Daily Newsletter Newsletter-Agri Agri Commodity 18/08/2011
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MARKET WRAP Turmeric drops on fresh selling Soy Oil drops on global cues Pepper ends high on weak arrivals Jeera ends down on profit booking Guar gum extends downtrend Chana slumps on subdued demand Cardamom ends down on fresh selling
Turmeric prices are expected to trade sideways to negative note extending the previous losses. Overall weak trend amid poor demand from north India buyers is likely to pressurize the prices. Pepper futures are expected to trade positive due to limited stocks in the physical market ahead weak arrivals from the producing regions. Rising demand for the upcoming festive seasons also supported the uptrend. Cardamom prices are expected to trade sideways to up owing to rising demand from the domestic market amid weak arrivals from the producing regions. Guar seed futures are expected to trade negative to sideways due to active selling by the traders on the back of subdued demand in the spot market. The ongoing rains in the rain fed regions of Rajasthan which favored guar sowing also had a negative impact over the market sentiments. Chana futures is expected to trade negative to sideways on profit booking by the speculators on the back of subdued demand in the physical market and higher arrival. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (SEP) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 880 • R1 - 865 • S1 - 840 • S2 - 820
Support
GUARGUM (SEP) Trend
• Consolidate • Sell on high
Strategy
CHANA (SEP)) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 3180 • R1 - 3140
Support
• S1 - 3050 • S2 - 3010
GUARSEED (SEP SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 14050 • R1 - 13750
Resistance
• R2 - 4420 • R1 - 4360
Support
• S1 - 13250 • S2 - 12800
Support
• S1 - 4260 • S2 - 4180
JEERA (SEP) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (SEP SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 16200 • R1 - 15900
Resistance
• R2 - 1180 • R1 - 1160
Support
• S1 - 15200 • S2 - 14800
Support
• S1 - 1120 • S2 - 1090
PEPPER (SEP) Trend Strategy
• Consolidate • Buy on dips
MUSTARD SEED (SEP SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 33600 • R1 - 32620
Resistance
• R2 - 2980 • R1 - 2950
Support
• S1 - 31500 • S2 - 30700
Support
• S1 - 2900 • S2 - 2875
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SOYABEAN (SEP)) Trend Strategy
• Consolidate • Sell on high
TURMERIC (SEP SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2480 • R1 - 2440
Resistance
• R2 - 6500 • R1 - 6300
Support
• S1 - 2390 • S2 - 2360
Support
• S1 - 6050 • S2 - 5900
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