Daily Newsletter Newsletter-Agri Commodity 30/12/2010
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MARKET WRAP Indian spices fall on weak exports Turmeric continues downtrend Jeera plunges on subdued demand Soy complex down on profit booking Mentha Oil gains on fresh buying Guar drops on arrivals Chana up on output view
Shortage of quality turmeric crop available with the stockists will provide support to the turmeric prices in the short term. Pepper prices will depend on global Black pepper availability and demand from the overseas and domestic market. Trend will depend on Jeera price parity of various origins in international market and stocks of Jeera with local stockists. Mustard seed prices are expected to trade slightly higher on account of higher prices of other oilseeds and edible oils as firm overseas market and winter season demand. Indonesia is expected to increase export tax on CPO from 15% to 20% from January onwards and improved demand in physical market ahead of winter/marriage season demand may also support the prices in the short term. 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. In the short term, Chana Price gains may be capped on positive reports of sowing and rising arrivals of Kharif pulses. www.capitalheight.com
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TECHNICAL VIEW CARDAMOM (JAN) Trend Strategy
• Bullish • Sell on highs
CHANA (JAN) Trend Strategy
•Consolidate Consolidate • Buy on dips
Resistance
• R2 - 1690 • R1 - 1645
Resistance
• R2 - 2565 • R1 - 2545
Support
• S1 - 1595 • S2 - 1570
Support
• S1 - 2505 • S2 - 2480
GUARGUM (JAN) Trend Strategy
• Consolidate • Sell on highs
GUARSEED (JAN JAN) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 6400 • R1 - 6300
Resistance
• R2 - 2475 • R1 - 2430
Support
• S1 - 6120 • S2 - 6050
Support
• S1 - 2390 • S2 - 2360
JEERA (JAN) Trend Strategy
• Consolidate • Sell on highs
MENTHA OIL (JAN JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 14820 •R1 - 14650
Resistance
• R2 - 1200 • R1 - 1177
Support
•S1 - 14050 •S2 - 13750
Support
• S1 - 1145 •S2 - 1120
MUSTARD SEED (JAN) Trend Strategy
• Consolidate • Sell on highs
PEPPER (JAN)) Trend Strategy
• Consolidate • Sell on highs
Resistance
•R2 - 582 •R1 - 576
Resistance
•R2 - 23000 •R1 - 22710
Support
•S1 - 568 •S2 - 562
Support
•S1 - 22250 •S2 - 22000
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SOYABEAN (JAN)) Trend Strategy
• Consolidate • Sell on highs
TURMERIC (APR) (APR Trend Strategy
• Consolidate • Sell on highs
Resistance
•R2 - 2400 •R1 - 2370
Resistance
•R2 - 11020 •R1 - 10900
Support
•S1 - 2350 •S2 - 2320
Support
•S1 - 10650 •S2 - 10400
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