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Daily Newsletter Newsletter-Agri Agri Commodity 19/01/2011

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MARKET WRAP Turmeric weakens on sluggish demand Pepper drops on weak export demand Jeera falls on profit booking Chana declines on short selling Mentha surge on firm demand Guar hits contract high

Turmeric prices will depend on demand from the domestic and overseas buyers and arrivals in the domestic market. Jeera prices will depend on the demand from the overseas and domestic buyers and growth of the sown Jeera crop particularly in Rajasthan and Gujarat. Pepper prices will depend on demand from the overseas and domestic market and fresh arrivals pattern in the physical market. Soybean prices are expected to trade higher due to bullish USDA’s monthly and supply report as sharp decline in US ending stocks and concern of Argentina’s dry weather. Mustard seed prices are expected to trade slightly higher due to sharp rise in RM Seed meal exports in the month of December and higher prices of other oilseeds and edible oils. 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. Weather would be an important factor to be watched for as the final estimates on the Chana crop would mainly depend on the weather conditions during the crop development period. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (FEB) Trend Strategy Resistance

• Consolidate • Sell on highs • R2 - 1560 • R1 - 1530 • S1 - 1480 • S2 - 1440

Support

GUARGUM (FEB) Trend Strategy

• Consolidate • Buy on dips

CHANA (FEB)) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 2655 • R1 - 2625

Support

• S1 - 2580 • S2 - 2550

GUARSEED (FEB FEB) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 7080 • R1 - 7000

Resistance

• R2 - 2700 • R1 - 2680

Support

• S1 - 6845 • S2 - 6770

Support

• S1 - 2640 • S2 - 2620

JEERA (FEB) Trend Strategy

• Consolidate • Buy on dips

MENTHA OIL (JAN JAN) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 15300 • R1 - 15100

Resistance

• R2 - 1210 • R1 - 1195

Support

• S1 - 14800 • S2 - 14600

Support

• S1 - 1160 • S2 - 1145

MUSTARD SEED (JAN) Trend Strategy

• Consolidate • Sell on highs

PEPPER (FEB)) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 570 • R1 - 565

Resistance

• R2 - 23500 • R1 - 23200

Support

• S1 - 554 • S2 - 550

Support

• S1 - 22650 • S2 - 22450

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SOYABEAN (FEB)) Trend Strategy

• Consolidate • Buy on dips

TURMERIC (APR) (APR Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 2515 • R1 - 2485

Resistance

• R2 - 10160 • R1 - 10060

Support

• S1 - 2450 • S2 - 2430

Support

• S1 - 9860 • S2 - 9760

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