Daily Newsletter Newsletter-Agri Commodity 10/01/2011
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MARKET WRAP Turmeric up on short covering Pepper falls on sluggish exports; seen weak Jeera remains steady Cardamom gains on short covering Soy oil climb tailing overseas markets Guar up on strong fundamentals Mentha oil up on short covering
Turmeric prices in short term will depend on demand from the domestic and overseas buyers and growth of sown crop. Trend will depend on Jeera price parity of various origins in international market and stocks of Jeera with local stockists. Pepper prices will depend on global black pepper availability and demand from the overseas and domestic market. The guar gum buyers have already stocked enough to fulfill their export consignments, new export consignments shall also be backed off from registering at this higher price levels. The trend reversal can be seen if the prices cool off a bit. In the short to medium term (1-2 week), Chana price gains may be capped on positive reports of sowing and fresh arrivals from Karnataka. Mustard seed prices are expected to trade lower due to higher production estimates of RM Seed amid favorable weather conditions. Huge losses in overseas market are also in favor of bears. Prices of Soy oil are expected to move northwards due to global shortage of vegetable oil couple with strong demand of edible oils. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (JAN) Trend Strategy Resistance
• Consolidate • Sell on highs • R2 - 1575 • R1 - 1550 • S1 - 1485 • S2 - 1460
Support
GUARGUM (JAN) Trend Strategy
• Consolidate • Buy on dips
CHANA (JAN) Trend Strategy
•Consolidate Consolidate • Buy on dips
Resistance
• R2 - 2590 • R1 - 2565
Support
• S1 - 2530 • S2 - 2505
GUARSEED (JAN JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 6700 • R1 - 6560
Resistance
• R2 - 2535 • R1 - 2500
Support
• S1 - 6300 • S2 - 6200
Support
• S1 - 2430 • S2 - 2400
JEERA (JAN) Trend Strategy
• Consolidate • Sell on highs
MENTHA OIL (JAN JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 14800 •R1 - 14600
Resistance
• R2 - 1180 • R1 - 1170
Support
•S1 - 14250 •S2 - 14050
Support
• S1 - 1135 •S2 - 1110
MUSTARD SEED (JAN) Trend Strategy
• Consolidate • Sell on highs
PEPPER (JAN)) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 566 •R1 - 562
Resistance
•R2 - 23200 •R1 - 23025
Support
•S1 - 560 •S2 - 556
Support
•S1 - 22650 •S2 - 22350
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SOYABEAN (JAN)) Trend Strategy
• Consolidate • Sell on highs
TURMERIC (APR) (APR Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 2370 •R1 - 2350
Resistance
•R2 - 10850 •R1 - 10500
Support
•S1 - 2300 •S2 - 2280
Support
•S1 - 10130 •S2 - 10000
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