Daily Newsletter-Agri Commodity 13/03/2012
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MARKET WRAP Cardamom rebounds on fresh buying Spices extends downtrend; Turmeric worst Mentha oil rebounds on lower level buying
Cardamom rebounded on the back of fresh buying at lower levels and short covering as it added 3.375 or 30.50 pts to end at 936.80. Spices extended their downtrend for second day d7ue to subdued demand outlook as Turmeric hit lower circuit shredding 178 pts while Pepper was down 2.66% or 1085 pts and Jeera was 2.34% or 310 pts.
COMMODITY
P. CLOSE
LAST CLOSE
NET CHANGE
% CHANGE
CARDAMOM
906.30
936.80
30.50
3.37
CHANA
3,613.00
3,581.00
-32.00
-0.89
GUARGUM
70,050.00
71,970.00
1,920.00
2.74
GUARSEED
22,251.00
22,560.00
309.00
1.39
JEERA
13,267.50
12,957.50
-310.00
-2.34
MENTHA OIL
2,278.00
2,304.00
26.00
1.14
PEPPER
40,840.00
39,755.00
-1,085.00
-2.66
MUSTARD SEED
3,665.00
3,626.00
-39.00
-1.06
SOYABEAN
2,797.00
2,772.50
-24.50
-0.88
TURMERIC
4,466.00
4,288.00
-178.00
-3.99
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TECHNICAL VIEW CARDAMOM (MAR) Trend
• Consolidate • Buy on dips
Strategy Resistance Support
• R2 - 970 • R1 - 950 • S1 - 920 • S2 - 900
CHANA (MAR) Trend Strategy Resistance
• R2 - 3740 • R1 - 3640
Support
• S1 - 3540 • S2 - 3410
GUARGUM (MAR) Trend
• Consolidate • Buy on dips
Strategy
• Consolidate • Buy on dips
GUARSEED (MAR) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 74500 • R1 - 72600
Resistance
• R2 - 23400 • R1 - 22800
Support
• S1 - 71370 • S2 - 69500
Support
• S1 - 22400 • S2 - 21700
JEERA (MAR) Trend
Strategy
• Consolidate • Sell on high
MENTHA OIL (MAR) Trend
Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 13400 • R1 - 13100
Resistance
• R2 - 2390 • R1 - 2320
Support
• S1 - 12800 • S2 - 12500
Support
• S1 - 2270 • S2 - 2220
PEPPER (MAR) Trend Strategy
• Consolidate • Buy on dips
MUSTARD SEED (APR) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 40800 • R1 - 40000
Resistance
• R2 - 3740 • R1 - 3660
Support
• S1 - 39400 • S2 - 38700
Support
• S1 - 3590 • S2 - 3510
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SOYABEAN (MAR) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (MAY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2890 • R1 - 2820
Resistance
• R2 - 4450 • R1 - 4340
Support
• S1 - 2740 • S2 - 2690
Support
• S1 - 4230 • S2 - 4140
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