Daily Newsletter Newsletter-Agri Agri Commodity 05/07/2011
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MARKET WRAP Chana remains range bound Jeera down on profit sales Pepper settles higher on increased demand Oilseeds, soy oil witness positive sentiments Guar hits contract high for the 6th running day Turmeric falls further on short selling & weak demand Mentha up on demand
Turmeric futures are expected to trade on positive because Traders in Nizamabad, Erode market are getting good orders from upcountry buyers which might support the prices. Jeera futures are expected to continue the bearish trend on poor domestic demand. Lack of active buying at spot market is likely to pull down the prices. Indian prices are ruling in line with other major pepper producing countries. Due to heavy volatility in prices traders are not interested in holding the positions therefore, they are exiting their positions towards the end of the session. The gains in both guar seed and gum futures have been substantial during last week. Therefore traders might take advantage of these gains and might go for profit booking. Broad based selling in oilseeds complex in both domestic & international markets is keeping a check on the upside movement. The current predictions with respect to monsoon and sowing acreage point towards downward projections of Kharif output which may provide support to the prices. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (JULY) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 850 • R1 - 835 • S1 - 805 • S2 - 790
Support
GUARGUM (JULY) Trend
• Bullish • Buy on dips
Strategy
CHANA (JULY JULY) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 3000 • R1 - 2875
Support
• S1 - 2820 • S2 - 2780
GUARSEED (JULY JULY) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 12200 • R1 - 12050
Resistance
• R2 - 3900 • R1 - 3850
Support
• S1 - 11750 • S2 - 11600
Support
• S1 - 3750 • S2 - 3700
JEERA (JULY) Trend Strategy
• Consolidate • Buy on dips
MENTHA OIL (JULY JULY) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 15300 • R1 - 14900
Resistance
• R2 - 1015 • R1 - 1000
Support
• S1 - 14400 • S2 - 14000
Support
• S1 - 965 • S2 - 950
PEPPER (JULY) Trend Strategy
• Consolidate • Sell on high
REFINED SOY OIL (JU JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 27800 • R1 - 27500
Resistance
• R2 - 650 • R1 - 645
Support
• S1 - 26800 • S2 - 26300
Support
• S1 - 632 • S2 - 626
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SOYABEAN (JULY)) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (JULY JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2325 • R1 - 2300
Resistance
• R2 - 7850 • R1 - 7750
Support
• S1 - 2290 • S2 - 2265
Support
• S1 - 7500 • S2 - 7350
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