Daily Newsletter Newsletter-Agri Commodity 13/01/2011
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MARKET WRAP Turmeric declines on weak exports Pepper drops on profit booking Jeera falls on weak exports Oilseeds, Soy oil fall on global markets Guar gains on falling arrivals Chana up on local demand Soybean declines on profit selling
Turmeric prices will depend on demand from the domestic and overseas buyers and arrivals in the domestic market. Pepper prices will depend on global availability and demand from the overseas & domestic market. Trend of Jeera will depend on price parity of various origins in international market & stocks of Jeera with local stockists. Good crop expectation of RM 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. Bad weather condition in American countries is likely to worsen world soy supply situation. Depleting stock level of Mentha and robust demand from local traders as well as exporters will give support to the market. 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. The imports of Chana have declined as the quality of produce in Australia is damaged and unfit for consumption. The upside is limited as the demand across the spot markets is lower. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (FEB) Trend Strategy Resistance
• Consolidate • Sell on highs • R2 - 1635 • R1 - 1600 • S1 - 1515 • S2 - 1475
Support
GUARGUM (JAN) Trend Strategy
• Consolidate • Buy on dips
CHANA (JAN) Trend Strategy
•Consolidate Consolidate • Buy on dips
Resistance
• R2 - 2630 • R1 - 2600
Support
• S1 - 2560 • S2 - 2545
GUARSEED (JAN JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 6900 • R1 - 6800
Resistance
• R2 - 2580 • R1 - 2550
Support
• S1 - 6605 • S2 - 6520
Support
• S1 - 2500 • S2 - 2470
JEERA (JAN) Trend Strategy
• Consolidate • Sell on highs
MENTHA OIL (JAN JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 14450 • R1 - 14300
Resistance
• R2 - 1210 • R1 - 1180
Support
• S1 - 13930 • S2 - 13750
Support
• S1 - 1135 • S2 - 1120
MUSTARD SEED (JAN) Trend Strategy
• Consolidate • Sell on highs
PEPPER (JAN)) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 557 • R1 - 551
Resistance
• R2 - 23200 • R1 - 23000
Support
• S1 - 543 • S2 - 537
Support
• S1 - 22350 • S2 - 22000
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SOYABEAN (JAN)) Trend Strategy
• Consolidate • Sell on highs
TURMERIC (APR) (APR Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 2370 • R1 - 2350
Resistance
• R2 - 10260 • R1 - 10150
Support
• S1 - 2300 • S2 - 2280
Support
• S1 - 9900 • S2 - 9700
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