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Daily Newsletter Newsletter-Agri Commodity 04/01/2011

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MARKET WRAP Turmeric plunge on increased arrivals Pepper trades up on fresh buying Jeera declines on increased arrivals Soy oil drops on profit taking Soya bean down on global cues Guar up as arrivals fall Chana futures steady Mentha oil tumbles on short selling

Stockists reportedly held back turmeric stocks in anticipation of a rising demand. Short term trend would remain volatile as traders wait for corrections for buying opportunities. 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. Prospects of higher production from satisfactory sowing activities of Chana in growing states could prevent major rise in rates. However, reports of slight delay in sowing activities could perk up market sentiments. Rising exports amidst reports of delayed arrivals and slight fall in production expectations and adverse impact on the crop from the rains in growing areas are likely to provide support to the price for Guar. Expected fall in production is likely to keep sentiments up for Mentha. 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 • Sell on highs

Resistance

• R2 - 1645 • R1 - 1620

Resistance

• R2 - 2590 • R1 - 2580

Support

• S1 - 1570 • S2 - 1545

Support

• S1 - 2540 • S2 - 2525

GUARGUM (JAN) Trend Strategy

• Consolidate • Buy on dips

GUARSEED (JAN JAN) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 6900 • R1 - 6800

Resistance

• R2 - 2570 • R1 - 2530

Support

• S1 - 6550 • S2 - 6380

Support

• S1 - 2450 • S2 - 2410

JEERA (JAN) Trend Strategy

• Consolidate • Sell on highs

MENTHA OIL (JAN JAN) Trend Strategy

• Consolidate • Sell on highs

Resistance

•R2 - 15050 •R1 - 14800

Resistance

• R2 - 1245 • R1 - 1220

Support

•S1 - 14250 •S2 - 14050

Support

• S1 - 1160 •S2 - 1135

MUSTARD SEED (JAN) Trend Strategy

• Consolidate • Buy on dips

PEPPER (JAN)) Trend Strategy

• Bullish • Buy on dips

Resistance

•R2 - 580 •R1 - 576

Resistance

•R2 - 23800 •R1 - 23600

Support

•S1 - 570 •S2 - 565

Support

•S1 - 23150 •S2 - 22800

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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 - 10500 •R1 - 10400

Support

•S1 - 2350 •S2 - 2330

Support

•S1 - 10050 •S2 - 9950

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