Daily Newsletter Newsletter-Agri Commodity 22/12/2010
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MARKET WRAP Turmeric zoomed on domestic demand Pepper rises on fresh buying Cardamom continues uptrend on tight supply Jeera up on lower sowing Guar up on drop in arrivals Chana up on low stocks Oilseed, soy oil rise on overseas leads Mentha oil falls on short selling
Apprehensions of damage to sown crops have kept rates firm for Turmeric. Lower stocks and weak arrivals too supported the price. Lower stocks of Jeera with the domestic stockiest and reports of effect on the production and yield of Jeera will support prices in the coming weeks. Unseasonal rains in the previous month will have adverse impact on the output. Tight supply position amid strong demand in the global market is likely to lead to strong buying interest in Pepper and the prices are likely to remain firm until the fresh arrivals from major producing nations Vietnam and India are floated into the world markets. The reports of lower stocks in Guatemala attracted some export buying for Indian cardamom. Heavy rains in the Idukki districts in Kerala disturbed the harvesting of the crop and strong demand witnessed ahead of the New Year and Christmas. Soy meal was buoyed by strength in soybeans and supportive feed outlooks amid cold, snowy central U.S. weather conditions. www.capitalheight.com
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TECHNICAL VIEW CARDAMOM (JAN) Trend Strategy
• Bullish • Sell on highs
CHANA (JAN) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 1510 • R1 - 1475
Resistance
• R2 - 2600 • R1 - 2570
Support
• S1 - 1415 • S2 - 1360
Support
• S1 - 2540 • S2 - 2515
GUARGUM (JAN) Trend Strategy
• Consolidate • Sell on highs
GUARSEED (JAN JAN) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 6540 • R1 - 6450
Resistance
• R2 - 2550 • R1 - 2510
Support
• S1 - 6275 • S2 - 6200
Support
• S1 - 2460 • S2 - 2430
JEERA (JAN) Trend Strategy
• Consolidate • Sell on highs
MENTHA OIL (DEC DEC) Trend Strategy
• Consolidate • Sell on highs
Resistance
•R2 - 14450 •R1 - 14240
Resistance
• R2 - 1170 • R1 - 1135
Support
•S1 - 13990 •S2 - 13790
Support
• S1 - 1070 •S2 - 1045
MUSTARD SEED (JAN) Trend Strategy
• Consolidate • Sell on highs
PEPPER (JAN)) Trend Strategy
• Consolidate • Sell on highs
Resistance
•R2 - 572 •R1 - 566
Resistance
•R2 - 22350 •R1 - 22000
Support
•S1 - 556 •S2 - 550
Support
•S1 - 21300 •S2 - 21000
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SOYABEAN (JAN)) Trend Strategy
• Consolidate • Sell on highs
TURMERIC (APR) (APR Trend Strategy
• Bullish • Buy on dips
Resistance
•R2 - 2300 •R1 - 2280
Resistance
•R2 - 10910 •R1 - 10700
Support
•S1 - 2240 •S2 - 2225
Support
•S1 - 10200 •S2 - 10000
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