Daily Newsletter Newsletter-Agri Commodity 12/01/2011
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MARKET WRAP Turmeric gains on fresh buying Pepper up on short covering Jeera falls on weak exports Soybean, soy oil up on global cues Guar edges up on falling arrivals Chana remains flat Mustard seed down
Turmeric prices in short term will depend on demand from the domestic and overseas buyers and arrivals in the domestic market. In short term Pepper prices will depend on global Black pepper availability and demand from the overseas and domestic market. Trend of Jeera will depend on price parity of various origins in international market and stocks of Jeera with local stockists. Bumper crop expectation of Mustard seed due to higher acreage had a bearish impact on the market. Spot markets witnessed a subdued trading due to severe winter across north India. Prices of Soy oil are expected to move northwards due to global shortage of vegetable oil couple with strong demand of edible oils. Reports of fall in production of Mentha and a rise in demand at lower levels is expected though traders are not ruling out intermittent profit booking at higher levels before demand rises again. The recovery in the weather conditions has led more arrivals of Guar to enter the market. The pressure of the arrivals to remain till the end of this month is likely to keep the market down. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (JAN) Trend Strategy Resistance
• Consolidate • Sell on highs • R2 - 1515 • R1 - 1485 • S1 - 1415 • S2 - 1370
Support
GUARGUM (JAN) Trend Strategy
• Consolidate • Buy on dips
CHANA (JAN) Trend Strategy
•Consolidate Consolidate • Buy on dips
Resistance
• R2 - 2590 • R1 - 2560
Support
• S1 - 2520 • S2 - 2500
GUARSEED (JAN JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 6745 • R1 - 6610
Resistance
• R2 - 2550 • R1 - 2530
Support
• S1 - 6475 • S2 - 6300
Support
• S1 - 2460 • S2 - 2430
JEERA (JAN) Trend Strategy
• Consolidate • Sell on highs
MENTHA OIL (JAN JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 14590 •R1 - 14470
Resistance
• R2 - 1230 • R1 - 1210
Support
•S1 - 14050 •S2 - 13750
Support
• S1 - 1160 •S2 - 1135
MUSTARD SEED (JAN) Trend Strategy
• Consolidate • Sell on highs
PEPPER (JAN)) Trend Strategy
• Consolidate • Sell on highs
Resistance
•R2 - 561 •R1 - 555
Resistance
•R2 - 23200 •R1 - 23000
Support
•S1 - 545 •S2 - 540
Support
•S1 - 22350 •S2 - 22000
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SOYABEAN (JAN)) Trend Strategy
• Consolidate • Sell on highs
TURMERIC (APR) (APR Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 2370 •R1 - 2350
Resistance
•R2 - 10500 •R1 - 10390
Support
•S1 - 2300 •S2 - 2280
Support
•S1 - 9900 •S2 - 9700
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