Daily Newsletter Newsletter-Agri Agri Commodity 08/06/2011
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MARKET WRAP Chana up on demand Jeera hits contract low Pepper ends down on ample supply Soy oil, soybean fall on monsoon rain progress Guar falls on profit booking Mentha oil trades down on sluggish demand Cardamom up on short covering Turmeric settles lower on weak exports
Turmeric futures are expected to trade in a range bound manner taking cues from reduced buying at spot markets. 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. Pepper futures are projected to witness smart recovery on emergence of fresh buying at lower levels. The concerns about the early onset of the monsoon might raise the hopes for higher acreage under guar seed which might affect market sentiments for coming days. Good demand for Chana across the spot market ahead of upcoming festive season is likely to support the prices. Soy bean futures at NCDEX are expected to trade positive with limited gains. Cardamom futures are projected to trade slightly positive initially in coming week. Fresh buying at lower level is likely to support the prices. exporters are becoming active at spot market on export inquires from Gulf amid upcoming Ramadan festival in August. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (JUNE) Trend Strategy Resistance
• Bearish • Sell on highs • R2 - 775 • R1 - 760 • S1 - 730 • S2 - 715
Support
GUARGUM (JUNE) Trend
• Consolidate • Buy on dips
Strategy
CHANA (JUNE JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 2590 • R1 - 2570
Support
• S1 - 2520 • S2 - 2495
GUARSEED (JUNE JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 10500 • R1 - 10400
Resistance
• R2 - 3330 • R1 - 3290
Support
• S1 - 10100 • S2 - 9850
Support
• S1 - 3220 • S2 - 3180
JEERA (JUNE) Trend Strategy
• Consolidate • Sell on highs
MENTHA OIL (JUNE JUNE) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 14450 • R1 - 14200
Resistance
• R2 - 920 • R1 - 905
Support
• S1 - 13500 • S2 - 13350
Support
• S1 - 875 • S2 - 860
PEPPER (JUNE) Trend Strategy
• Consolidate • Buy on dips
REFINED SOY OIL (JUNE JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 30650 • R1 - 30000
Resistance
• R2 - 660 • R1 - 655
Support
• S1 - 29200 • S2 - 28800
Support
• S1 - 645 • S2 - 640
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SOYABEAN (JUNE)) Trend Strategy
• Consolidate • Sell on highs
TURMERIC (JUNE JUNE) Trend Strategy
• Bearish • Sell on highs
Resistance
• R2 - 2390 • R1 - 2365
Resistance
• R2 - 7500 • R1 - 7350
Support
• S1 - 2310 • S2 - 2290
Support
• S1 - 7050 • S2 - 6900
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