Daily Newsletter Newsletter-Agri Agri Commodity 10/06/2011
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MARKET WRAP Chana up on bargain buying Jeera declines on sluggish demand Pepper ends down on profit booking Soybean trades on mixed trend Guar falls on profit booking Mentha oil trades down on sluggish demand Cardamom ends down on profit booking Turmeric falls on weak exports
We expect the guar seed and gum to trade downside as increase in arrivals from stocks across the spot markets this week is likely to pressurize the prices. Stockiest buying in anticipation of the upcoming festive demand is likely to keep the futures positive. We expect Chana to retain its uptrend as the ongoing demand across the spot market is supportive for futures to trade upside. Soybean may be negative as the activities across the domestic spot markets are very sluggish with lean season for arrivals and subdued demand. The soy oil futures might recover from the fall while the gains might be limited as the global supply concerns for the next year and prevailing demand for the edible oils across the domestic markets are supportive for the prices. Jeera prices in the intraday may trade negative due to weak trades at the domestic market. However, any reports of crop damage & production of spice in Syria & Turkey might support prices in the short term. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (JUNE) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 795 • R1 - 780 • S1 - 750 • S2 - 735
Support
GUARGUM (JUNE) Trend
• Consolidate • Buy on dips
Strategy
CHANA (JUNE JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 2615 • R1 - 2580
Support
• S1 - 2540 • S2 - 2500
GUARSEED (JUNE JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 10500 • R1 - 10400
Resistance
• R2 - 3330 • R1 - 3290
Support
• S1 - 10100 • S2 - 9850
Support
• S1 - 3220 • S2 - 3180
JEERA (JUNE) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (JUNE JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 14250 • R1 - 13920
Resistance
• R2 - 915 • R1 - 890
Support
• S1 - 13520 • S2 - 13350
Support
• S1 - 855 • S2 - 840
PEPPER (JUNE) Trend Strategy
• Consolidate • Buy on dips
REFINED SOY OIL (JUNE JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 30650 • R1 - 29850
Resistance
• R2 - 660 • R1 - 654
Support
• S1 - 29120 • S2 - 28500
Support
• S1 - 642 • S2 - 636
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SOYABEAN (JUNE)) Trend Strategy
• Consolidate • Sell on high
TURMERIC (JUNE JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2390 • R1 - 2360
Resistance
• R2 - 7520 • R1 - 7360
Support
• S1 - 2325 • S2 - 2300
Support
• S1 - 7180 • S2 - 7000
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