Daily Newsletter-Agri Commodity 03/04/2012
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MARKET WRAP Turmeric hits lower circuit on ample supply in domestic market. Domestic demand decreases in Cardomom, prices down by 3.2%. RM Seed followed its uptrend, likely to touch 4000 level.
Chana opened gap up, but turned sideways and shows no major movement. Pepper was volatile, prices down in the early sessions but recovered at closing. Jeera closed below 12000, we can expect a downtrend in the next trading session. Potato up by 1.3% , closed above 1000 level.
COMMODITY
P. CLOSE
LAST CLOSE
NET CHANGE
% CHANGE
CARDAMOM
1,179.10
1,140.90
-38.20
-3.24
CHANA
3,534.00
3,605.00
71.00
2.01
GUR
1,201.00
1,178.50
-22.50
-1.87
JEERA
11,980.00
11,915.00
-65.00
-0.54
MENTHA OIL
2,499.00
2,475.00
-24.00
-0.96
PEPPER
39,255.00
39,290.00
35.00
0.09
POTATO
1,005.80
1,019.00
13.20
1.31
RM SEED
3,867.00
3,923.00
56.00
1.45
SOYABEAN
3,085.50
3,094.50
9.00
0.29
TURMERIC
4,148.00
3,984.00
-164.00
-3.95
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TECHNICAL VIEW CARDAMOM (APR) Trend
•Consolidate • Sell on highs
Strategy Resistance Support
• R2 - 1162 • R1 - 1148 • S1 - 1134 • S2 - 1120
CHANA (APR) Trend Strategy Resistance
• R2 - 3710 • R1 - 3640
Support
• S1 - 3570 • S2 -3500
GUR(APR) Trend
• Consolidate • Buy on dips
Strategy
• Consolidate • Buy on dips
POTATO(APR) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 1200 • R1 - 1185
Resistance
• R2 - 1040 • R1 - 1026
Support
• S1 - 1172 • S2 - 1157
Support
• S1 - 1012 • S2 - 998
JEERA (APR) Trend
Strategy
• Consolidate • Sell on highs
MENTHA OIL (APR) Trend
Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 12365 • R1 - 12065
Resistance
• R2 - 2514 • R1 - 2488
Support
• S1 - 11765 • S2 - 11465
Support
• S1 - 2462 • S2 - 2436
PEPPER (APR) Trend Strategy
• Consolidate • Sell on highs
RM SEED (APR) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 40320 • R1 - 39620
Resistance
• R2 - 4033 • R1 - 3958
Support
• S1 - 38960 • S2 - 38260
Support
• S1 - 3888 • S2 - 3813
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SOYABEAN (APR) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (MAY) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 3169 •R1 - 3119
Resistance
• R2 - 4134 • R1 - 4034
Support
• S1 - 3069 • S2 - 3019
Support
• S1 - 3934 • S2 - 3834
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