Daily Newsletter Newsletter-Agri Agri Commodity 20/06/2011
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MARKET WRAP Chana up on low arrivals Jeera rebounds from contract low Pepper falls on weak export demand Soy bean remains steady Guar down on bearish sentiments Mentha oil edges higher on industrial demand Cardamom falls on ample supply Turmeric up 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 - 850 • R1 - 835 • S1 - 805 • S2 - 790
Support
GUARGUM (JULY) Trend Strategy
• Consolidate • Buy on dips
CHANA (JULY LY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2695 • R1 - 2660
Support
• S1 - 2625 • S2 - 2590
GUARSEED (JULY LY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 10720 • R1 - 10600
Resistance
• R2 - 3360 • R1 - 3340
Support
• S1 - 10200 • S2 - 10050
Support
• S1 - 3285 • S2 - 3265
JEERA (JULY) Trend Strategy
• Bearish • Sell on high
MENTHA OIL (JU JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 14300 • R1 - 14100
Resistance
• R2 - 890 • R1 - 875
Support
• S1 - 13700 • S2 - 13550
Support
• S1 - 845 • S2 - 830
PEPPER (JULY) Trend Strategy
• Consolidate • Buy on dips
REFINED SOY OIL (JULY) ( Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 29700 • R1 - 29400
Resistance
• R2 - 645 • R1 - 640
Support
• S1 - 28900 • S2 - 28600
Support
• S1 - 630 • S2 - 625
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SOYABEAN (JULY)) Trend Strategy
• Consolidate • Sell on high
TURMERIC (JU JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2375 • R1 - 2350
Resistance
• R2 - 7600 • R1 - 7500
Support
• S1 - 2245 • S2 - 2225
Support
• S1 - 7280 • S2 - 7150
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