest of the contract so far is 6298 lots and volume traded is 1604 lots for the time being. According to Spices Board of India, exports of pepper during April 2011- November 2011 stood at 17,000 tonnes as compared to 11,850 tonnes in 2010-11, rise of 43.6%. According to International Pepper Community (IPC) exports of Black Pepper during January to October 2011 from six major exporting countries (Brazil, India, Indonesia, Malaysia, Vietnam and Sri Lanka) was around 2.04 lakh tonnes a decline of 4.6% as compared to 2.14 lakh tonne in the same period last year.
O OPENHIGHLOWCLOSE% CGS3S2S1R1R2R3VOLOI32700327303120531205-4.0028663301883069732222332383476311688721435 3
STRATEGY: -
DAILY AGRI
OUTLOOK
O OPENHIGHLOWCLOSE% CGS3S2S1R1R2R3VOLOI2499250424802486.5-0.8224422466247625002514253823779925990 2
PULSES CHANA
A weak trend continued to prevail for Chana in the Spot and the Futures market as low winter season demand amidst arrivals from the Southern states kept pressure on the market sentiments. Traders are not ruling out further profit booking in the short term as new crop arrivals are also awaited in next few weeks. Lower Pulses production prospect reports kept supporting prices while lack of significant demand prevented a major uptrend. Reports of decline in Pulses production especially Tur from states like AP, Maharashtra and Karnataka due to reported lower rainfall activities there, could support Chana rates in medium term but short term trend looks weak.
DAILY AGRI
OUTLOOK
GUAR SEED
Guar rates recovered moderately from the lower levels on short covering.Volumes continued to remain low as high volatility continued even as impositions of additional margins on the Buy side kept Buyers away amidst squaring off of the long positions. Low volumes amidst lower trading activities have been reported at these levels. Lower production prospects, moderate arrivals and a strong Dollar are likely to support the market Fundamentals later on though some more corrections in the short term cannot be ruled out. Traders however expect short term very high volatility to continue due to the recent additional margin impositions on the Buy side. A major profit booking too is not ruled out from some sources.
STRATEGY: -
R2
15,447 33,238 2,514 3,197 12,375
R1
15,066 32,072 2,496 3,133 11,760
PIVOTS
14,948 31,713 2,490 3,114 11,571
S1
14,647 30,697 2,476 3,062 11,303
S2
14,449 30,188 2,466 3,031 10,767
Research Desk
DAILY AGRI
OUTLOOK
PRIYANK UPADHYAY (AVP-RESEARCH) ANUP SAHU (RESEARCH ANALYST) SUNIL ROKADE (RESEARCH ANALYST)
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