Daily Newsletter Newsletter-Agri Agri Commodity 12/08/2011
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MARKET WRAP Chana ends down on profit booking Soy oil edges higher on arrival pressures Pepper edges lower on demand concern Jeera extends downtrend on higher arrivals Turmeric ends up marginally Guar Gum ends down on profit booking Mentha oil turns red due to demand concern
Chana in intraday is expected to trade sideways to negative due to profit booking and higher production y/y estimates though festive demand could support prices at lower level. Soy oil edged higher while it is expected to trade sideways to positive due to higher arrival pressures and export data though its upside can capped by profit booking. Pepper edged lower owing to profit booking at higher levels on the back of concerns of its demand in the short term. The prices will trade sideways to negative. Jeera prices are expected to trade sideways to negative owing to sluggish demand in the physical markets driven by higher arrivals from the producing regions. Export demand from the overseas market is not up to the level, it will also decide trend of the Jeera prices. Turmeric ended marginally up on the back of short covering at lower level. Turmeric prices are expected to trade sideways to down while demand ahead of festive season could support the prices. Guar gum ended down due to profit booking while it is expected to trade sideways to up due to higher acreage and fresh buying. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (AUG) Trend Strategy Resistance
• Bearish • Sell on high • R2 - 780 • R1 - 760 • S1 - 735 • S2 - 720
Support
GUARGUM (AUG) Trend
• Consolidate • Sell on high
Strategy
CHANA (AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 3050 • R1 - 3010
Support
• S1 - 2925 • S2 - 2880
GUARSEED (AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 13900 • R1 - 13550
Resistance
• R2 - 4450 • R1 - 4310
Support
• S1 - 12900 • S2 - 12550
Support
• S1 - 4150 • S2 - 4000
JEERA (AUG) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 15500 • R1 - 15050
Resistance
• R2 - 1160 • R1 - 1135
Support
• S1 - 14450 • S2 - 13950
Support
• S1 - 1090 • S2 - 1060
PEPPER (AUG) Trend Strategy
• Consolidate • Sell on high
MUSTARD SEED (AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 30150 • R1 - 29800
Resistance
• R2 - 2930 • R1 - 2900
Support
• S1 - 29250 • S2 - 28900
Support
• S1 - 2850 • S2 - 2825
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SOYABEAN (AUG)) Trend Strategy
• Consolidate • Sell on high
TURMERIC (AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2465 • R1 - 2435
Resistance
• R2 - 6400 • R1 - 6300
Support
• S1 - 2380 • S2 - 2350
Support
• S1 - 6050 • S2 - 5900
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