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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