Intraday Tips | Commodity Tips | MCX Tips | Agri Commodity Tips

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Daily Newsletter Newsletter-Agri Agri Commodity 04/12/2010

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MARKET WRAP Turmeric hits lower circuit Pepper higher; seen opening up on poor stock Jeera plunges on short selling Oilseeds, soy oil seen steady, eyes global market Chana flat as demand offsets output hopes, seen soft Guar falls on arrivals; seen opening steady India rupee rises on U.S. dollar

Lower stocks of turmeric till the fresh arrivals expected in the month of February will keep the prices firm in the near month contract. Prices will also take cues from the demand from the overseas and domestic buyers. There are reports of delayed sowing of Jeera in major growing belts in Gujarat and lower stocks are available with traders and stockiest amid crop loss in other countries. This is likely to support the spice from further falling in near term also demand from the domestic and overseas buyers is expected in the coming days. Fundamentals supported the pepper to gain and are likely to push the commodity further upside in long term. While overall fundamentals look positive for Mentha oil, traders are not ruling out some profit booking at the higher levels. After a continuous fall in prices for about three weeks, Soybean prices exhibited some signs of improvement. Continued buying support in the domestic as well as international markets is seen in soy oil futures.

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TECHNICAL VIEW CARDAMOM (DEC) Trend Strategy

• Bullish • Buy on dips

CHANA (DEC DEC) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 1280 • R1 - 1260

Resistance

• R2 - 2545 • R1 - 2525

Support

• S1 - 1220 • S2 - 1200

Support

• S1 - 2485 • S2 - 2475

GUARGUM (DEC) Trend Strategy

• Consolidate • Buy on dips

GUARSEED (DEC DEC) Trend Strategy

• Bearish • Buy on Dips

Resistance

• R2 - 6280 • R1 - 6245

Resistance

• R2 - 2520 • R1 - 2480

Support

• S1 - 6060 • S2 - 5970

Support

• S1 - 2320 • S2 - 2270

JEERA (DEC) Trend Strategy

• Consolidate • Sell on highs

MENTHA OIL (DEC DEC) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 15065 •R1 - 14815

Resistance

• R2 - 1310 • R1 - 1290

Support

•S1 - 14425 •S2 - 14300

Support

• S1 - 1250 •S2 - 1230

MUSTARD SEED (DEC) Trend Strategy

• Consolidate • Buy on dips

PEPPER (DEC)) Trend Strategy

• Bullish • Buy on dips

Resistance

•R2 - 582 •R1 - 576

Resistance

•R2 - 23500 •R1 - 23000

Support

•S1 - 566 •S2 - 562

Support

•S1 - 22500 •S2 - 22100

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SOYABEAN (DEC) Trend Strategy

• Consolidate • Sell on highs

TURMERIC (DEC) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 2300 •R1 - 2280

Resistance

•R2 - 15900 •R1 - 15500

Support

•S1 - 2245 •S2 - 2225

Support

•S1 - 14800 •S2 - 14300

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