Daily Newsletter Newsletter-Agri Agri Commodity 19/08/2011
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MARKET WRAP Turmeric edges lower on ample supply Guar gum and Seed corrects further Chana ends down on subdued demand Jeera edges lower on profit booking Soybean slumps on higher forecast Pepper ends down on profit taking Cardamom extends downtrend on fresh selling
Jeera in intraday is expected to trade sideways to negative due to profit booking while its neckline of head and shoulder pattern on the daily chart will support the prices at lower level. Guar seed is expected to trade negative to sideways due to fresh selling by the traders on the back of subdued demand in the spot market. Though, expectation of exports picking up in the near term will support the prices at lower level. Pepper futures are expected to trade sideways to positive due to limited stocks available in the market while exports demand will also support the prices in the near term. Soybean extended downtrend and ended lower while it is expected to trade sideways to lower due to better than expected crop harvest this year keeping sowing progress and better monsoon in mind. Chana futures is expected to trade negative to sideways due to profit booking owing to subdued demand in the
physical market and higher
arrival. Turmeric prices are expected to trade sideways to negative note owing to poor demand from the domestic market and rising supply from the producing regions. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (SEP) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 875 • R1 - 850 • S1 - 820 • S2 - 790
Support
GUARGUM (SEP) Trend
• Consolidate • Sell on high
Strategy
CHANA (SEP)) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 3170 • R1 - 3120
Support
• S1 - 3040 • S2 -2990 2990
GUARSEED (SEP SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 13900 • R1 - 13550
Resistance
• R2 - 4420 • R1 - 4350
Support
• S1 - 13150 • S2 - 12800
Support
• S1 - 4240 • S2 - 4180
JEERA (SEP) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (SEP SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 16200 • R1 - 15900
Resistance
• R2 - 1180 • R1 - 1160
Support
• S1 - 15200 • S2 - 14800
Support
• S1 - 1120 • S2 - 1090
PEPPER (SEP) Trend Strategy
• Consolidate • Buy on dips
MUSTARD SEED (SEP SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 33000 • R1 - 32200
Resistance
• R2 - 2950 • R1 - 2920
Support
• S1 - 31400 • S2 - 30700
Support
• S1 - 2880 • S2 - 2850
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SOYABEAN (SEP)) Trend Strategy
• Consolidate • Sell on high
TURMERIC (SEP SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2450 • R1 - 2420
Resistance
• R2 - 6400 • R1 - 6250
Support
• S1 - 2365 • S2 - 2340
Support
• S1 - 6050 • S2 - 5900
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