Daily Newsletter-Agri Commodity 23/03/2012
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MARKET WRAP FMC restricts futures trade in guar complex. Pepper down by 4% on profit booking Soyabean closed flat, uptrend may reverse.
Chana down by 3 %, a sharp reversal has seen in chana. We can expect a downtrend in the next trading sessions. Jeera downtrend continues. Mentha oil hits lower circuit. Profit booking is seen in RM Seed, prices down by 1.9%. Uptrend ends in Pepper, sharp selling results in lower circuit.
COMMODITY
P. CLOSE
LAST CLOSE
NET CHANGE
% CHANGE
CARDAMOM
1,211.70
1,214.20
2.50
0.21
CHANA
3,891.00
3,736.00
-155.00
-3.98
GUARGUM
95,920.00
92,090.00
-3,830.00
-3.99
GUARSEED
29,900.00
28,710.00
-1,190.00
-3.98
JEERA
12,070.00
11,990.00
-80.00
-0.66
MENTHA OIL
2,174.20
2,105.00
-69.20
-3.18
PEPPER
42,300.00
40,610.00
-1,690.00
-4.00
RM SEED
3,936.00
3,859.00
-77.00
-1.96
SOYABEAN
2,913.50
2,896.00
-17.50
-0.60
TURMERIC
4,320.00
4,294.00
-26.00
-0.60
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TECHNICAL VIEW CARDAMOM (APR) Trend
•Consolidate • Buy on dips
Strategy Resistance Support
• R2 - 1235 • R1 - 1221 • S1 - 1207 • S2 - 1193
GUARGUM (APR) Trend
• Bullish • Buy on dips
Strategy Resistance
• R2 -93690 • R1 - 92490 • S1 - 91690 • S2 - 990490
Support
CHANA (APR) Trend Strategy Resistance
• R2 - 3841 • R1 - 3771
Support
• S1 - 3701 • S2 -3631
GUARSEED (APR) Trend Strategy
Strategy
• Consolidate • Buy on dips
• Bullish • Buy on dips
Resistance
• R2 - 29190 • R1 - 28830
Support
• S1 - 28590 • S2 - 28230
JEERA (APR) Trend
• Bearish • Sell on highs
MENTHA OIL (MAR) Trend
Strategy
• Bearish • Sell on Highs
Resistance
• R2 - 12440 • R1 - 12140
Resistance
• R2 - 2144 • R1 - 2118
Support
• S1 - 11840 • S2 - 11540
Support
• S1 - 2066 • S2 - 2092
PEPPER (APR) Trend Strategy
• Bearish • Sell on highs
RM SEED (APR) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 41640 • R1 - 40940
Resistance
• R2 - 3969 • R1 - 3894
Support
• S1 - 40280 • S2 - 39580
Support
• S1 - 3824 • S2 - 3749
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SOYABEAN (APR) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (MAY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2971 •R1 - 2921
Resistance
• R2 - 4444 • R1 - 4344
Support
• S1 - 2871 • S2 - 2821
Support
• S1 - 4244 • S2 - 4144
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