MARKET WRAP

CHANA

Arrivals in the benchmark spot markets are likely to remain low & high demand for upcoming festive season will support the prices to trade higher

Chana futures are expected to retain its positive as buying bsy retailers and millers might support the rise in prices.

TURMERIC

Turmeric futures are expected to trade very sluggish with negative bias in coming week in absence of fresh market cues from spot market.

Due to steep fall in prices growers are also becoming reluctant in further selling of their produce. However, weak domestic and export demand amid huge stocks is likely to limit the gains.

JEERA

Jeera prices will depend on the demand from the overseas & domestic buyers. Prices will also take cues from the production of this spice in Syria & Turkey the other major producers.

Jeera futures are forecast to continue the bearish trend on profit booking as overall trend is likely to remain sluggish amid prevailing poor domestic demand.

PEPPER

The pepper futures are forecast to continue the positive trend on fresh buying at lower levels. However, Higher Indian prices are keeping export demand away from India which might limit the sharp gains.

Lower stocks available across the spot markets might support the prices and reports of pepper production in Brazil and Indonesia is expected to be lower might also support the prices.

 TECHNICAL VIEW

CHANA VIEW

Trend: Consolidate | Strategy: Sell on High

R1- 3100, R2- 3170 | S1- 2910, S2- 2860

TURMERIC VIEW

Trend: Bearish | Strategy: Sell on High

R1- 6450, R2- 6600 | S1- 6050, S2- 5900

JEERA VIEW

Trend: Consolidate | Strategy: Sell on High

R1- 15350, R2- 15900 | S1- 14450, S2- 14000

PEPPER VIEW

Trend: Bullish | Strategy: Buy on Dips

R1- 30650, R2- 31600 | S1- 29300, S2- 28500

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