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Daily Newsletter Newsletter-Agri Agri Commodity 01/12/2010

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MARKET WRAP Turmeric gains on low stock Pepper plunges on profit selling Jeera up on technical’s Soybean, soy oil erase losses on global markets Guar down on output Chana weakens on low arrivals Cardamom rises on export demand

Turmeric future prices are likely to rise further in the next few weeks because of lower stock and strong domestic demand in the market. Jeera prices are expected to trade in a range. The refined soy oil futures are projected to trade on a negative note on fresh selling backed by bearish domestic fundamental factors. Continued rains in the major cardamom growing areas disturbed the harvesting process. The arrivals of the spice declined in the local markets as planters are holding on expectation of higher prices. The mustard seed futures are expected to resume downtrend based on bearish fundamental factors. Improvement in weather condition is leading to active sowing across key growing areas. The refined soy oil futures are projected to trade on a negative note on fresh selling backed by bearish domestic fundamental factors. Decline in soy meal prices is leading to postponement of active bean procurement by the crushers. Lack of export orders is the major bearish factor for the market.

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TECHNICAL VIEW CARDAMOM (DEC) Trend Strategy

• Bullish • Buy on dips

CHANA (DEC DEC) Trend Strategy

• Bullish • Sell on highs

Resistance

• R2 - 1250 • R1 - 1225

Resistance

• R2 - 2570 • R1 - 2557

Support

• S1 - 1170 • S2 - 1150

Support

• S1 - 2515 • S2 - 2500

GUARGUM (DEC) Trend Strategy

• Consolidate • Sell on highs

GUARSEED (DEC DEC) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 6100 • R1 - 6000

Resistance

• R2 - 2460 • R1 - 2435

Support

• S1 - 5800 • S2 - 5710

Support

• S1 - 2360 • S2 - 2320

JEERA (DEC) Trend Strategy

• Bearish • Sell on highs

MENTHA OIL (DEC DEC) Trend Strategy

• Consolidate • Sell on highs

Resistance

•R2 - 14620 •R1 - 14450

Resistance

• R2 - 1270 • R1 - 1250

Support

•S1 - 14170 •S2 - 13925

Support

• S1 - 1175 •S2 - 1200

MUSTARD SEED (DEC) Trend Strategy

• Consolidate • Sell on highs

PEPPER (DEC)) Trend Strategy

• Consolidate • Sell on highs

Resistance

•R2 - 570 •R1 - 565

Resistance

•R2 - 22360 •R1 - 22125

Support

•S1 - 560 •S2 - 554

Support

•S1 - 21625 •S2 - 21500

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SOYABEAN (DEC) Trend Strategy

• Consolidate • Sell on highs

TURMERIC (DEC) Trend Strategy

• Bullish • Sell on highs

Resistance

•R2 - 2270 •R1 - 2245

Resistance

•R2 - 16350 •R1 - 16030

Support

•S1 - 2205 •S2 - 2180

Support

•S1 - 15500 •S2 - 15250

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