Daily Newsletter Newsletter-Agri Agri Commodity 06/08/2011
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MARKET WRAP Cardamom drops on profit booking Chana remains lower on profit booking Jeera down on profit booking Soy oil extend losses on global markets Turmeric hits contract low on ample stocks Guar seed up on short covering Pepper drops on profit booking
Turmeric prices in the intraday may trade bearish owing to lackluster trades at the domestic market coupled with sufficient supplies. Lower area covered under turmeric is likely to support market sentiments. Jeera Prices are likely to trade sideways to up due to improved buying by the market participants. Any fresh enquires from the local stockists and overseas buyers might support prices. Pepper futures are expected to trade sideways to up due to lower arrivals at the domestic market. Demand from the domestic buyers ahead of festivals might keep prices supported in the short term. Soybean prices are expected to trade higher due to lower existing carry over stock of domestic soybean as record high export figures of domestic soy meal in this financial year is reported as compared to the last year. The current predictions of Chana with respect to monsoon and sowing acreage point towards downward projections of Kharif output which may provide support to the prices. Chana Prices may gain by Rs. 100-150 from the current levels. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (AUG) Trend Strategy Resistance
• Bearish • Sell on high • R2 - 815 • R1 - 800 • S1 - 770 • S2 - 755
Support
GUARGUM (AUG) Trend
• Consolidate • Sell on high
Strategy
CHANA (AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 3125 • R1 - 3085
Support
• S1 - 3030 • S2 - 3000
GUARSEED (AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 14800 • R1 - 14450
Resistance
• R2 - 4500 • R1 - 4420
Support
• S1 - 13550 • S2 - 13400
Support
• S1 - 4265 • S2 - 4180
JEERA (AUG) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (AUG AUG) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 16150 • R1 - 15900
Resistance
• R2 - 1190 • R1 - 1160
Support
• S1 - 15280 • S2 - 15000
Support
• S1 - 1130 • S2 - 1110
PEPPER (AUG) Trend Strategy
• Consolidate • Sell on high
MUSTARD SEED (AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 29500 • R1 - 28900
Resistance
• R2 - 2960 • R1 - 2940
Support
• S1 - 27800 • S2 - 27200
Support
• S1 - 2885 • S2 - 2860
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SOYABEAN (AUG)) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2505 • R1 - 2485
Resistance
• R2 - 6950 • R1 - 6800
Support
• S1 - 2440 • S2 - 2420
Support
• S1 - 6600 • S2 - 6456
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