Daily Newsletter Newsletter-Agri Agri Commodity 04/08/2011
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MARKET WRAP Mentha oil regains on firm demand Cardamom drops on profit booking Chana falls on sluggish demand Jeera jumps on fresh buying Soybean gains on global cues Turmeric hits contract low Guar seed settles lower on additional margin
There are expectations of exports and domestic demand from North India to pick up at lower levels that could result in higher trading activities for Pepper futures. Higher demand could also help in perking up price for Pepper and provide medium term firmness for the commodity rates. Jeera futures may remain range-bound facing resistance near 17000 levels. Export demand from Bangladesh and Middle East countries is completed, which is again unsupportive for the spot prices. In Indian scenario, it appears that some more upside may be seen in Soy oil till mid-August, thereafter prices may witness correction. Overall trend is likely to remain very volatile in the coming weeks. We expect the overall trend of Guar to remain Bullish in view of the rising exports and the delayed Monsoon arrivals. Trend for Chana in coming months is expected to remain very volatile with very high trading activities likely in the Spot markets from the demand ahead. The Cardamom August futures are expected to continue the losses on rising arrivals from fresh crop are likely to pressurize the prices. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (AUG) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 845 • R1 - 830 • S1 - 800 • S2 - 780
Support
GUARGUM (AUG) Trend
• Consolidate • Buy on dips
Strategy
CHANA (AUG AUG) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 3160 • R1 - 3125
Support
• S1 - 3030 • S2 - 3000
GUARSEED (AUG AUG) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 15100 • R1 - 14800
Resistance
• R2 - 4540 • R1 - 4495
Support
• S1 - 14200 • S2 - 13930
Support
• S1 - 4350 • S2 - 4300
JEERA (AUG) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (AUG AUG) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 16600 • R1 - 16300
Resistance
• R2 - 1175 • R1 - 1160
Support
• S1 - 15700 • S2 - 15500
Support
• S1 - 1110 • S2 - 1090
PEPPER (AUG) Trend Strategy
• Consolidate • Sell on high
MUSTARD SEED (AUG AUG) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 30000 • R1 - 29650
Resistance
• R2 - 3040 • R1 - 3005
Support
• S1 - 28800 • S2 - 28500
Support
• S1 - 2960 • S2 - 2940
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SOYABEAN (AUG)) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2525 • R1 - 2495
Resistance
• R2 - 7100 • R1 - 6970
Support
• S1 - 2460 • S2 - 2440
Support
• S1 - 6690 • S2 - 6556
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