Weekly Technical Report – Agri Commodities 070610.pdf · Weekly Technical Report – Agri Commodities JEERA NCDEX July, 2010 (CMP-11652) Trend: Sideways to mildly bearish Tech view:

Weekly

Technical Analysis

June 7, 2010 Agro Commodities

CHANA NCDEX July , 2010 (CMP-2162)

Trend: Sideways

Tech view: Chana resumed its weakness below 2200 towards 2150 and also even 2100 .Immediate resistance seen near . We expect the momentum to continue below 2200. A weekly close below 2200 meant trend is sideways to bearish towards 2100 and even 2000 levels in coming weeks .Immediate support is seen near 2155 and 2100 . Immediate resistance is seen near 2200, 2260 and even 2300. All technical indicators are in oversold condition with divergence in RSI ,indicate prices to can rise up in the next coming sessions.

Weekly Technical Report – Agri Commodities

GUARGUM NCDEX July , 2010 (CMP- 4805)

Trend: Sideways to mildly bearish

Tech view: Guargum almost remained weak after the the bearish engulfing on weekly charts which indicates bearishness to continue for this week too. Immediate support is seen near 4700 ,4500 and 4300. Immediate resistance is seen near 5000 , 4900 and 4800 levels . .All technical indicators are turning down indicate prices to drift down in the next coming sessions.

Strategy : Sell Guargum July NCDEX below 4700 , Stop loss above 4900 , Target 4700, 4500

P lease read the important disclaimer on the last page


GUARSEED NCDEX July, 2010 (CMP-2239)

Trend: Sideways

Tech view: Guar seed corrected down to the levels from where the rally started with bearish engulfing in weekly charts in previous week and expect the momentum to continue ,indicate bearishness to resume for this week also . Immediate support is seen near 2196 which is 61.8% retracement of previous rally ,and below that guarseed would slide towards 2100 and even 2035levels . Immediate Resistance is seen near 2300 and 2375 levels. All technical indicators are turning down indicate prices to drift down in the next coming sessions.

Strategy : Sell Guarseed July NCDEX below 2190 , Stop loss above 2240 , Target 2100, 2040

Guarseed NCDEX Daily Chart



JEERA NCDEX July, 2010 (CMP-11652)


Tech view: Jeera fell towards 11565 which is expected in the last week report .Trend remains sideways to Mildly bearish for this week as charts show a bearish doji on daily charts. We expect the momentum to continue down with minors relief rallies for this week . Immediate resistance seen near 11848/900, 12300 levels .Immediate support seen near 11565and 11000 levels All technical indicators are turning down indicate prices to drift further down below 12950 in the next coming sessions.

Strategy : Sell Jeera July NCDEX below 11500 , Stop loss above 11650 , Target 11250, 11100

Jeera NCDEX Daily Chart



PEPPER NCDEX July, 2010 (CMP-15693)

Trend: Weak

Tech view: Pepper fell to new lows after breaking the H&S neckline .Trend remains sideways to bearish for this week too .Immediate support is seen near 15500 ,15100 and 14900 levels. Immediate Resistance is seen near 16000, 16500and 17000 levels. All technical indicators are on overbought condition indicate prices to can correct to adjust the overbought condition in the next coming sessions.

PEPPER NCDEX July Contract

(Weekly ) Supports 15500 ,15100 and 14900 levels : Resistances 16000, 16500and 17000 levels

Pepper NCDEX Daily Chart



TURMERIC NCDEX July , 2010 (CMP-14283)

Trend: Sideways

Tech view: Turmeric corrected down as expected in the previous report can take a support near 14085 which is almost last weeks low . any break /close below same shall see a fall back retest 13700 as well as 13200 levels . Immediate Resistance is seen near 14400 ,15100 and 15300 levels. All technical indicators are in sideways condition indicate prices can take a direction on a break of either 14400 or 14085 levels in the next coming sessions.

TURMERIC NCDEX July Contract

(Weekly ) Supports 140085, 13700 and 13200 levels : Resistances 14400 ,15100 and 15300 Levels

Strategy : Sell TMC July NCDEX below 14000 , Stop loss above 14200 , Target 13600/13400



STEEL LONG NCDEX July, 2010 (CMP-26070)

Trend: Sideways

Tech view: Steel long remained sideways to mildly bearish in the last week and expect to remain sideways to mildly bearish . Immediate support is seen near 23300 , 23000 and 22500 levels. Immediate Resistance is seen near 24100, 24500 and 25000 levels . All technical indicators are in oversold condition indicate prices to can rise up if immediate key resistance is taken out in the next coming sessions.



RM SEED NCDEX July , 2010 (CMP-522.6)

Trend: Sideways

Tech view: Rmseed rallied up towards 539 before correcting back towards 522levels . Immediate support is seen near 513 and below 513 prices seen drifting towards 509 and even 500 levels. Immediate Resistance is seen near 535, 539 and even 545 levels. All technical indicators are turning up indicate prices can rise up from supports in the next coming sessions.



SOYABEAN NCDEX June, 2010 (CMP-1939)

Trend: Sideways

Tech view: Soya bean almost remained sideways after the correction below 2000 levels . Immediate support is seen near 1930 and below 1930 can see prices drifting towards 1900 ,1870 and even 1800 levels. Immediate Resistance is seen near 2000, 2050 and 2075. All technical indicators are Sideways turning down indicate prices to can drift down in the next coming sessions.

SOYABEAN NCDEX June Contract

(Weekly ) Supports 1900 ,1870 and even 1800 levels : Resistances 2000, 2050 and 2075 levels

Strategy : Sell Soyabean July NCDEX below 1920 , Stop loss above 1970 , Target 1870 , 1820



REF .SOYA OIL NCDEX June, 2010 (CMP-447.2)


Tech view: Ref Soya oil remained sideways to bearish for the whole week ,expect the same with minor relief rallies . Immediate support is seen near445, 440 and below 440 close , can see prices drifting towards 435 and even 430 levels. Immediate Resistance is seen near 455, 460 and 467 levels. All technical indicators are turning down indicate prices to can drift down in the next coming sessions.



CRUDE PALM OIL (CPO) MCX June , 2010 (CMP-372.8)

Trend: Sideways

Tech view: Crude palm Oil corrected down and expect the momentum to continue for this week also . CPO shall be sideways between 380 and 367 levels. Immediate support is seen near 367, 360 and 352 levels. Immediate Resistance is seen near 380 , 400 and 410. All technical indicators are Sideways with volume decreasing indicate prices to can drift down in the next coming sessions.



MENTH OIL MCX June, 2010 (CMP-802.7)

Trend: Sideways

Tech view: Mentha Oil rallied up above 800 levels remained bullish through out the week and expect the same for this week . Immediate support is seen near 895 , 860 , 840 levels. Immediate Resistance is seen near 830and 850 levels. All technical indicators are Sideways turning up and are in in overbought condition indicate prices to drift down in the next coming sessions to adjust overbought condition before resuming its trend in the next trading sessions.

Strategy : Buy Mentha oil june MCX 800-798 , Stop loss Below 780 , Target 825 and 840




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DISCLAIMER: This report has been issued by AnandRathi Commodities Ltd., (A Part of Anand Rathi Group) which is regulated with FMC, India. The information herein was obtained from various sources; we do not guarantee its accuracy or completeness. Neither the information nor any opinion expressed constitutes an offer, or an invitation to make an offer, to buy or sell any Commodities or any options, future or other derivatives related to such Commodities (“related investment”). AnandRathi Commodities and its affiliated may trade for their own accounts as market maker/ jobber and /or arbitrageur in any Commodities of this issuer(s) or in related investments, and may be on

that statements regarding future prospects may not be realized. Investors should note that income from such Commodities, if any, may fluctuate and that each commodity’s price or value may rise or fall. Past performance is not necessarily a guide to future performance. Foreign currency rates of exchange may adversely affect the value, price or income of any Commodity or related investment mentioned in this report.

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Weekly Technical Report – Agri Commodities 070610.pdf · Weekly Technical Report – Agri Commodities JEERA NCDEX July, 2010 (CMP-11652) Trend: Sideways to mildly bearish Tech view: