Daily Newsletter-Agri Commodity 18/05/2012
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MARKET WRAP Chana declines 2.4% on decrease in spot demand. Mentha Oil remains weak due to low industrial demand. Turmeric edges higher on good domestic demand.
Jeera traded low due to long recovering. Prices declines nearly half percent in MCX. Trend remains bearish in the next trading session. Pepper traded sideways, has shown no major movement and closed flat at 38030. RM Seed traded with negative bias and closed low at 3832. Trend remains weak in the next session.
COMMODITY
P. CLOSE
LAST CLOSE
NET CHANGE
% CHANGE
CARDAMOM
1,311.00
1,301.00
-10.00
-0.76
CHANA
4,326.00
4,223.00
-103.00
-2.38
GUR
1,195.00
1,177.00
-18.00
-1.51
JEERA
13,895.00
13,835.00
-60.00
-0.43
MENTHA OIL
1,424.00
1,406.00
-18.00
-1.26
PEPPER
38,100.00
38,030.00
-70.00
-0.18
POTATO
1,082.00
1,068.00
-14.00
-1.29
RM SEED
3,820.00
3,832.00
12.00
0.31
SOYABEAN
3,305.00
3,358.00
53.00
1.60
TURMERIC
4,038.00
4,130.00
92.00
2.28
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TECHNICAL VIEW CARDAMOM (JUNE) Trend
•Consolidate • Buy on dips
Strategy Resistance Support
• R2 - 1322 • R1 - 1308 • S1 - 1294 • S2 - 1280
CHANA (JUNE) Trend Strategy Resistance
• R2 - 4328 • R1 - 4258
Support
• S1 - 4188 • S2 - 4118
GUR (JUNE) Trend
• Consolidate • Sell on highs
Strategy
• Consolidate • Buy on dips
POTATO (JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 1198 • R1 - 1184
Resistance
• R2 - 1089 • R1 - 1075
Support
• S1 - 1170 • S2 - 1156
Support
• S1 - 1061 • S2 - 1047
JEERA (JUNE) Trend
Strategy
• Consolidate • Buy on dips
MENTHA OIL (MAY) Trend
Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 14285 • R1 - 13985
Resistance
• R2 - 1445 • R1 - 1419
Support
• S1 - 13685 • S2 - 13385
Support
• S1 - 1393 • S2 - 1367
PEPPER (JUNE) Trend Strategy
• Consolidate • Sell on highs
RM SEED (JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 39060 • R1 - 38360
Resistance
• R2 - 3942 • R1 - 3867
Support
• S1 - 37700 • S2 - 37000
Support
• S1 - 3797 • S2 - 3722
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SOYABEAN (JUNE) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 3433 •R1 - 3383
Resistance
• R2 - 4280 • R1 - 4180
Support
• S1 - 3333 • S2 - 3283
Support
• S1 - 4080 • S2 - 3980
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