Daily Newsletter Newsletter-Agri Agri Commodity 12/07/2011
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MARKET WRAP Chana up on demand Jeera falls on weak demand Pepper falls on profit booking Oilseeds, soy oil steady Guar up on sowing concerns Turmeric up on lower sowing Mentha oil falls on profit booking
Low demand of Turmeric and reports of higher production & stocks in markets are likely to pressurize the prices to some extent. Good export & domestic demand, lower stocks and a fall in production of Pepper are likely to support the market sentiments in the near term. Better Indian quality and availability of stocks could shift the Gulf demand ahead of Ramzan towards India in the coming weeks. The short term trend is likely to remain very volatile with trading activities set to rise in Chana. A higher production prospect for Chana and other Pulses could prevent the rates from moving up significantly. Uncertainty over rains in Rajasthan kept the trend highly volatile for Guar as good exports demand kept the trend up for the commodity. Concerns about higher stock levels and the expectations of increase in Kharif oilseed production by 9% are affecting the Mustard Seed market sentiments. Better production prospects and lower export demand may limit a steep price rise in Soybean. Rains affected the Mentha Oil extraction process adversely. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (AUG) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 885 • R1 - 870 • S1 - 840 • S2 - 825
Support
GUARGUM (JULY) Trend
• Bullish • Buy on dips
Strategy
CHANA (JULY JULY) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 2900 • R1 - 2880
Support
• S1 - 2830 • S2 - 2800
GUARSEED (JULY JULY) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 12500 • R1 - 12300
Resistance
• R2 - 3960 • R1 - 3900
Support
• S1 - 12000 • S2 - 11700
Support
• S1 - 3840 • S2 - 3800
JEERA (JULY) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (JULY JULY) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 14800 • R1 - 14600
Resistance
• R2 - 1160 • R1 - 1140
Support
• S1 - 14080 • S2 - 13800
Support
• S1 - 1100 • S2 - 1080
PEPPER (JULY) Trend Strategy
• Consolidate • Sell on high
MUSTARD SEED (JULY JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 27500 • R1 - 27180
Resistance
• R2 - 2880 • R1 - 2865
Support
• S1 - 26200 • S2 - 25750
Support
• S1 - 2815 • S2 - 2790
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SOYABEAN (JULY)) Trend Strategy
• Consolidate • Sell on high
TURMERIC (JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 2320 • R1 - 2300
Resistance
• R2 - 7970 • R1 - 7850
Support
• S1 - 2250 • S2 - 2230
Support
• S1 - 7600 • S2 - 7450
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