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Daily Newsletter Newsletter-Agri Commodity 08/01/2011

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MARKET WRAP Turmeric drops on profit booking Pepper falls on sluggish exports; seen weak Jeera slips at end on poor exports Cardamom gains on short covering Soy oil tumbles on weak global cues guar falls on output view Mentha oil up on short covering

Turmeric prices in short term will depend on demand from the domestic and overseas buyers and growth of sown crop. Demand for Jeera from US and European countries are likely to shift towards India in coming weeks due to low stocks in the International markets. Export demand from South-East Asian countries is there. Any revival in demand of Pepper from the domestic stockists will however, provide support to the prices in the short term as the harvesting in Kerala is delayed. The guar gum buyers have already stocked enough to fulfill their export consignments, new export consignments shall also be backed off from registering at this higher price levels. The trend reversal can be seen if the prices cool off a bit. Chana prices may trade range bound with negative bias due to dull demand from the domestic buyers. Price gains may be capped on positive reports of sowing and rising arrivals of Kharif pulses. Mustard seed prices are expected to trade slightly lower due to higher production estimates of RM Seed amid favorable weather conditions. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (JAN) Trend Strategy Resistance

• Consolidate • Sell on highs • R2 - 1575 • R1 - 1547 • S1 - 1465 • S2 - 1325

Support

GUARGUM (JAN) Trend Strategy

• Consolidate • Buy on dips

CHANA (JAN) Trend Strategy

•Consolidate Consolidate • Buy on dips

Resistance

• R2 - 2590 • R1 - 2565

Support

• S1 - 2530 • S2 - 2510

GUARSEED (JAN JAN) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 6670 • R1 - 6550

Resistance

• R2 - 2515 • R1 - 2480

Support

• S1 - 6300 • S2 - 6200

Support

• S1 - 2430 • S2 - 2400

JEERA (JAN) Trend Strategy

• Consolidate • Sell on highs

MENTHA OIL (JAN JAN) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 14800 •R1 - 14600

Resistance

• R2 - 1180 • R1 - 1170

Support

•S1 - 14230 •S2 - 14050

Support

• S1 - 1135 •S2 - 1115

MUSTARD SEED (JAN) Trend Strategy

• Bearish • Sell on highs

PEPPER (JAN)) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 566 •R1 - 562

Resistance

•R2 - 23500 •R1 - 23200

Support

•S1 - 556 •S2 - 554

Support

•S1 - 22650 •S2 - 22350

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SOYABEAN (JAN)) Trend Strategy

• Consolidate • Sell on highs

TURMERIC (APR) (APR Trend Strategy

• Consolidate • Sell on highs

Resistance

•R2 - 2370 •R1 - 2350

Resistance

•R2 - 10400 •R1 - 10200

Support

•S1 - 2300 •S2 - 2280

Support

•S1 - 9700 •S2 - 9500

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