Daily Newsletter Newsletter-Agri Agri Commodity 25/07/2011
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MARKET WRAP Chana up on good domestic demand, hits contract high Jeera edges higher on rising demand Pepper surges on speculative buying Soybean gains on weather concerns Guar hits contract high on poor stocks Turmeric rebounds on short covering Mentha oil falls on profit booking
Turmeric prices in the intraday may trade bearish on account of improvement in area covered under Turmeric and dull trades at the domestic markets. Soy oil prices at Indian commodity bourses are likely to resume down trend on the supply glut situations across domestic markets. Declining retail demand for edible oil is impacting the prices majorly. As the pepper prices in the international market of all regions are at same levels there is likelihood that overseas buyers might place fresh orders in the domestic market in the short term. Jeera prices in the intraday are likely to trade firm due to fresh export enquiries from overseas buyers particularly China. Chana futures are likely to trade firm owing to improved demand from local buyers amidst reduced arrivals in the domestic. The Cardamom August futures are expected to continue to trade up on fresh buying. Export demand from gulf is expected to support the prices. Guar futures may trade firm owing to robust export demand. However, good rainfall in the major guar growing districts of Rajasthan in coming days might cap the gains in the short term. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (AUG) Trend Strategy Resistance
• Consolidate • Buy on dips • R2 - 910 • R1 - 895 • S1 - 865 • S2 - 850
Support
GUARGUM (AUG) Trend
• Bullish • Buy on dips
Strategy
CHANA (AUG AUG) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 3150 • R1 - 3100
Support
• S1 - 3030 • S2 - 3000
GUARSEED (AUG AUG) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 15300 • R1 - 15000
Resistance
• R2 - 4865 • R1 - 4770
Support
• S1 - 14460 • S2 - 14170
Support
• S1 - 4585 • S2 - 4500
JEERA (AUG) Trend Strategy
• Bullish • Buy on dips
MENTHA OIL (JULY JULY) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 17500 • R1 - 17150
Resistance
• R2 - 1140 • R1 - 1120
Support
• S1 - 16600 • S2 - 16300
Support
• S1 - 1075 • S2 - 1055
PEPPER (AUG) Trend Strategy
• Consolidate • Buy on dips
MUSTARD SEED (AUG AUG) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 30700 • R1 - 30000
Resistance
• R2 - 3040 • R1 - 3010
Support
• S1 - 29200 • S2 - 28800
Support
• S1 - 2975 • S2 - 2950
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SOYABEAN (AUG)) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (AUG AUG) Trend Strategy
• Bearish • Sell on high
Resistance
• R2 - 2490 • R1 - 2465
Resistance
• R2 - 7630 • R1 - 7500
Support
• S1 - 2420 • S2 - 2400
Support
• S1 - 7300 • S2 - 7150
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