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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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