Daily Newsletter Newsletter-Agri Agri Commodity 02/08/2011
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MARKET WRAP Chana up on demand Jeera falls on increased supply Pepper fall on poor spot demand Oilseeds, soy oil rise on demand Guar down on profit taking Turmeric falls on higher stocks
Guar seed and gum futures are expected to trade downside as monsoon is likely to revive over the north-west region of India during this week. The revival of monsoon in Rajasthan is likely to support sowing of Chana which might have negative impact on market. However, the ongoing demand across physical markets along with projections about decline in production and exports from Canada by 28 per cent might limit the fall. Pepper futures in the intraday are expected to trade sideways to up due to lower arrivals in the domestic mandi. Demand from the domestic buyers ahead of festivals might keep prices supported in the short term. However, as the prices of Indian origin are being quoted at higher levels overseas buyers might stay away from Indian market thereby restricting major upside in the prices. Huge arrivals of Cardamom from fresh crop are likely to pressurize the prices. Soybean futures ended higher on account of lower existing carry over stock of soybean and improved demand from crushing industries as improved demand of edible oil ahead of festivals. RM Seed futures ended higher as improved demand from millers due to gains in other oilseeds and edible oils. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (AUG) Trend Strategy Resistance
• Consolidate • Buy on dips • R2 - 870 • R1 - 850 • S1 - 820 • S2 - 812
Support
GUARGUM (AUG) Trend
• Consolidate • Buy on dips
Strategy
CHANA (AUG AUG) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 3250 • R1 - 3200
Support
• S1 - 3110 • S2 - 3060
GUARSEED (AUG AUG) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 15200 • R1 - 14800
Resistance
• R2 - 4580 • R1 - 4500
Support
• S1 - 14300 • S2 - 13950
Support
• S1 - 4355 • S2 - 4300
JEERA (AUG) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (AUG AUG) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 16300 • R1 - 16000
Resistance
• R2 - 1115 • R1 - 1095
Support
• S1 - 15500 • S2 - 15300
Support
• S1 - 1050 • S2 - 1030
PEPPER (AUG)
MUSTARD SEED (AUG AUG)
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Trend Strategy
• Consolidate • Sell on high
Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 30000 • R1 - 29650
Resistance
• R2 - 3040 • R1 - 3010
Support
• S1 - 28800 • S2 - 28500
Support
• S1 - 2970 • S2 - 2950
SOYABEAN (AUG)) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2520 • R1 - 2490
Resistance
• R2 - 7370 • R1 - 7180
Support
• S1 - 2440 • S2 - 2420
Support
• S1 - 6980 • S2 - 6800
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