Daily Newsletter-Agri Commodity 29/05/2012
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MARKET WRAP Chana turned bullish on strong domestic demand and thin arrivals. Jeera declines nearly 1.5% on decrease in export demand. Mentha oil hits lower circuit of 4% on higher production estimates.
Cardamom recovered 2.5% on short recovering. A bullish trend is expected if prices crossed 1370 level. Pepper gains 1.7 on lower supply in spot market. It may cross 41000 level in the next trading session. RM seed advances 1.5% on short recovering. Turmeric continued its downtrend on higher supply and low demand.
COMMODITY
P. CLOSE
LAST CLOSE
NET CHANGE
% CHANGE
CARDAMOM
1,316.00
1,348.00
32.00
2.43
CHANA
4,140.00
4,265.00
125.00
3.02
GUR
1,137.00
1,115.00
-22.00
-1.93
JEERA
12,825.00
12,642.00
-183.00
-1.43
MENTHA OIL
1,298.00
1,246.00
-52.00
-4.01
PEPPER
39,750.00
40,415.00
665.00
1.67
POTATO
1,084.00
1,078.00
-6.00
-0.55
RM SEED
3,704.00
3,759.00
55.00
1.48
SOYABEAN
3,262.00
3,284.00
22.00
0.67
TURMERIC
3,808.00
3,726.00
-82.00
-2.15
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TECHNICAL VIEW CARDAMOM (JUNE) Trend
•Consolidate • Buy on dips
Strategy Resistance Support
• R2 - 1369 • R1 - 1355 • S1 - 1341 • S2 - 1327
CHANA (JUNE) Trend Strategy Resistance
• R2 - 4370 • R1 - 4300
Support
• S1 - 4230 • S2 - 4160
GUR (JUNE) Trend
• Consolidate • Sell on high
Strategy
• Consolidate • Buy on dips
POTATO (JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 1136 • R1 - 1122
Resistance
• R2 - 1099 • R1 - 1085
Support
• S1 - 1108 • S2 - 1094
Support
• S1 - 1071 • S2 - 1057
JEERA (JUNE) Trend
Strategy
• Bearish • Sell on high
MENTHA OIL (MAY) Trend
Strategy
• Consolidate • Sell on high
Resistance
• R2 - 13092 • R1 - 12792
Resistance
• R2 - 1285 • R1 - 1259
Support
• S1 - 12492 • S2 - 12192
Support
• S1 - 1233 • S2 - 1207
PEPPER (JUNE) Trend Strategy
• Bullish • Buy on dips
RM SEED (JUNE) Trend Strategy
• Consolidate •Sell on high
Resistance
• R2 - 41445 • R1 - 40745
Resistance
• R2 - 3869 • R1 - 3794
Support
• S1 - 40085 • S2 - 39385
Support
• S1 - 3724 • S2 - 3649
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SOYABEAN (JUNE) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 3359 •R1 - 3309
Resistance
• R2 - 3876 • R1 - 3776
Support
• S1 - 3259 • S2 - 3209
Support
• S1 - 3676 • S2 - 3576
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