Intraday Tips | Commodity Tips | MCX Tips | Agri Commodity Tips

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Daily Newsletter Newsletter-Agri Agri Commodity 03/12/2010

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MARKET WRAP Turmeric hits lower circuit Pepper rises on fresh buying Jeera regains on short covering Oilseeds, soy oil extend gains on global cues Guar up on export demand Chana down on output view Guar drops on arrivals India rupee gains tracking equity market

Lower stocks of turmeric till the fresh arrivals expected in the month of February will keep the prices firm in the near month contract. Prices will also take cues from the demand from the overseas and domestic buyers. Demand for Jeera from the domestic and overseas buyers is expected in the coming days. Fundamentals supported the pepper to gain and are likely to push the commodity further upside in long term. Increasing export and domestic demand from pharmaceutical Industries kept supporting the spot rates of Mentha oil. Also the rates had fallen a lot over the last few days and a rise in demand at the lower levels supported the falling rates. It appears that prices of soya bean are consolidating on current levels and maybe we can witness some bounce back in prices in near future. Soy oil movement in domestic market depends a lot up on movement in the international markets.

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TECHNICAL VIEW CARDAMOM (DEC) Trend Strategy

• Bullish • Sell on highs

CHANA (DEC DEC) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 1260 • R1 - 1225

Resistance

• R2 - 2540 • R1 - 2520

Support

• S1 - 1180 • S2 - 1160

Support

• S1 - 2485 • S2 - 2475

GUARGUM (DEC) Trend Strategy

• Bearish • Sell on highs

GUARSEED (DEC DEC) Trend Strategy

• Bearish • Sell on highs

Resistance

• R2 - 5950 • R1 - 5890

Resistance

• R2 - 2430 • R1 - 2385

Support

• S1 - 5700 • S2 - 5650

Support

• S1 - 2320 • S2 - 2270

JEERA (DEC) Trend Strategy

• Consolidate • Buy on dips

MENTHA OIL (DEC DEC) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 15000 •R1 - 14915

Resistance

• R2 - 1310 • R1 - 1290

Support

•S1 - 13890 •S2 - 13750

Support

• S1 - 1250 •S2 - 1230

MUSTARD SEED (DEC) Trend Strategy

• Consolidate • Buy on dips

PEPPER (DEC)) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 582 •R1 - 576

Resistance

•R2 - 23000 •R1 - 22700

Support

•S1 - 566 •S2 - 562

Support

•S1 - 22250 •S2 - 21800

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SOYABEAN (DEC) Trend Strategy

• Consolidate • Sell on highs

TURMERIC (DEC) Trend Strategy

• Consolidate • Sell on highs

Resistance

•R2 - 2300 •R1 - 2280

Resistance

•R2 - 15300 •R1 - 15020

Support

•S1 - 2245 •S2 - 2235

Support

•S1 - 14425 •S2 - 14130

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