Daily Newsletter-Agri Commodity 22/05/2012
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MARKET WRAP RM Seed tumbles nearly 2% on poor spot demand and higher supply. Pepper remains up on strong domestic demand, prices up 1%. Soya bean declines 1% on profit booking, prices closed low at 3377.
Chana prices falls nearly 2.2% on profit booking and sluggish demand in spot market. Trend may remain negative for the next trading session. Jeera traded with bearish bias due to weak export demand. Trend will remains bearish in the next trading session. Turmeric gains 0.8 % on good spot demand. Prices closed near 4100.
COMMODITY
P. CLOSE
LAST CLOSE
NET CHANGE
% CHANGE
CARDAMOM
1,346.00
1,339.00
-7.00
-0.52
CHANA
4,284.00
4,175.00
-109.00
-2.54
GUR
1,140.00
1,121.00
-19.00
-1.67
JEERA
13,500.00
13,452.00
-48.00
-0.36
MENTHA OIL
1,517.00
1,457.00
-60.00
-3.96
PEPPER
39,830.00
40,320.00
490.00
1.23
POTATO
1,094.00
1,089.00
-5.00
-0.46
RM SEED
3,807.00
3,737.00
-70.00
-1.84
SOYABEAN
3,413.00
3,367.00
-46.00
-1.35
TURMERIC
4,054.00
4,086.00
32.00
0.79
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TECHNICAL VIEW CARDAMOM (JUNE) Trend
•Consolidate • Buy on dips
Strategy Resistance Support
• R2 - 1360 • R1 - 1346 • S1 - 1332 • S2 - 1318
CHANA (JUNE) Trend Strategy Resistance
• R2 - 4280 • R1 - 4210
Support
• S1 - 4140 • S2 - 4070
GUR (JUNE) Trend
• Consolidate • Sell on highs
Strategy
• Consolidate • Buy on dips
POTATO (JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 1142 • R1 - 1128
Resistance
• R2 - 1110 • R1 - 1096
Support
• S1 - 1114 • S2 - 1100
Support
• S1 - 1082 • S2 - 1068
JEERA (JUNE) Trend
Strategy
• Consolidate • Sell on highs
MENTHA OIL (MAY) Trend
Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 13902 • R1 - 13602
Resistance
• R2 - 1496 • R1 - 1470
Support
• S1 - 13302 • S2 - 13002
Support
• S1 - 1444 • S2 - 1418
PEPPER (JUNE) Trend Strategy
• Bullish • Buy on dips
RM SEED (JUNE) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 41350 • R1 - 40650
Resistance
• R2 - 3847 • R1 - 3772
Support
• S1 - 39990 • S2 - 39290
Support
• S1 - 3702 • S2 - 3627
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SOYABEAN (JUNE) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 3442 •R1 - 3392
Resistance
• R2 - 4236 • R1 - 4136
Support
• S1 - 3342 • S2 - 3292
Support
• S1 - 4036 • S2 - 3936
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