11/17/2010 05:17:00 PM
Your Advisor
Guar Prices closed above its 10-Day and its 20-Day EMA indicating an uptrend.
• 14-days RSI is at 77.2 and is moving towards overbought region.
• MACD is in the positive territory.
Guar futures may trade higher due to firm sentiments prevailing across physical markets. Emergence of demand for Guar gum due to fresh export enquiries may support Guar prices in the present week. However, prices may trade range
bound in the short term (2-3 weeks) as arrivals are expected to increase after mid November. 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 below its 10-days and its 20-days EMA, indicating downward trend.
• 14-days RSI is at 49.1 and is in neutral zone.
• MACD is in the negative territory.
Lower offtakes by the local stockists will keep Chana prices bearish in the intraday. Prices may continue to trade lower in the short term due to rising arrivals of Kharif pulses coupled with increasing area under Rabi Pulses (especially Chana). December onwards, 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.
Prices closed below its 10-Day but above its 20-Day EMA indicating bullish trend.
• The 14-Day RSI is at 57.6 and is in neutral region.
• MACD is in the positive territory.
Pepper prices in the intraday are expected to trade firm due to improved buying from local stockists. In the short term (till November), Pepper prices will depend on global Black pepper availability and demand from the overseas and domestic market. In the medium to long term (December onwards), price trend will depend on demand from the overseas and domestic market, pepper stocks with major producers and Black pepper production estimates of in India and Vietnam of 2011.
Prices closed above its 10-Day’s and its 20-Day’s EMA indicating bullish trend.
• 14-Day RSI is at 71.2 and is nearing the overbought region.
• MACD is in the positive territory.
Turmeric prices in the intraday are expected to trade sideways to up due to revival of demand from the overseas and domestic buyers. Prices in short term (till November), will depend on demand from the domestic and overseas buyers
and growth of sown crop. In the long to medium term (December onwards), prices is likely to take cues from the turmeric stocks and production estimates reported by the spot market participants.
