Daily Newsletter Newsletter-Agri Commodity 27/12/2010
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MARKET WRAP Turmeric up on little stocks available Pepper zooms on short covering Jeera up on lower sowing Guar falls on poor demand Chana falls on output view Soy bean, Soy oil rise for 4th day on demand Mentha gains on high domestic demand
Prospects of improved export and domestic demand for Turmeric in coming weeks & reports of delayed arrivals of the new crop could support the falling rates. Short term trend would remain volatile as traders wait for corrections for buying opportunities. Traders are waiting for some more dips in Jeera before initiating fresh demand. Exports are expected to remain weak and that could keep pressure on the prices in the short term.
Reports of lower stocks of Pepper could support the price and traders are
anticipating both exports and domestic demand to rise in coming weeks. Mustard seed production may increase this year but a lot will depend upon the near term weather. At international levels, stocks are also expected to decline in major Canola producing countries. Supply situation is expected to remain very tight in these countries which may fuel the market sentiments. With arrivals of Guar remaining moderate, traders expect a rising demand in coming weeks could support the prices. Expected fall in production is likely to keep sentiments up for Mentha in the medium term. www.capitalheight.com
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TECHNICAL VIEW CARDAMOM (JAN) Trend Strategy
• Bullish • Buy on dips
CHANA (JAN) Trend Strategy
•Consolidate Consolidate • Sell on highs
Resistance
• R2 - 1575 • R1 - 1555
Resistance
• R2 - 2565 • R1 - 2540
Support
• S1 - 1500 • S2 - 1480
Support
• S1 - 2510 • S2 - 2480
GUARGUM (JAN) Trend Strategy
• Consolidate • Sell on highs
GUARSEED (JAN JAN) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 6450 • R1 - 6360
Resistance
• R2 - 2485 • R1 - 2455
Support
• S1 - 6140 • S2 - 6000
Support
• S1 - 2375 • S2 - 2350
JEERA (JAN) Trend Strategy
• Consolidate • Buy on dips
MENTHA OIL (DEC DEC) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 14450 •R1 - 14300
Resistance
• R2 - 1150 • R1 - 1135
Support
•S1 - 13880 •S2 - 13760
Support
• S1 - 1100 •S2 - 1070
MUSTARD SEED (JAN) Trend Strategy
• Consolidate • Buy on dips
PEPPER (JAN)) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 579 •R1 - 574
Resistance
•R2 - 22550 •R1 - 22260
Support
•S1 - 564 •S2 - 560
Support
•S1 - 21850 •S2 - 21600
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SOYABEAN (JAN)) Trend Strategy
• Bullish • Sell on highs
TURMERIC (APR) (APR Trend Strategy
• Consolidate • Sell on highs
Resistance
•R2 - 2350 •R1 - 2325
Resistance
•R2 - 11000 •R1 - 10850
Support
•S1 - 2300 •S2 - 2280
Support
•S1 - 10250 •S2 - 10000
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