11/27/2010 04:59:00 PM
Your Advisor
Guar Prices closed above its 10-Day and its 20-Day EMA indicating an uptrend.
• 14-days RSI is at 70.85 and is in overbought region.
• MACD is in the positive territory.
Guar prices may trade range bound with weak sentiments in the short term (1-2 week) supply pressure due to increased arrivals may be overshadowed by the increased export demand. In the medium term trend would depend on the pace of arrivals, the demand from the overseas markets and the movement of Indian Rupee against US dollar.
Chana Prices on daily charts closed above its 10-days and its 20-days EMA, indicating an upward trend.
• 14-days RSI is at 67.2 and is in neutral region.
• MACD is in the positive territory.
In the present week, we expect Chana prices to remain firm. However, in the short to medium term (on month), Prices may remain weak due to rising arrivals of Kharif pulses. Long term trend in Chana futures may depend on the reports sowing of Rabi Pulses which is presently expected to be higher due to increase in MSP of Pulses and the climatic conditions prevailing at the time of maturity.
Turmeric TrendPrices closed above its 10-Day’s and its 20-Day’s EMA indicating bullish trend.
• 14-Day RSI is at 82.47 and is in overbought zone.
• MACD is in the positive territory.
Turmeric prices in the intraday are expected to trade firm due to lower arrivals and better offtakes at the domestic mandi. Prices in short term (till mid of December), will depend on demand from the domestic and overseas buyers and growth of sown crop. In the long to medium term (December end onwards), prices is likely to take cues from the turmeric stocks and production estimates reported by the spot market participants.
Jeera TrendPrices closed below its 10-Day but above its 20-Day EMA indicating sideways trend.
• The 14-Day RSI is at 54.4 and is in neutral zone.
• MACD is in the positive territory.
Jeera prices in the intraday will trade firm due to demand from the overseas and domestic buyers. In the short term (till mid of December), trend will depend on jeera price parity of various origins in international market and stocks of jeera with local stockists. In the medium to long term (December end onwards) prices are likely to take cues from sowing progress in India and demand from the overseas and domestic buyers.
Prices closed below its 10 Day and its 20 Day EMA, which indicates downward trend.
• 14-Day RSI is at 40.45, which is in neutral region.
• Daily MACD is in negative territory.
For Intraday, soybean prices are expected to lower on account of weak overseas market. However, for the long term, Prices are expected to move northward due to bullish USDA’s monthly supply and demand report as USDA unexpectedly lowered its yield estimate for the 2010/11 US soybean crop and lowered ending stocks of US soybean due to strong export demand, lower yield and better export figures of domestic soy meal in the month of October are also in favour of the bulls.
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