Daily Newsletter Newsletter-Agri Agri Commodity 05/08/2011
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MARKET WRAP Cardamom drops on profit booking Chana falls on sluggish demand Jeera jumps on fresh buying Soy oil declines on global cues Turmeric hits contract low Guar seed settles lower on additional margin Pepper drops on profit booking
Mustard seed futures are expected to tread bearish path. The mustard price might follow the soy complex and the sluggish activities across spot markets. Indian soy oil prices might follow the declining trend of the Malaysian palm oil prices due to slack spot activities. Jeera prices in the intraday are likely to trade sideways to up due to improved buying by the market participants. Any fresh enquires from the local stockists and overseas buyers might support prices. There are expectations of exports and domestic demand from North India to pick up at lower levels that could result in higher trading activities for Pepper futures. Higher demand could also help in perking up price for Pepper and provide medium term firmness for the commodity rates. Trend for Chana in coming months is expected to remain very volatile with very high trading activities likely in the Spot markets from the demand ahead. The Cardamom August futures are expected to continue the losses on rising arrivals from fresh crop are likely to pressurize the prices. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (AUG) Trend Strategy Resistance
• Bearish • Sell on high • R2 - 835 • R1 - 825 • S1 - 790 • S2 - 770
Support
GUARGUM (AUG) Trend
• Consolidate • Sell on high
Strategy
CHANA (AUG AUG) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 3150 • R1 - 3115
Support
• S1 - 3030 • S2 - 3000
GUARSEED (AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 14800 • R1 - 14500
Resistance
• R2 - 4500 • R1 - 4415
Support
• S1 - 13900 • S2 - 13500
Support
• S1 - 4240 • S2 - 4150
JEERA (AUG) Trend Strategy
• Consolidate • Buy on dips
MENTHA OIL (AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 16650 • R1 - 16350
Resistance
• R2 - 1175 • R1 - 1160
Support
• S1 - 15900 • S2 - 15700
Support
• S1 - 1110 • S2 - 1090
PEPPER (AUG) Trend Strategy
• Consolidate • Sell on high
MUSTARD SEED (AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 30000 • R1 - 29650
Resistance
• R2 - 3000 • R1 - 2980
Support
• S1 - 28800 • S2 - 28500
Support
• S1 - 2930 • S2 - 2910
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SOYABEAN (AUG)) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2525 • R1 - 2495
Resistance
• R2 - 7100 • R1 - 6970
Support
• S1 - 2460 • S2 - 2440
Support
• S1 - 6690 • S2 - 6556
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