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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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