Daily Newsletter-Agri Commodity 14/09/2011
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MARKET WRAP Turmeric ends down on fresh selling RM seed ends up on fresh buying Pepper ends down with marginal loss Mentha oil ends down on sluggish demand Jeera up on short covering Guar gum & seed down on profit booking Chana ends up on fresh buying Cardamom extends downtrend
Mentha oil is expected to trade sideways to negative due to sluggish demand outlook and steady arrivals in the market from fresh crop; also, a correction is seen in its prices in the near term. Turmeric is expected to trade sideways to negative due to sluggish demand outlook in the near term and higher arrivals in the market from fresh crop though short covering at lower levels may support the prices. Chana is expected to trade sideways to positive due to fresh buying on the back of strong demand amid ongoing festivals and lower global production may also support the prices in the near term. Pepper is expected to trade sideways to positive due to fresh buying at lower levels and short covering, also, lower supply from fresh crop amid strong demand outlook will support the prices.
Cardamom is expected to
trade sideways to negative due to sluggish demand outlook and weak sentiments in the domestic market in the near term amid higher arrivals in the market. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (SEP) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 680 • R1 - 660 • S1 - 645 • S2 - 630
Support
GUARGUM (SEP) Trend
• Consolidate • Sell on high
Strategy
CHANA (SEP) Trend
Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 3420 • R1 - 3380
Support
• S1 - 3320 • S2 - 3290
GUARSEED (SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 14100 • R1 - 13800
Resistance
• R2 - 4510 • R1 - 4430
Support
• S1 - 13500 • S2 - 13250
Support
• S1 - 4350 • S2 - 4250
JEERA (SEP) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (SEP) Trend
Strategy
• Consolidate • Sell on high
Resistance
• R2 - 15700 • R1 - 15400
Resistance
• R2 - 1235 • R1 - 1210
Support
• S1 - 15100 • S2 - 14800
Support
• S1 - 1180 • S2 - 1150
PEPPER (SEP) Trend Strategy
• Consolidate • Buy on dips
MUSTARD SEED (SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 35000 • R1 - 34100
Resistance
• R2 - 2990 • R1 - 2950
Support
• S1 - 33350 • S2 - 32500
Support
• S1 - 2910 • S2 - 2880
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SOYABEAN (SEP) Trend Strategy
• Consolidate • Sell on high
TURMERIC (SEP) Trend Strategy
• Bearish • Sell on high
Resistance
• R2 - 2450 • R1 - 2420
Resistance
• R2 - 5200 • R1 - 5100
Support
• S1 - 2380 • S2 - 2350
Support
• S1 - 5000 • S2 - 4900
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