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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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