Daily Newsletter Newsletter-Agri Agri Commodity 26/07/2011
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MARKET WRAP Chana hits contract high Jeera hits contract high Pepper up on thin supply Oilseeds slump on weak global cues Guar hits contract high on poor stocks Turmeric drops on profit taking Mentha up on low level buying
Weak production prospects of Chana in Canada are likely to have a positive impact over Indian market sentiments. However, the sowing progress has been good in Rajasthan, Maharashtra and M.P is likely to limit the gains. Turmeric prices in the intraday may trade bearish on account of improvement in area covered under Turmeric and dull trades at the domestic markets. Soy oil prices at Indian commodity bourses are likely to resume down trend on the supply glut situations across domestic markets. Declining retail demand for edible oil is impacting the prices majorly. Pepper futures in the intraday are expected to trade firm due to lower arrivals in the domestic mandi. Demand from the domestic buyers ahead of festivals might keep prices supported in the short term. 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 - 910 • R1 - 895 • S1 - 865 • S2 - 850
Support
GUARGUM (AUG) Trend
• Bullish • Buy on dips
Strategy
CHANA (AUG AUG) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 3150 • R1 - 3110
Support
• S1 - 3030 • S2 - 3000
GUARSEED (AUG AUG) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 15100 • R1 - 14760
Resistance
• R2 - 4750 • R1 - 4680
Support
• S1 - 14180 • S2 - 13940
Support
• S1 - 4500 • S2 - 4435
JEERA (AUG) Trend Strategy
• Bullish • Buy on dips
MENTHA OIL (JULY JULY) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 17150 • R1 - 16900
Resistance
• R2 - 1140 • R1 - 1120
Support
• S1 - 16360 • S2 - 16100
Support
• S1 - 1075 • S2 - 1055
PEPPER (AUG) Trend Strategy
• Consolidate • Buy on dips
MUSTARD SEED (AUG AUG) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 30700 • R1 - 30000
Resistance
• R2 - 3040 • R1 - 3000
Support
• S1 - 29200 • S2 - 28800
Support
• S1 - 2960 • S2 - 2925
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SOYABEAN (AUG)) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (AUG AUG) Trend Strategy
• Bearish • Sell on high
Resistance
• R2 - 2490 • R1 - 2465
Resistance
• R2 - 7600 • R1 - 7500
Support
• S1 - 2420 • S2 - 2400
Support
• S1 - 7220 • S2 - 7100
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