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WEEKLY
REPORTS

Where Market Can Move

Next Week...

A G R I

| 10th Jan 2011 - 15th Jan 2011

PEPPER TUMBLES
ON PROFIT BOOKING !
10th Jan - 15th Jan 2011
Weekly Reports
AGRI

JEERA(Jan)

Technical Analysis
Fundamental Overview
JEERA TRADES DOWN ON PROFIT BOOKING Reasons for Movement
The Jeera futures traded on lower note on profit booking last week.
Futures started the week on extended short covering and traded
slightly positive during early last week. However, weak trend in all other Profit booking
spices weighed on sentiments. However, prices recovered during late Weak trend in other spices
in the week. Steady spot activity further pressurized the prices and
futures ended on slightly lower note. The Jeera futures are projected to
trade in a narrow range next week. Extended profit booking might
pulled down the prices. Overall steady spot market activity in absences
of fresh market cues may weigh on prices. As per trade sources, Jeera
production in 2011 is expected to be around 20 Lakh bags (1.10 mt)

2 against 25 Lakh bags (1.37 mt). Available stocks are also very low
which may support the prices at lower levels. Average daily prices at
spot market of Unjha were steady to `13,700 per quintal. Arrivals
reported were around 2500 bags (each bag= 60 Kg.). As per Spices
Board data, Jeera exports in November stood at 2,500 tons, with a
decline of 37.5% as compared to 4,000 tons in the same period last
year. As per Spices Board data, international price of Jeera in New York
market was almost unchanged to $3.64 per kg during the week ended
24th December 2010 against $2.93 per kg quoted in the same period
last year.
Agri Report

Daily Chart
Weekly Pivots

Script Levels
R3 15401
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R2 14946
R1 14680
PP 14491
S1 14225
Figure: 1 Jeera

S2 14036
S3 13581

Market Overview Strategy

Jeera was in consolidation for most
part of the previous week, but it was
not sustaining at higher levels and we
saw some short covering on the last
day of the week. For the next week
Jeera has resistance at 14800 and
support at 14100.
Jeera is in a consolidation phase
and one should use the strategy of
sell on higher levels. If in the coming
week Jeera sustains below the level
of 14100 then we can expect the
level of 13800, and if it sustains
above 14800 we can see the level of
15050.
10th Jan - 15th Jan 2011
Weekly Reports
AGRI

GUARSEED(Jan)

Technical Analysis
Fundamental Overview
GUAR SEED TRADES DOWN ON INCREASED ARRIVALS Reasons for Movement
Guar seed and gum futures traded bearish last week due to sluggish
activities across the spot markets. The arrivals were stable around 60,000 High arrivals
bags across India and spot prices were around 2410/quintal. Buyers Enough stock
remained away from the market at these higher levels. The Guar seed and
Guar gum futures are expected to trade bearish for the next week. The Guar
gum buyers are reported inactive across the spot markets as the prices are
prevailing at higher levels. Prices are affected by the higher production of

3
Churi and Korma due to utilization of the full mills capacity. According to
trade sources the Guar gum buyers have already stocked enough to fulfill
their export consignments. New export consignments shall also be backed
off from registering at this higher price levels. The trend reversal can be
seen if the prices cool off a bit. As on 5th January Guar inventory at NCDEX
warehouses is 67743 tons.
Agri Report

Daily Chart
Weekly Pivots

Script Levels
R3 2676
R2 2576
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R1 2522
PP 2476
S1 2422
Figure: 1 Jeera

S2 2376
S3 2276

Market Overview Strategy

Last week Guarseed was initially
bullish but it erased all its gains till the
end of the week. Guarseed was in a
narrow range and was neither
sustaining at higher levels nor at
lower. For the next week Guarseed
has resistance at 2532 and support at
2370.
For next week in Guar seed traders
should go for selling at higher levels
strategy, if Guar seed sustains
below the level of 2370 we can see
the level of 2325, and above 2532 it
can touch the level of 2565.
10th Jan - 15th Jan 2011
Weekly Reports
AGRI

SOYABEAN(Feb)

Technical Analysis
Fundamental Overview
SOYBEAN ENDS LOWER ON OVERSEAS MARKET Reasons for Movement
The NCDEX Soybean futures rebounded from its previous losses in early trade
last week on short covering. Speculative buying was seen in the market on
expectation of revival in export demand for Indian Soy meal. A rally in Weak overseas market
international market on report of return of dry weather condition for Argentina Selling pressure
gave underlying support to Indian market. Domestic traders discounted the
news of bird flu outbreak in Korea as the country import very small amount of
Soy meal from India. However, towards end of the week prices shed some of
early gains on profit taking. Soybean futures are forecast to trade on a weaker
note on selling pressure and taking cues from weak overseas market. Indian
spot markets are witnessing subdued trading amid thin arrivals, which is

4 resulting into weak trend in the futures market. On global front, CBOT Soybean
futures retreated from their previous gains on profit sales. Drastic fall in Crude
oil prices—to 3-week low—had a spill over effect on CBOT Soy market.
Furthermore, disappointing weekly export sales data also added bearishness to
the market. According to USDA, Soybean export from US during December 24-
30 was down 26% W/W to 489,300 tons. This figure is down by 9% from
previous 4-weeks average. World oil and oilseeds trading—including India—are
cautious for trade ahead of USDA's monthly crop report scheduled for release
on 12th January. We are expecting that USDA is likely to trim production forecast
of Soybean for Argentina. Overall, medium-to-long term trend is remaining
Agri Report

positive for the Soy complex market on tight supply and robust demand.

Daily Chart
Weekly Pivots

Script Levels
R3
www.capitalvia.com

2618
R2 2517
R1 2458
PP 2416
S1 2357
Figure: 1 Jeera

S2 2315
S3 2214

Market Overview Strategy

Last week Soybean was in a bearish
phase and was not sustaining at
higher levels but we saw some short
covering coming on the last day of
the week. For the next week Soybean
has resistance at 2450 and support at
2368.
Soybean is in an upward
consolidation phase on charts and
one should look for selling
opportunities at higher levels, if
Soybean sustains below the level of
2368 we can see the level of 2330,
and on the up side if it sustains
above the level of 2450 we can see
Soybean at 2485 level.
10th Jan - 15th Jan 2011
Weekly Reports
AGRI

CHANA(Jan)

Technical Analysis
Fundamental Overview
CHANA DECLINES ON SLACK DEMAND Reasons for Movement
Bearish trend continued in Chana futures last week due to short selling.
Chana prices hovered around 2350/quintal in Indore spot market. The Slack demand
activities across the spot market were sluggish on cold weather High production
conditions and slack demand. Chana futures are expected to trade expectation
lower next week. The good crop condition across the major growing
areas is raising hopes of higher production which is pressurizing the
prices. The stockists are offloading the stocks in open markets and
also through exchange to encash on marriage season demand.

5 According to trade sources, though the imports from Australia have

reduced by around 70% the impact is not seen on the prices as the
stocks are higher in private ware houses. Increasing dematted stocks
is creating concerns about the higher delivery likely to happen on expiry
of January contract. According to data released by the central
agriculture ministry the area under Chana has increased by 7.2% as on
24/12/2010 to 87.79 lakh hectares. Chana inventory at NCDEX
warehouses and currently it is around 7168 tons as on 5th January.
Agri Report

Daily Chart
Weekly Pivots

Script Levels
R3 2682
www.capitalvia.com

R2 2615
R1 2585
PP 2548
S1 2518
Figure: 1 Jeera

S2 2481
S3 2414

Market Overview Strategy

Last week Chana was bearish for
most part of the week but we saw
some good short covering on the last
two days of the week which erased its
most of the early losses. For the
coming week Chana has resistance
at 2590 and support at 2470.
Overall trend of Chana is of
consolidation and one should go for
buying at lower levels strategy in it.
For the coming week if Chana
sustains above 2590 level we can
see it at 2630 and below 2470 we
can expect the level of 2440.
10th Jan - 15th Jan 2011
Weekly Reports
AGRI

Weekly Market Update

Symbol Exch- Expiry Commodity Price Unit Previous Open High Low Close Qty. Net Open Weekly
ange Date Name Close Traded Interest TurnOver
(Rs. in Lakhs)

JEERAUNJHA NCDEX 20-JAN-11 JEERA RS/QUINTAL 14471 14547 14757 14302 14415 39648 -56 7851 54,316.31

PPRMLGKOC NCDEX 20-JAN-11 PEPPER RS/QUINTAL 22932 22980 23490 22660 22780 43906 -152 7945 97,217.98

TMCFGRNZM NCDEX 20-Apr- 11 TURMERIC RS/QUINTAL 10276 10310 10380 9700 10270 18520 -6 5965 15,284.21

GARSEDJDR NCDEX 18-FEB-11 GUARSEED RS/QUINTAL 2483 2479 2576 2474 2516 661080 33 124000 148,106.99

GARGUMJDR NCDEX 18-FEB-11 GUARGUM RS/QUINTAL 6541 6536 6839 6474 6556 86200 15 38160 54,231.17

CHARJDDEL NCDEX 20-JAN-11 CHANA RS/QUINTAL 2564 2567 2579 2512 2555 241190 -9 93000 55,903.98

6 SYBEANIDR

SYOREFIDR
NCDEX 18-FEB-11

NCDEX 18-FEB-11
SOYBEAN RS/QUINTAL

SOY OIL RS/10KGS

REFINED
2463

652.10
2470

654.15
2476

656.35
2375

640.6
2399.5

645.55
451030 -63.5 231100

696670 -6.55 115000

102,269.40

365,541.60

RMSEEDJPR NCDEX 20-JAN-11 RAPE MUS- RS/20KGS 569.70 571.9 575 557.4 562.15 261070 -7.55 119420 69,244.34
TARD SEED

COCUDAKL NCDEX 18-FEB-11 COTTONSEED RS/QUINTAL 1055 1055 1078 1050 1062 218440 7 67880 20,722.57
OILCAKE

GURCHMUZR NCDEX 18- MAR -11 GUR RS/40KGS 1054 1054 1054 1006 1008 21920 -46 18410 5,179.90

POTATO NCDEX 18- Mar -11 POTATO RS/QUINTAL 610.20 610 605.4 645 34.8 23520 5,927.71
Agri Report

646.2 106695

KAPASSRNR NCDEX 29-APR- 11 KAPAS RS./20KG 749.90 752 753 732.6 732.6 20573 0.1 6061 26,356.40

WHTSMQDELI NCDEX 20-JAN-11 WHEAT RS/QUINTAL1339.40 1343 1373.2 1335 1372.8 8060 33.4 7130 743.10

MENTHA OIL MCX 31-JAN-11 MENTHA OIL RS/KG 1209.30 1202 1213 1104.1 1147.7 32786 -61.6 5081 161167.31

CARDAMOM MCX 15- FEB -11 CARDAMOM RS/KG 1616.80 163 1650 1503 1596 7520 -20.8 1359 14342.13
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10th Jan - 15th Jan 2011
Weekly Reports
AGRI

Weekly Market Update

EXCHANGE COMMODITY CLOSING PRICE % CHANGE

NCDEX JEERA 14415 -0.39

NCDEX PEPPER 22780 -0.66

NCDEX TURMERIC 10270 -0.06

NCDEX GUARSEED 2516 1.33

NCDEX GUARGUM 6556 0.23

NCDEX CHANA 2555 -0.35

NCDEX SOYBEAN 2399.5 -2.58

7 NCDEX

NCDEX
SOY OIL REFINED

RAPE MUSTARD SEED

645.55

562.15
-1.00

-1.33

NCDEX COTTONSEED OILCAKE 1062 0.66

NCDEX GUR 1008 -4.36

NCDEX POTATO 645 5.70

Agri Report

NCDEX KAPAS 750 0.01

NCDEX WHEAT 1372.8 2.49

NCDEX MENTHA OIL 1147.7 -5.09

NCDEX CARDAMOM 1596 -1.29

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Weekly Gainers

COMMODITY EXPIRY DATE CLOSING PRICE % CHANGE

POTATO 18-MAR-11 645 5.70

WHEAT 20-JAN-11 1372.8 2.49

GUARSEED 18-FEB-11 2516 1.33

Weekly Losers

COMMODITY EXPIRY DATE CLOSING PRICE % CHANGE

MENTHA OIL 31-JAN-11 1147.7 -5.09

GUR 18-MAR-11 1008 -4.36

SOYBEAN 18-FEB-11 2399.5 -2.58

10th Jan - 15th Jan 2011
Weekly Reports
AGRI

Weekly Pivots
Scripts R3 R2 R1 PP S1 S2 S3

JEERA 15401.33 14946.33 14680.67 14491.33 14225.67 14036.33 13581.33

(JAN)
PEPPER 24636.67 23806.67 23293.33 22976.67 22463.33 22146.67 21316.67
(JAN)
TURMERIC 11476.67 10796.67 10533.33 10116.67 9853.33 9436.67 8756.67
(APR)
GUARSEED 2726.00 2624.00 2570.00 2522.00 2468.00 2420.00 2318.00
(FEB)
GUARSGUM 7353.00 6988.00 6772.00 6623.00 6407.00 6258.00 5893.00
(FEB)

8 CHANA
(JAN)
SOYBEAN
2682.67

2618.83
2615.67

2517.83
2585.33

2458.67
2548.67

2416.83
2518.33

2357.67
2481.67

2315.83
2414.67

2214.83
(FEB)
REFINED SOYA OIL 679.00 663.25 654.40 647.50 638.65 631.75 616.00
(FEB)

MUSTARD 600.05 582.45 572.30 564.85 554.70 547.25 529.65

(JAN)
Agri Report

COTTONSEED 1119.33 1091.33 1076.67 1063.33 1048.67 1035.33 1007.33

OIL CAKE (FEB)

GUR(MAR) 1118.67 1070.67 1039.33 1022.67 991.33 974.67 926.67

POTATO 713.80 673.00 659.00 632.20 618.20 591.40 550.60

(MAR)

KAPAS 786.00 765.60 757.80 745.20 737.40 724.80 704.40

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(APR)
MENTHA OIL 1372.73 1263.83 1205.77 1154.93 1096.87 1046.03 937.13
(JAN)

CARDAMOM 1877.00 1730.00 1663.00 1583.00 1516.00 1436.00 1289.00

(FEB)
10th Jan - 15th Jan 2011
Weekly Reports
AGRI

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