Daily Newsletter-Agri Commodity 16/09/2011
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MARKET WRAP Turmeric on a lower circuit spree Soy bean down on sluggish demand RM seed extends downtrend Pepper edges higher Potato extends downtrend Mentha oil up on fresh buying Jeera ends down, below 15K mark Guar gum & seed up on fresh buying
Mentha oil is expected to trade sideways to positive due to strong demand outlook in the near term while fresh buying at lower levels by trades will also support the prices. Guar gum and seed are expected to trade sideways to positive due to weak arrivals from fresh crop and fresh buying at lower level due to its overall uptrend. Also, fall in productivity of major producing regions will support the prices as well. Chana is expected to trade sideways to positive due to steady fresh buying at lower levels in the market amid ongoing festivals and fresh buying at lower level, though, profit booking at higher level can pressurize the prices. Turmeric is expected to trade sideways to negative due to overall negative sentiment and subdued demand in the near term. There has been a steady higher arrival in the market from fresh crop and demand hasn’t picked up despite ongoing festivals. Jeera is expected to trade sideways to negative due to fresh selling on the back of 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 - 660 • R1 - 645 • S1 - 630 • S2 - 615
Support
GUARGUM (SEP) Trend
• Consolidate • Buy on dips
Strategy
CHANA (SEP) Trend
Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 3490 • R1 - 3450
Support
• S1 - 3360 • S2 - 3300
GUARSEED (SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 14100 • R1 - 13850
Resistance
• R2 - 4600 • R1 - 4540
Support
• S1 - 13500 • S2 - 13150
Support
• S1 - 4470 • S2 - 4410
JEERA (SEP) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (SEP) Trend
Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 15300 • R1 - 15100
Resistance
• R2 - 1280 • R1 - 1265
Support
• S1 - 14750 • S2 - 14500
Support
• S1 - 1235 • S2 - 1220
PEPPER (SEP) Trend Strategy
•Bullish • Buy on dips
MUSTARD SEED (SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 35100 • R1 - 34300
Resistance
• R2 - 2915 • R1 - 2890
Support
• S1 - 33400 • S2 - 32600
Support
• S1 - 2850 • S2 - 2810
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SOYABEAN (SEP) Trend Strategy
• Consolidate • Sell on high
TURMERIC (SEP) Trend Strategy
• Bearish • Sell on high
Resistance
• R2 - 2420 • R1 - 2390
Resistance
• R2 - 4850 • R1 - 4750
Support
• S1 - 2350 • S2 - 2320
Support
• S1 - 4600 • S2 - 4450
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