Daily Newsletter Newsletter-Agri Agri Commodity 08/07/2011
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MARKET WRAP Chana down on profit taking Jeera remains steady Pepper falls on profit booking Soybean, soy oil rise on meal exports Guar up on sowing worries Turmeric edges higher on short covering Mentha oil hit upper circuit
Turmeric futures are expected to trade on positive because Traders in Nizamabad, Erode market are getting good orders from upcountry buyers which might support the prices. Jeera futures are expected to continue the bearish trend on poor domestic demand. Lack of active buying at spot market is likely to pull down the prices. Indian prices are ruling in line with other major pepper producing countries. Due to heavy volatility in prices traders are not interested in holding the positions therefore, they are exiting their positions towards the end of the session. The gains in both guar seed and gum futures have been substantial during last week. Therefore traders might take advantage of these gains and might go for profit booking. Broad based selling in oilseeds complex in both domestic & international markets is keeping a check on the upside movement. The current predictions with respect to monsoon and sowing acreage point towards downward projections of Kharif output which may provide support to the prices. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (JULY) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 840 • R1 - 825 • S1 - 795 • S2 - 780
Support
GUARGUM (JULY) Trend
• Consolidate • Buy on dips
Strategy
CHANA (JULY JULY) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 2860 • R1 - 2830
Support
• S1 - 2760 • S2 - 2720
GUARSEED (JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 12000 • R1 - 11820
Resistance
• R2 - 3820 • R1 - 3780
Support
• S1 - 11500 • S2 - 11300
Support
• S1 - 3660 • S2 - 3590
JEERA (JULY) Trend Strategy
• Consolidate • Buy on dips
MENTHA OIL (JULY JULY) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 15300 • R1 - 15050
Resistance
• R2 - 1110 • R1 - 1090
Support
• S1 - 14500 • S2 - 14300
Support
• S1 - 1050 • S2 - 1030
PEPPER (JULY) Trend Strategy
• Consolidate • Sell on high
REFINED SOY OIL (JU JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 27800 • R1 - 27400
Resistance
• R2 - 650 • R1 - 645
Support
• S1 - 26300 • S2 - 25800
Support
• S1 - 635 • S2 - 630
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SOYABEAN (JULY)) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (JULY JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2330 • R1 - 2315
Resistance
• R2 - 7800 • R1 - 7700
Support
• S1 - 2275 • S2 - 2250
Support
• S1 - 7450 • S2 - 7350
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