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Daily Newsletter Newsletter-Agri Commodity 15/01/2011

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MARKET WRAP Turmeric inches down Pepper trade down on profit booking Jeera up on lower level buying Soy oil up on low imports Guar up more than 2% on firm demand Chana hits one month high Soybean up on meal exports

Turmeric prices will depend on demand from the domestic and overseas buyers and arrivals in the domestic market. Buyers of Jeera are adopting a wait and watch stance, expecting prices to soften further in the near term on the impending arrivals starting next week. Pepper prices will depend on demand from the overseas and domestic market and fresh arrivals pattern in the physical market. Domestic and export demand for soy meal is emerging and leading to price surge. However, rise could be limited tracking weak overseas market. 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. Guar prices are expected to move higher from the current levels as the arrivals will continue to decline with harvests nearing its end, while demand from the overseas market may see an improvement in the coming weeks. The imports of Chana have declined as the quality of produce in Australia is damaged. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (FEB) Trend Strategy Resistance

• Consolidate • Sell on highs • R2 - 1610 • R1 - 1590 • S1 - 1515 • S2 - 1500

Support

GUARGUM (JAN) Trend Strategy

• Bullish • Buy on dips

CHANA (JAN) Trend Strategy

•Consolidate Consolidate • Buy on dips

Resistance

• R2 - 2610 • R1 - 2590

Support

• S1 - 2560 • S2 - 2545

GUARSEED (JAN JAN) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 7000 • R1 - 6900

Resistance

• R2 - 2630 • R1 - 2595

Support

• S1 - 6740 • S2 - 6600

Support

• S1 - 2540 • S2 - 2500

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 - 1190

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 - 554

Resistance

• R2 - 23000 • R1 - 22700

Support

• S1 - 549 • S2 - 544

Support

• S1 - 22000 • S2 - 21700

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SOYABEAN (JAN)) Trend Strategy

• Consolidate • Buy on dips

TURMERIC (APR) (APR Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 2400 • R1 - 2385

Resistance

• R2 - 10260 • R1 - 10190

Support

• S1 - 2340 • S2 - 2315

Support

• S1 - 9930 • S2 - 9700

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