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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