Daily Newsletter-Agri Commodity 31/03/2012
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MARKET WRAP Cardamom up on lower production estimates also holds support around 1130. Chana hits lower circuit on ample crop estimates this season. Demand decreases in Pepper, prices will remain under pressure.
Mentha Oil down in the early hours of trading due to expiry but then continue its upper trend and hits upper circuit. Jeera prices down again, vanishes yesterday’s recovery. Soya bean prices down by 1.5% due to profit booking. RM Seed down by 2.5%, prices remain under pressure due to weak demand.
COMMODITY
P. CLOSE
LAST CLOSE
NET CHANGE
% CHANGE
CARDAMOM
1,136.70
1,154.00
17.30
1.52
CHANA
3,620.00
3,476.00
-144.00
-3.98
GUR
1,209.50
1,210.00
0.50
0.04
JEERA
12,117.50
11,915.00
-202.50
-1.67
MENTHA OIL
2,278.30
2,369.40
91.10
4.00
PEPPER
40,605.00
38,985.00
-1,620.00
-3.99
POTATO
1,021.20
980.30
-40.90
-4.01
RM SEED
3,845.00
3,745.00
-100.00
-2.60
SOYABEAN
3,046.50
2,991.00
-55.50
-1.82
TURMERIC
4,214.00
4,202.00
-12.00
-0.28
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TECHNICAL VIEW CARDAMOM (APR) Trend
•Consolidate • Sell on highs
Strategy Resistance Support
• R2 - 1175 • R1 - 1161 • S1 - 1147 • S2 - 1133
CHANA (APR) Trend Strategy Resistance
• R2 - 3581 • R1 - 3511
Support
• S1 - 3441 • S2 -3371
GUR(APR) Trend
• Consolidate • Buy on dips
Strategy
POTATO(APR) Trend Strategy
Resistance
• R2 - 1231 • R1 - 1217
Resistance
Support
• S1 - 1203 • S2 - 1189
Support
JEERA (APR) Trend
Strategy
• Consolidate • Sell on highs
• Consolidate • Sell on highs
• Consolidate • Buy on dips • R2 - 1001 • R1 - 987 • S1 - 973 • S2 - 959
MENTHA OIL (MAR) Trend
Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 12365 • R1 - 12065
Resistance
• R2 - 2408 • R1 - 2382
Support
• S1 - 11765 • S2 - 11465
Support
• S1 - 2356 • S2 - 2330
PEPPER (APR) Trend Strategy
• Consolidate • Sell on highs
RM SEED (APR) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 40015 • R1 - 39315
Resistance
• R2 - 3855 • R1 - 3780
Support
• S1 - 38655 • S2 - 37955
Support
• S1 - 3710 • S2 - 3635
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SOYABEAN (APR) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (MAY) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 3066 •R1 - 3016
Resistance
• R2 - 4352 • R1 - 4252
Support
• S1 - 2966 • S2 - 2916
Support
• S1 - 4152 • S2 - 4052
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