Daily Newsletter Newsletter-Agri Commodity 18/01/2011
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MARKET WRAP Turmeric plunges on production estimates Pepper falls on supply view Jeera gains on short covering Oilseeds, Soy oil rise on demand Chana reverses gains Mentha surge on firm demand Guar hits contract high
Turmeric prices will depend on demand from the domestic and overseas buyers and arrivals in the domestic market. Jeera prices will depend on the demand from the overseas and domestic buyers and growth of the sown Jeera crop particularly in Rajasthan and Gujarat. Pepper prices will depend on demand from the overseas and domestic market and fresh arrivals pattern in the physical market. Soybean prices are expected to trade higher due to bullish USDA’s monthly and supply report as sharp decline in US ending stocks and concern of Argentina’s dry weather. Mustard seed prices are expected to trade range bound with weak sentiments due to better crop of the RM Seed in 2011. Guar prices are expected to move higher from the current levels as the arrivals will continue to decline with harvests nearing its end, while demand from the overseas market may see an improvement in the coming weeks. Weather would be an important factor to be watched for as the final estimates on the Chana crop would mainly depend on the weather conditions during the crop development period. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (FEB) Trend Strategy Resistance
• Consolidate • Buy on dips • R2 - 1620 • R1 - 1590 • S1 - 1545 • S2 - 1515
Support
GUARGUM (JAN) Trend Strategy
• Consolidate • Buy on dips
CHANA (JAN) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 2645 • R1 - 2620
Support
• S1 - 2590 • S2 - 2560
GUARSEED (JAN JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 6950 • R1 - 6880
Resistance
• R2 - 2650 • R1 - 2625
Support
• S1 - 6700 • S2 - 6630
Support
• S1 - 2575 • S2 - 2550
JEERA (JAN) Trend Strategy
• Consolidate • Buy on dips
MENTHA OIL (JAN JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 15070 • R1 - 14800
Resistance
• R2 - 1200 • R1 - 1180
Support
• S1 - 14450 • S2 - 14250
Support
• S1 - 1150 • S2 - 1135
MUSTARD SEED (JAN) Trend Strategy
• Consolidate • Sell on highs
PEPPER (JAN)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 565 • R1 - 562
Resistance
• R2 - 23000 • R1 - 22700
Support
• S1 - 552 • S2 - 546
Support
• S1 - 22125 • S2 - 21850
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SOYABEAN (JAN)) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (APR) (APR Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 2415 • R1 - 2390
Resistance
• R2 - 10160 • R1 - 10060
Support
• S1 - 2340 • S2 - 2320
Support
• S1 - 9860 • S2 - 9700
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