Daily Newsletter Newsletter-Agri Agri Commodity 30/06/2011
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MARKET WRAP Chana up on strong demand Jeera up on supply Pepper settles higher on increased demand Oilseeds, soy oil up on global cues Guar up on low stocks Turmeric up on lower sowing Mentha oil up on domestic demand
Turmeric futures are expected to trade on slightly positive because of drastic fall in prices growers are becoming reluctant in further selling of their produce. 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. 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. Monsoon is likely to reach Pakistan by Wednesday which might affect the Indian market sentiments. Broad based selling in oilseeds complex in both domestic & international markets is keeping a check on the upside movement. Cardamom futures are projected to continue the positive trend. Fresh buying at lower level is likely to support the prices. However, prices might take decent correction initially on profit selling on higher levels. Damage of recently sown pulse crops in Canada due to excessive rains has sent an alarming signal to the farmers not to prefer pulses for the ongoing sowing season. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (JULY) Trend Strategy Resistance
• Consolidate • Buy on dips • R2 - 880 • R1 - 865 • S1 - 835 • S2 - 820
Support
GUARGUM (JULY) Trend
• Consolidate • Buy on dips
Strategy
CHANA (JULY JULY) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 2825 • R1 - 2800
Support
• S1 - 2730 • S2 - 2710
GUARSEED (JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 11350 • R1 - 11200
Resistance
• R2 - 3650 • R1 - 3610
Support
• S1 - 11000 • S2 - 10800
Support
• S1 - 3540 • S2 - 3500
JEERA (JULY) Trend Strategy
• Consolidate • Buy on dips
MENTHA OIL (JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 14600 • R1 - 14400
Resistance
• R2 - 925 • R1 - 910
Support
• S1 - 14080 • S2 - 13900
Support
• S1 - 880 • S2 - 865
PEPPER (JULY) Trend Strategy
• Bearish • Sell on high
REFINED SOY OIL (JU JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 28500 • R1 - 27800
Resistance
• R2 - 650 • R1 - 643
Support
• S1 - 26650 • S2 - 26200
Support
• S1 - 630 • S2 - 625
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SOYABEAN (JULY)) Trend Strategy
• Consolidate • Sell on high
TURMERIC (JULY JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2350 • R1 - 2330
Resistance
• R2 - 7950 • R1 - 7800
Support
• S1 - 2285 • S2 - 2250
Support
• S1 - 7450 • S2 - 7350
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