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Daily Newsletter Newsletter-Agri Commodity 16/12/2010

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MARKET WRAP Turmeric drops on profit booking Pepper tumbles on profit booking Indian rupee drops on firm U.S. dollar Jeera drops on subdued exports Soya-oil plunges on short selling Guar gains on weak arrivals Mustard seed gain on short covering Chana is expected to remain range bound

Fundamentals are very strong and are likely to push Pepper further upside in long term. Rains are also likely to delay pepper harvesting in Kerala. There are lower stocks of Jeera till fresh arrivals expected in the month of February. This will help prices to find support and strengthen. Weak arrivals in major mandies coupled with low opening stocks incited the strong gains in Guar seed market. Moreover, waning carryover stocks in the current year have also witnessed the stockiest buying at current levels. At international levels, stocks of mustard seed are expected to decline in major Canola producing countries. Thus supply situation is expected to remain very tight in these countries which may fuel the international market sentiments. Weather is again becoming a cause of concern for Argentina soybean crop. Further, crude oil prices are also giving support to Soya Bean market.

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TECHNICAL VIEW CARDAMOM (JAN) Trend Strategy

• Consolidate • Buy on dips

CHANA (JAN) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 1370 • R1 - 1350

Resistance

• R2 - 2585 • R1 - 2560

Support

• S1 - 1300 • S2 - 1260

Support

• S1 - 2530 • S2 - 2515

GUARGUM (JAN) Trend Strategy

• Bullish • Buy on dips

GUARSEED (JAN JAN) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 6750 • R1 - 6645

Resistance

• R2 - 2600 • R1 - 2575

Support

• S1 - 6390 • S2 - 6280

Support

• S1 - 2500 • S2 - 2450

JEERA (JAN) Trend Strategy

• Consolidate • Sell on highs

MENTHA OIL (DEC DEC) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 14210 •R1 - 14080

Resistance

• R2 - 1160 • R1 - 1140

Support

•S1 - 13790 •S2 - 13630

Support

• S1 - 1090 •S2 - 1060

MUSTARD SEED (JAN) Trend Strategy

• Consolidate • Buy on dips

PEPPER (JAN)) Trend Strategy

• Consolidate • Sell on highs

Resistance

•R2 - 577 •R1 - 574

Resistance

•R2 - 22350 •R1 - 22000

Support

•S1 - 566 •S2 - 563

Support

•S1 - 21600 •S2 - 21300

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SOYABEAN (JAN)) Trend Strategy

• Consolidate • Sell on highs

TURMERIC (JAN JAN) Trend Strategy

• Consolidate • Sell on highs

Resistance

•R2 - 2300 •R1 - 2275

Resistance

•R2 - 9770 •R1 - 9680

Support

•S1 - 2240 •S2 - 2225

Support

•S1 - 9370 •S2 - 9210

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