Weekly

Technical Analysis

November 1, 2010 Agro Commodities

CHANA NCDEX DECEMBER, 2010 (CMP-2441)

Trend: Sideways to Mildly Bullish

Tech view. Chana remained sideways to mildly bullish in last week and set to remain same for this week, trading range set to remain sideways to mildly bullish above 2420 levels. Immediate resistance seen near 2480, 2525 and 2575 levels. Immediate support is seen near 2420, 2375, and 2325 levels. All technical indicators are turning up; indicate prices can rise up in the next coming sessions.

Fresh call: Buy Chana December NCDEX 2440-2430, Stop loss below 2375 Target 2525 /2575

Weekly Technical Report – Agri Commodities

GUARSEED NCDEX DECEMBER -2010 (CMP-2155)

Trend: Sideways to mildly bearish

Tech view: Guarseed remained bearish as expected in the previous report. We expect the bearish momentum to continue below 2200 levels for a potential target of 2100, 2050 and 2000 levels. We recommend selling near 2200-2210 range. All technical indicators are turning downside indicate prices to correct down in the next coming sessions.

Last week call: Sell Guarseed December NCDEX 2200-2210, Stop above 2275, Target 2100/2050/2000(Entry missed by Rs.2.00)

Fresh call: Sell Guarseed December NCDEX 2200-2210 , Stop loss above 2275, Target 2100/2050/2000.

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Weekly Technical Report – Agri Commodities

GUARGUM NCDEX DECEMBER - 2010 (CMP- 4909)

Trend: Sideways

Tech view: 1st Target (4900) achieved as per weekly sell (5000) call. We expect some correction near till 4800 levels in the next couple of sessions, where one can accumulate for a potential target of 5050 and 5250 on the upside. With immediate support seen near 4800, 4720 and even 4500. Immediate resistance is seen near, 5050, 5200 and 5300. All technical indicators are turning sideways and are in oversold condition indicating prices to remain sideways with the relief rally expected in the next coming sessions.

Last call: Sell Guargum December NCDEX 5000-5025, Stop loss above 5100, Target 4900/4800/4700 (1st Target achieved)

Fresh call: Buy Guargum December NCDEX above 5050 , Stop loss below 4950, Target 5150/5250

Fresh call: Buy Guargum December NCDEX 4800-4790 , Stop loss below 4700, Target 5000, 5100,5250

Please read the important disclaimer on the last page

Weekly Technical Report – Agri Commodities

JEERA NCDEX DECEMBER -2010(CMP-13129)

Trend: Sideways to mildly Bullish

Tech view: Jeera corrected back towards the level from where it started forming a double bottom pattern in daily charts. We recommend accumulating near 13000 levels for a potential target of 13300, 13500 and 13670 on the upside. Immediate support seen near 13100, 12800 and 12500 levels, prices are turning up with momentum indicate Jeera prices to move up in the next coming sessions.

Fresh call: Buy Jeera December NCDEX 13000-12950 , Stop loss below 12700, Target 13400/13600 (Repeat call from last week)

Please read the important disclaimer on the last page

Weekly Technical Report – Agri Commodities

PEPPER NCDEX DECEMBER -2010 (CMP-21348)

Trend: Mildly Bullish

Tech view: Pepper remained bullish in the last weekend and expects to remain same for this week. Immediate support is seen near 20740, 20000 and 19500 levels. Immediate resistance is seen near 21700, 22250 and 22500. All technical indicators are turning up indicate prices can rise up in the next coming sessions.

Please read the important disclaimer on the last page

Weekly Technical Report – Agri Commodities

TURMERIC NCDEX DECEMBER -2010 (CMP-11932)

Trend: Sideways to mildly bullish

Tech view: Turmeric remained mildly bullish thorough-out the week and expected to remain the same this week. Turmeric seen a breakout after along sideways range now can rise till 12250, 12500 on the upside for the short-term. Immediate Support is seen near 11700 , 11500 and 11000 levels .All technical indicators are turning up from oversold condition indicate prices can turn up in the next coming sessions.

Fresh call: Buy TMC December NCDEX 11800-11780, Stop loss below 11600, Target 12000, 12250/12500

Please read the important disclaimer on the last page

Weekly Technical Report – Agri Commodities

GUR (MZR) NCDEX NOVEMBER- 2010 (CMP- 985.4)

Trend: Sideways to mildly bullish

Tech view: Gur remained sideways to bullish in the last week expected to remain same above 960 levels. One can buy Gur on every dip near 960 .Immediate support is seen near 960, 950 and 930 levels. Immediate Resistance is seen near 990, 1000 and 1025. All technical indicators are turning up indicate prices to rise further up in the next coming sessions.

Please read the important disclaimer on the last page

Weekly Technical Report – Agri Commodities

CHILLI(GTR) NCDEX NOVEMBER- 2010 (CMP-4984)

Trend: Bullish

Tech view: Chilli remained bullish in last weeks and expected to remain same for this week. One can use every dip towards 4850 to accumulate for a potential target of 5000 on the upside . Immediate support is seen near 4850, 4700 and 4600levels. Immediate Resistance is seen near 5000 and 5100 levels . All technical indicators are turning up indicate prices to rise in the next coming sessions.

Fresh call: Buy Chilli November NCDEX 4850-4800 , Stop loss below 4750, Target 5000/5100

Please read the important disclaimer on the last page

Weekly Technical Report – Agri Commodities

MENTHOIL MCX NOVEMBER-2010 (CMP-1167.8)

Trend: Sideways to mildly bullish

Tech view: Mentha Oil remained bullish in the last week. We expect the momentum to remain same for this week with immediate supports near 1050, where we recommend to accumulate for a potential upside target of 1200 and 1250. All technical indicators are in overbought condition, hence we caution bull traders to avoid aggressive buying in the next trading sessions.

Fresh call: Buy Mentha oil November NCDEX 1137- 1130 Stop loss below 1115, Target 1200, 1225

Please read the important disclaimer on the last page

Weekly Technical Report – Agri Commodities

STEEL LONG NCDEX DECEMBER-2010 (CMP-25230)

Trend: Sideways

Tech view: Steel remained in sideways to mildly bearish in the last week and expect to remain same for this week. Immediate support is seen near 25000, 24750 and 24500 levels. Immediate resistances are seen near 25500, 26000 and 26200 levels. All technical indicators are in oversold condition and turning sideways indicates prices to can rise to adjust the oversold condition in the next coming sessions.

Please read the important disclaimer on the last page

Weekly Technical Report – Agri Commodities

Please read the important disclaimer on the last page

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