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Daily Newsletter Newsletter-Agri Commodity 03/01/2011

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MARKET WRAP Turmeric wipes out early gains on poor exports Pepper ends slightly up on lower exports Jeera drops on pick-up in sowing, poor exports Oilseed futures down on mild correction Soya bean zooms on global cues Guar falls on output view Chana end higher on local demand Mentha oil tumbles on short selling

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. At present all the major origins at quoting around same rates. Any vagaries in weather in Jeera growing areas particularly Gujarat and Rajasthan will however provide support to the prices in the short term. 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. In the short term, Mustard seed prices are expected to trade range bound amid subdued trading activity on lack of fresh fundamentals. Chana prices may remain firm due to lower availability of Chana with the stockists and improved demand. Guar prices may be determined by the arrivals in the domestic market. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (JAN) Trend Strategy

• Consolidate • Sell on highs

CHANA (JAN) Trend Strategy

•Consolidate Consolidate • Buy on dips

Resistance

• R2 - 1645 • R1 - 1610

Resistance

• R2 - 2590 • R1 - 2575

Support

• S1 - 1545 • S2 - 1500

Support

• S1 - 2547 • S2 - 2510

GUARGUM (JAN) Trend Strategy

• Consolidate • Sell on highs

GUARSEED (JAN JAN) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 6550 • R1 - 6475

Resistance

• R2 - 2490 • R1 - 2460

Support

• S1 - 6300 • S2 - 6200

Support

• S1 - 2380 • 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 - 1290 • R1 - 1250

Support

•S1 - 14250 •S2 - 14050

Support

• S1 - 1195 •S2 - 1175

MUSTARD SEED (JAN) Trend Strategy

• Consolidate • Sell on highs

PEPPER (JAN)) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 580 •R1 - 575

Resistance

•R2 - 23500 •R1 - 23180

Support

•S1 - 565 •S2 - 561

Support

•S1 - 22700 •S2 - 22350

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SOYABEAN (JAN)) Trend Strategy

• Consolidate • Sell on highs

TURMERIC (APR) (APR Trend Strategy

• Bearish • Sell on highs

Resistance

•R2 - 2430 •R1 - 2415

Resistance

•R2 - 10700 •R1 - 10500

Support

•S1 - 2368 •S2 - 2340

Support

•S1 - 10050 •S2 - 99950

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