Daily Newsletter Newsletter-Agri Commodity 29/12/2010
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MARKET WRAP Apr-Dec 15 commodity bourses turnover up 51 pct Turmeric eases from high Pepper rises on export demand Jeera sowing picks up on favorable weather Soy oil extends gains to hit contract high Mentha Oil surges on active buying Jeera jumps on tight supply
Fresh crop of Turmeric may start hitting the market in next 8-10 days. While peak arrivals will start from mid January. Thus, on mixed sentiments futures may witness some corrections during the day. Revival in winter demand for Mustard oil and tight supply situation is likely to add bullish strength to the market. A rally in international market driven by tight balance sheet is rendering support to Indian market. Dry weather in the Argentina is causing concern to the standing Soybean crop which is giving bullish impetus to the market. Further demand from the importing nations like China continues to give support to the international prices. Refined soy oil is projected to trade on a positive note extending its gains on continued buying and taking support from strong overseas market. Mentha oil is expected to extend its gains on follow through buying supported by excellent demand for the produce. Lower stock due to lower production and strong export is likely to add further bullishness to the market. Sluggish new export enquiries due to the Christmas and New Year can restrict any gain in Guar prices. www.capitalheight.com
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TECHNICAL VIEW CARDAMOM (JAN) Trend Strategy
• Bullish • Buy on dips
CHANA (JAN) Trend Strategy
•Consolidate Consolidate • Sell on highs
Resistance
• R2 - 1690 • R1 - 1645
Resistance
• R2 - 2550 • R1 - 2530
Support
• S1 - 1595 • S2 - 1570
Support
• S1 - 2495 • S2 - 2480
GUARGUM (JAN) Trend Strategy
• Consolidate • Buy on dips
GUARSEED (JAN JAN) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 6560 • R1 - 6515
Resistance
• R2 - 2510 • R1 - 2475
Support
• S1 - 6360 • S2 - 6300
Support
• S1 - 2420 • S2 - 2400
JEERA (JAN) Trend Strategy
• Bullish • Sell on highs
MENTHA OIL (JAN JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 15320 •R1 - 15065
Resistance
• R2 - 1200 • R1 - 1177
Support
•S1 - 14450 •S2 - 14300
Support
• S1 - 1145 •S2 - 1120
MUSTARD SEED (JAN) Trend Strategy
• Consolidate • Buy on dips
PEPPER (JAN)) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 587 •R1 - 583
Resistance
•R2 - 23400 •R1 - 23200
Support
•S1 - 574 •S2 - 568
Support
•S1 - 22650 •S2 - 22300
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SOYABEAN (JAN)) Trend Strategy
• Bullish • Sell on highs
TURMERIC (APR) (APR Trend Strategy
• Consolidate • Sell on highs
Resistance
•R2 - 2440 •R1 - 2415
Resistance
•R2 - 11325 •R1 - 11200
Support
•S1 - 2350 •S2 - 2320
Support
•S1 - 10650 •S2 - 10400
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