Daily Newsletter Newsletter-Agri Agri Commodity 15/06/2011
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MARKET WRAP Chana down on profit taking Jeera slumps on selling pressure Pepper falls on weak export demand Soy oil drops on weak global cues Guar down on rains Mentha oil plunges on profit booking Cardamom extend uptrend on active buying Turmeric bounces back on short covering
Jeera is expected to continue the bearish trend on poor domestic demand. Lack of active buying at spot market is likely to pull down the prices. Pepper is projected to continue the uptrend on emergence of fresh buying at lower levels. Lower stocks available across the spot markets might also support the prices. Reports of decline in production estimates of Indonesia and Brazil might support the prices. The soy oil might resume the bearish trend as the higher supplies of the edible oils across the globe as per the USDA report is expected to have negative impact. Chana fell as speculators booked profits at high levels, driven by a sluggish spot demand, increased arrivals from producing belts also led to fall in Chana prices. Cardamom is projected to trade slightly positive. Fresh buying at lower level is likely to support the prices. Export inquiries from Gulf amid upcoming festive season might support the prices. We expect guar seed and gum to retain its downtrend. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (JULY) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 830 • R1 - 815 • S1 - 785 • S2 - 770
Support
GUARGUM (JUNE) Trend
• Consolidate • Buy on dips
Strategy
CHANA (JUNE JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2580 • R1 - 2550
Support
• S1 - 2500 • S2 - 2470
GUARSEED (JUNE JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 10500 • R1 - 10350
Resistance
• R2 - 3290 • R1 - 3270
Support
• S1 - 10100 • S2 - 9990
Support
• S1 - 3220 • S2 - 3190
JEERA (JUNE) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (JUNE JUNE) Trend Strategy
• Bearish • Sell on high
Resistance
• R2 - 14100 • R1 - 13900
Resistance
• R2 - 860 • R1 - 845
Support
• S1 - 13500 • S2 - 13350
Support
• S1 - 815 • S2 - 800
PEPPER (JUNE) Trend Strategy
• Consolidate • Buy on dips
REFINED SOY OIL (JUNE JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 30300 • R1 - 29800
Resistance
• R2 - 650 • R1 - 645
Support
• S1 - 29200 • S2 - 28800
Support
• S1 - 635 • S2 - 629
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SOYABEAN (JUNE)) Trend Strategy
• Consolidate • Sell on high
TURMERIC (JUNE JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2380 • R1 - 2350
Resistance
• R2 - 7500 • R1 - 7350
Support
• S1 - 2285 • S2 - 2250
Support
• S1 - 7150 • S2 - 7000
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