Daily Newsletter-Agri Commodity 17/05/2012
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MARKET WRAP Cardamom edges higher on thin arrivals and spot demand. Chana remains firm on lower output concerns. Turmeric advances 2.2% on fresh buying at lower rates.
Jeera has shown mixed trend. It opened gap up but declines to 13750 then recovered and closed almost flat at 13895. Mentha Oil hits upper circuit but declined in the end due to profit booking. RM Seed traded with bearish bias, prices closed negative 1.1%. Soya bean falls 2.2% on weak spot demand. June contract closed at 3309.
COMMODITY
P. CLOSE
LAST CLOSE
NET CHANGE
% CHANGE
CARDAMOM
1,294.00
1,314.00
20.00
1.55
CHANA
4,311.00
4,347.00
36.00
0.84
GUR
1,190.00
1,194.00
4.00
0.34
JEERA
13,825.00
13,895.00
70.00
0.51
MENTHA OIL
1,419.00
1,402.00
-17.00
-1.20
PEPPER
38,075.00
38,055.00
-20.00
-0.05
POTATO
1,104.00
1,081.00
-23.00
-2.08
RM SEED
3,869.00
3,826.00
-43.00
-1.11
SOYABEAN
3,384.00
3,309.00
-75.00
-2.22
TURMERIC
3,950.00
4,038.00
88.00
2.23
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TECHNICAL VIEW CARDAMOM (JUNE) Trend
•Consolidate • Buy on dips
Strategy Resistance Support
• R2 - 1335 • R1 - 1321 • S1 - 1307 • S2 - 1293
CHANA (JUNE) Trend Strategy Resistance
• R2 - 4452 • R1 - 4382
Support
• S1 - 4312 • S2 - 4242
GUR (JUNE) Trend
• Consolidate • Sell on highs
Strategy
• Bullish • Buy on dips
POTATO (JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 1215 • R1 - 1201
Resistance
• R2 - 1102 • R1 - 1088
Support
• S1 - 1187 • S2 - 1173
Support
• S1 - 1074 • S2 - 1060
JEERA (JUNE) Trend
Strategy
• Consolidate • Buy on dips
MENTHA OIL (MAY) Trend
Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 14345 • R1 - 14045
Resistance
• R2 - 1441 • R1 - 1415
Support
• S1 - 13745 • S2 - 13445
Support
• S1 - 1389 • S2 - 1363
PEPPER (JUNE) Trend Strategy
• Consolidate • Sell on highs
RM SEED (JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 39085 • R1 - 38385
Resistance
• R2 - 3936 • R1 - 3861
Support
• S1 - 37725 • S2 - 37025
Support
• S1 - 3791 • S2 - 3716
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SOYABEAN (JUNE) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 3384 •R1 - 3334
Resistance
• R2 - 4188 • R1 - 4088
Support
• S1 - 3284 • S2 - 3234
Support
• S1 - 3988 • S2 - 3888
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