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Daily Newsletter Newsletter-Agri Agri Commodity 14/12/2010

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MARKET WRAP Turmeric falls on low export demand Pepper recovers on short covering Jeera drops on subdued demand Soy oil up 2% on lower imports & fresh buying Guar falls on margin Chana gains on demand Indian rupee decline on strong U.S. dollar

Lower stocks of Turmeric till the fresh arrivals expected in the month of February will keep the prices firm in the near month contract. Prices will also take cues from the demand from the overseas and domestic buyers. Lower stocks of Jeera with the domestic stockiest and reports of effect on the production and yield of Jeera will support prices in the coming weeks. Unseasonal rains in the previous month will have adverse impact on the output. Rains are also likely to delay pepper harvesting in Kerala. Mustard seed production may increase this year but a lot will depend upon the near term weather. At international levels, stocks are also 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. Some more dips can be expected in Mentha oil as traders wait for corrections for fresh buy. Expected rise in export and domestic demand from pharmaceutical Industries could support the prices.

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TECHNICAL VIEW CARDAMOM (DEC) Trend Strategy

• Consolidate • Sell on highs

CHANA (DEC DEC) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 1260 • R1 - 1215

Resistance

• R2 - 2520 • R1 - 2500

Support

• S1 - 1164 • S2 - 1150

Support

• S1 - 2470 • S2 - 2440

GUARGUM (DEC) Trend Strategy

• Bearish • Buy on dips

GUARSEED (DEC DEC) Trend Strategy

Resistance

• R2 - 6150 • R1 - 6070

Resistance

Support

• S1 - 5880 • S2 - 5750

Support

JEERA (DEC) Trend Strategy

• Bearish • Buy on dips

•Bearish Buy on dips •Buy • R2 - 2450 • R1 - 2400 • S1 - 2330 • S2 - 2270

MENTHA OIL (DEC DEC) Trend Strategy

• Bearish • Buy on dips

Resistance

•R2 - 14000 •R1 - 13850

Resistance

• R2 - 1135 • R1 - 1100

Support

•S1 - 13480 •S2 - 13230

Support

• S1 - 1035 •S2 - 1000

MUSTARD SEED (DEC) Trend Strategy

• Bearish • Buy on dips

PEPPER (DEC)) Trend Strategy

• Bearish • Buy on dips

Resistance

•R2 - 569 •R1 - 563

Resistance

•R2 - 22250 •R1 - 22000

Support

•S1 - 550 •S2 - 545

Support

•S1 - 21500 •S2 - 21200

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SOYABEAN (DEC) Trend Strategy

• Bearish • Sell on highs

TURMERIC (DEC) Trend Strategy

• Consolidate • Sell on highs

Resistance

•R2 - 2250 •R1 - 2225

Resistance

•R2 - 15250 •R1 - 14800

Support

•S1 - 2180 •S2 - 2150

Support

•S1 - 13900 •S2 - 13480

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