Daily Newsletter Newsletter-Agri Agri Commodity 02/07/2011
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MARKET WRAP Festive demand props Chana Jeera up on fresh export enquiries Pepper settles higher on increased demand Oilseeds, soy oil settles lower on global cues Guar hits contract high Turmeric up on lower sowing Mentha oil soars on weak arrivals
Turmeric futures are expected to trade on slightly positive because of drastic fall in prices growers are becoming reluctant in further selling of their produce. Jeera futures are expected to continue the bearish trend on poor domestic demand. Lack of active buying at spot market is likely to pull down the prices. The gains in both guar seed and gum futures have been substantial during last week. Therefore traders might take advantage of these gains and might go for profit booking. Monsoon is likely to reach Pakistan by Wednesday which might affect the Indian market sentiments. Broad based selling in oilseeds complex in both domestic & international markets is keeping a check on the upside movement. Cardamom futures are projected to continue the positive trend. Fresh buying at lower level is likely to support the prices. However, prices might take decent correction initially on profit selling on higher levels. Damage of recently sown pulse crops in Canada due to excessive rains has sent an alarming signal to the farmers not to prefer pulses for the ongoing sowing season. www.capitalheight.com capitalheight.wordpress.com
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TECH ECHNICAL VIEW CARDAMOM (JULY) Trend Strategy Resistance
• Consolidate • Buy on dips • R2 - 870 • R1 - 855 • S1 - 825 • S2 - 810
Support
GUARGUM (JULY) Trend
• Bullish • Buy on dips
Strategy
CHANA (JULY JULY) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 2850 • R1 - 2825
Support
• S1 - 2775 • S2 - 2750
GUARSEED (JULY JULY) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 11650 • R1 - 11550
Resistance
• R2 - 3725 • R1 - 3675
Support
• S1 - 11350 • S2 - 11200
Support
• S1 - 3600 • S2 - 3560
JEERA (JULY) Trend Strategy
• Bullish • Buy on dips
MENTHA OIL (JULY JULY) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 15500 • R1 - 15300
Resistance
• R2 - 980 • R1 - 965
Support
• S1 - 14750 • S2 - 14500
Support
• S1 - 940 • S2 - 925
PEPPER (JULY) Trend Strategy
• Bearish • Sell on high
REFINED SOY OIL (JU JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 28500 • R1 - 27800
Resistance
• R2 - 645 • R1 - 639
Support
• S1 - 26800 • S2 - 26300
Support
• S1 - 627 • S2 - 621
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SOYABEAN (JULY)) Trend Strategy
• Consolidate • Sell on high
TURMERIC (JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 2325 • R1 - 2300
Resistance
• R2 - 8100 • R1 - 8000
Support
• S1 - 2270 • S2 - 2250
Support
• S1 - 7750 • S2 - 7650
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