Daily Newsletter Newsletter-Agri Agri Commodity 16/08/2011
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MARKET WRAP Guar seed rise on limited stocks Turmeric slumps on subdued demand Soy oil rises on firm demand Jeera gains on weak arrivals Chana ends down marginally Pepper ends up on fresh buying Cardamom hits contract low on weak demand Mentha oil gains on buying at lower levels
Cardamom ended down on profit booking and may remain negative due to higher arrivals while favorable weather conditions may keep prices under pressure. Chana fell as speculators booked profits at high levels, driven by a sluggish spot demand, increased arrivals from producing belts also led to fall in Chana prices. Soy oil futures extended uptrend at the weekend on strong demand from the physical market amid weak arrivals. The prices are expected to trade sideways to up and will take cues from the international market. Jeera is expected to trade sideways to up on the back of buying at lower levels and short covering while weak arrivals are likely to support prices in the near future. Guarseed is expected to trade sideways to up on the back of limited stocks and on rising demand from the millers. Lower sowing due to uneven rains from Rajasthan also supported the uptrend. Guar gum is expected to sideways to up as the arrivals from stocks being low this week are likely to support the prices. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (AUG) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 730 • R1 - 710 • S1 - 675 • S2 - 660
Support
CHANA (AUG AUG) Trend Strategy Resistance
• R2 - 3090 • R1 - 3040
Support
• S1 - 2960 • S2 - 2910
GUARGUM (AUG) Trend
• Consolidate • Buy on dips
Strategy
• Consolidate • Sell on high
GUARSEED (AUG) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 14300 • R1 - 13900
Resistance
• R2 - 4460 • R1 - 4410
Support
• S1 - 13250 • S2 - 13000
Support
• S1 - 4300 • S2 - 4260
JEERA (AUG) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (AUG) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 15500 • R1 - 15200
Resistance
• R2 - 1150 • R1 - 1130
Support
• S1 - 14650 • S2 - 14400
Support
• S1 - 1090 • S2 - 1075
PEPPER (AUG) Trend Strategy
• Consolidate • Buy on dips
REFINED SOY OIL (AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 30700 • R1 - 30200
Resistance
• R2 - 690 • R1 - 675
Support
• S1 - 29500 • S2 - 29100
Support
• S1 - 650 • S2 - 635
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SOYABEAN (AUG)) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2520 • R1 - 2480
Resistance
• R2 - 6500 • R1 - 6370
Support
• S1 - 2425 • S2 - 2390
Support
• S1 - 6150 • S2 - 6050
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