Daily Newsletter Newsletter-Agri Agri Commodity 22/07/2011
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MARKET WRAP Chana drops on profit booking Jeera trades higher on export demand Pepper gains on falling arrivals Oilseeds, soy oil rise on demand & positive global cues Guar extend gains, hits contract high Turmeric edges higher short covering Mentha oil falls on profit booking
Price trend of Turmeric is likely to depend on distribution of rainfall in the growing areas and demand for the spice from domestic and overseas buyers. As the pepper prices in the international market of all regions are at same levels there is likelihood that overseas buyers might place fresh orders in the domestic market in the short term. Jeera prices in the intraday are likely to trade firm due to fresh export enquiries from overseas buyers particularly China. Soy oil prices at Indian commodity bourses might recover from the previous fall on back of improving demand for edible oils for biodiesel purposes. Chana futures are likely to trade firm owing to improved demand from local buyers amidst reduced arrivals in the domestic. The Cardamom August futures are expected to continue to trade up on fresh buying. Export demand from gulf is expected to support the prices. Guar futures may trade firm owing to robust export demand. However, good rainfall in the major guar growing districts of Rajasthan in coming days might cap the gains in the short term. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (AUG) Trend Strategy Resistance
• Consolidate • Buy on dips • R2 - 890 • R1 - 880 • S1 - 845 • S2 - 830
Support
GUARGUM (AUG) Trend
• Bullish • Buy on dips
Strategy
CHANA (AUG AUG) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 3030 • R1 - 3000
Support
• S1 - 2940 • S2 - 2900
GUARSEED (AUG AUG) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 14200 • R1 - 13950
Resistance
• R2 - 4450 • R1 - 4400
Support
• S1 - 13500 • S2 - 13250
Support
• S1 - 4250 • S2 - 4180
JEERA (AUG) Trend Strategy
• Bullish • Buy on dips
MENTHA OIL (JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 17000 • R1 - 16600
Resistance
• R2 - 1170 • R1 - 1150
Support
• S1 - 15950 • S2 - 15700
Support
• S1 - 1110 • S2 - 1090
PEPPER (AUG) Trend Strategy
• Consolidate • Buy on dips
MUSTARD SEED (AUG AUG) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 29200 • R1 - 28600
Resistance
• R2 - 3030 • R1 - 3005
Support
• S1 - 27900 • S2 - 27200
Support
• S1 - 2950 • S2 - 2910
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SOYABEAN (AUG)) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (AUG AUG) Trend Strategy
• Bearish • Sell on high
Resistance
• R2 - 2465 • R1 - 2435
Resistance
• R2 - 7400 • R1 - 7250
Support
• S1 - 2350 • S2 - 2320
Support
• S1 - 7000 • S2 - 6850
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