Daily Newsletter-Agri Commodity 23/02/2012
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MARKET WRAP Chana extends up for 3rd consecutive day Jeera rebounds on short covering, up 1% Pepper sizzles up, hits upper circuit
Chana extended its uptrend for third consecutive day on the back of extended buying due to concerns of lower acreage and output as it added 68 pts or 1.92%. Mentha oil extended uptrend adding 25.5 pts or 1.56%. Jeera rebounded due to short covering at lower levels adding nearly 1% while Pepper hit upper circuit adding 44% or 1285 pts.
COMMODITY
P. CLOSE
LAST CLOSE
NET CHANGE
% CHANGE
CARDAMOM
828.50
841.10
12.60
1.52
CHANA
3,541.00
3,609.00
68.00
1.92
GUARGUM
49,346.00
49,150.00
-196.00
-0.40
GUARSEED
15,499.00
15,432.00
-67.00
-0.43
JEERA
13,804.00
13,930.00
126.00
0.91
MENTHA OIL
1,633.00
1,658.50
25.50
1.56
PEPPER
32,090.00
33,375.00
1,285.00
4.00
MUSTARD SEED
3,593.00
3,545.00
-48.00
-1.34
SOYABEAN
2,630.50
2,595.00
-35.50
-1.35
TURMERIC
4,704.00
4,686.00
-18.00
-0.38
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TECHNICAL VIEW CARDAMOM (MAR) Trend
• Consolidate • Buy on dips
Strategy Resistance Support
• R2 - 870 • R1 - 850 • S1 - 830 • S2 - 810
CHANA (MAR) Trend Strategy Resistance
• R2 - 3790 • R1 - 3650
Support
• S1 - 3570 • S2 - 3500
GUARGUM (MAR) Trend
• Consolidate • Buy on dips
Strategy
• Consolidate • Buy on dips
GUARSEED (MAR) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 50950 • R1 - 49550
Resistance
• R2 - 15950 • R1 - 15550
Support
• S1 - 48800 • S2 - 47150
Support
• S1 - 15300 • S2 - 14900
JEERA (MAR) Trend
Strategy
• Consolidate • Sell on high
MENTHA OIL (FEB) Trend
Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 14400 • R1 - 14080
Resistance
• R2 - 1700 • R1 - 1670
Support
• S1 - 13780 • S2 - 13480
Support
• S1 - 1640 • S2 - 1610
PEPPER (MAR) Trend Strategy
• Consolidate • Sell on high
MUSTARD SEED (MAY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 34400 • R1 - 33700
Resistance
• R2 - 3650 • R1 - 3580
Support
• S1 - 33050 • S2 - 32300
Support
• S1 - 3510 • S2 - 3430
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SOYABEAN (MAR) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (MAY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2670 • R1 - 2620
Resistance
• R2 - 4890 • R1 - 4750
Support
• S1 - 2570 • S2 - 2520
Support
• S1 - 4640 • S2 - 4510
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