Daily Newsletter-Agri Commodity 08/10/2011
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MARKET WRAP Pepper up on fresh buying RM Seed rebound on fresh buying Turmeric up on fresh buying Jeera up on strong demand Mentha oil ends flat on positive bias Chana up on fresh buying Guar gum & seed extends downtrend Cardamom ends flat with positive bias
Pepper is expected to trade sideways to positive due to thin supply amid limited stock from producing region will support the price on lower levels. Turmeric is expected trade sideways to positive due to strong domestic demand and export demand and short arrival in the market amid ongoing festival season will support the price on lower level. Cardamom is expected to trade sideways to positive due to positive demand outlook in the market and higher export may support the prices.
Jeera is likely to trade sideways to positive due to strong
demand in the market while weak export higher arrival from fresh crop will pressurize the prices on higher level. Mentha oil is expected to trade sideways to positive due to back on strong export demand and lower production estimate.
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TECHNICAL VIEW CARDAMOM (OCT) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 717 • R1 - 703 • S1 - 689 • S2 - 675
Support
GUARGUM (OCT) Trend
• Consolidate • Sell on high
Strategy
CHANA (OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 3105 • R1 - 3045
Support
• S1 - 2975 • S2 - 2915
GUARSEED (OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 13500 • R1 - 13250
Resistance
• R2 - 4490 • R1 - 4400
Support
• S1 - 12950 • S2 - 12700
Support
• S1 - 4320 • S2 - 4130
JEERA (OCT) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (OCT) Trend
Strategy
• Bullish • Buy on dips
Resistance
• R2 - 15200 • R1 - 14850
Resistance
• R2 - 1365 • R1 - 1340
Support
• S1 - 14550 • S2 - 14300
Support
• S1 - 1315 • S2 - 1290
PEPPER (OCT) Trend Strategy
• Consolidate • Sell on high
MUSTARD SEED (OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 37200 • R1 - 36500
Resistance
• R2 - 2840 • R1 - 2815
Support
• S1 - 35750 • S2 - 35050
Support
• S1 - 2755 • S2 - 2690
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SOYABEAN (OCT) Trend Strategy
• Consolidate • Sell on high
TURMERIC (OCT) Trend Strategy
• Bearish • Sell on high
Resistance
• R2 - 2115 • R1 - 2070
Resistance
• R2 - 5175 • R1 - 5075
Support
• S1 - 2030 • S2 - 1990
Support
• S1 - 4975 • S2 - 4875
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