Daily Newsletter Newsletter-Agri Commodity 07/01/2011
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MARKET WRAP Turmeric drops on profit booking Pepper falls on poor exports Jeera remain steady Cardamom declines on short selling Soy oil jumps on short covering Guar up on falling arrivals Mentha oil up on short covering Mustard Seed tumbles on selling pressure
Traders are reportedly waiting for new Turmeric crop arrivals to initiate fresh demand. Demand for Jeera from US and European countries are likely to shift towards India in coming weeks due to low stocks in the International markets. Export demand from South-East Asian countries is there. Tight supply position in Pepper against strong demand is prevailing in the global market 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 buying from the guar gum manufacturers for their already signed consignments has come to an end. Adequate stocks following increased arrivals from the producing regions dampened the sentiment in Cardamom prices. Soybean crushing in India is going on with full speed and the availability of soy oil is not a problem in the domestic physical markets. International market sentiments were weak due to improved weather conditions in Argentina’s soybean growing areas. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (JAN) Trend Strategy Resistance
• Bearish • Sell on highs • R2 - 1550 • R1 - 1510 • S1 - 1415 • S2 - 1360
Support
GUARGUM (JAN) Trend Strategy
• Consolidate • Buy on dips
CHANA (JAN) Trend Strategy
•Consolidate Consolidate • Sell on highs
Resistance
• R2 - 2550 • R1 - 2530
Support
• S1 - 2505 • S2 - 2480
GUARSEED (JAN JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 6750 • R1 - 6670
Resistance
• R2 - 2540 • R1 - 2520
Support
• S1 - 6480 • S2 - 6390
Support
• S1 - 2470 • S2 - 2430
JEERA (JAN) Trend Strategy
• Consolidate • Buy on dips
MENTHA OIL (JAN JAN) Trend Strategy
• Consolidate • Sell on highs
Resistance
•R2 - 15050 •R1 - 14800
Resistance
• R2 - 1180 • R1 - 1160
Support
•S1 - 14385 •S2 - 14240
Support
• S1 - 1100 •S2 - 1075
MUSTARD SEED (JAN) Trend Strategy
• Consolidate • Sell on highs
PEPPER (JAN)) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 646 •R1 - 643
Resistance
•R2 - 23500 •R1 - 23200
Support
•S1 - 635 •S2 - 630
Support
•S1 - 22650 •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 - 2385 •R1 - 2370
Resistance
•R2 - 10250 •R1 - 10050
Support
•S1 - 2320 •S2 - 2300
Support
•S1 - 9550 •S2 - 9350
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