Daily Newsletter Newsletter-Agri Commodity 14/01/2011
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MARKET WRAP Turmeric declines on weak exports Pepper trade down on profit booking Jeera continue downtrend on weak demand Oilseeds, soy oil seen rising over 2 pct Guar falls on profit booking Chana eases on profit taking Soybean up on U.S market
Turmeric prices will depend on demand from the domestic and overseas buyers and arrivals in the 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. Indian traders are likely to buy soy oil futures anticipating lower import of soy oil from Argentina due to production shortfall on bad weather condition. Depleting stock level of Mentha and robust demand from local traders as well as exporters will give support to the market. At higher price levels profit booking can be seen on roll over of contracts of Guar as we are approaching January expiry. The rally in the consecutive four days shall prompt profit booking. 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 - 1545 • S2 - 1515
Support
GUARGUM (JAN) Trend Strategy
• Consolidate • Sell on highs
CHANA (JAN) Trend Strategy
•Consolidate Consolidate • Buy on dips
Resistance
• R2 - 2600 • R1 - 2580
Support
• S1 - 2545 • S2 - 2520
GUARSEED (JAN JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 6900 • R1 - 6800
Resistance
• R2 - 2575 • R1 - 2542
Support
• S1 - 6540 • S2 - 6450
Support
• S1 - 2480 • S2 - 2440
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 - 1195
Support
• S1 - 13900 • 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 - 557 • R1 - 552
Resistance
• R2 - 23175 • R1 - 22800
Support
• S1 - 544 • S2 - 538
Support
• S1 - 22100 • S2 - 21800
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SOYABEAN (JAN)) Trend Strategy
• Consolidate • Sell on highs
TURMERIC (APR) (APR Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 2400 • R1 - 2370
Resistance
• R2 - 10260 • R1 - 10160
Support
• S1 - 2340 • S2 - 2315
Support
• S1 - 9900 • S2 - 9700
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