Daily Newsletter-Agri Commodity 21/09/2011
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MARKET WRAP Jeera ends down on profit booking Pepper hits a new contract high Turmeric ends up on short covering Guar gum & seed up on fresh buying Mentha oil extends uptrend for 2nd day Chana hits multi years high RM Seed ends up on short covering Cardamom hits upper circuit on fresh buying
Jeera is expected to trade sideways to negative due to weak demand and higher arrivals in the market from fresh crop though expected rise in export demand will support the prices at the lower level. Chana is expected to trade sideways to positive due to strong domestic demand amid ongoing festive season and lower production at global front will also support the price. Cardamom is expected to trade sideways to positive due to fresh buying on the back of strong demand in the markets amid tight supply from the fresh crop and fresh demand ahead of festival session as well. Pepper is expected to trade sideways to positive due to thin supply and steady demand outlook on the back of rise in domestic and international market demand. Turmeric is expected trade sideways to
positive due
to
increased domestic demand ahead of festivals though any news of higher arrivals in the market from fresh crop will pressurize the prices gains on the upside. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (OCT) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 830 • R1 - 810 • S1 - 790 • S2 - 770
Support
GUARGUM (OCT) Trend
• Consolidate • Buy on dips
Strategy
CHANA (OCT) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 3750 • R1 - 3690
Support
• S1 - 3615 • S2 - 3550
GUARSEED (OCT) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 14950 • R1 - 14650
Resistance
• R2 - 4800 • R1 - 4715
Support
• S1 - 14350 • S2 - 14050
Support
• S1 - 4615 • S2 - 4530
JEERA (OCT) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (OCT) Trend
Strategy
• Bullish • Buy on dips
Resistance
• R2 - 16300 • R1 - 16000
Resistance
• R2 - 1380 • R1 - 1355
Support
• S1 - 15700 • S2 - 15400
Support
• S1 - 1330 • S2 - 1305
PEPPER (OCT) Trend Strategy
• Bullish • Buy on dips
MUSTARD SEED (OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 37800 • R1 - 37100
Resistance
• R2 - 3055 • R1 - 2995
Support
• S1 - 36350 • S2 - 35650
Support
• S1 - 2930 • S2 - 2870
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SOYABEAN (OCT) Trend Strategy
• Consolidate • Sell on high
TURMERIC (OCT) Trend Strategy
• Bearish • Sell on high
Resistance
• R2 - 2335 • R1 - 2295
Resistance
• R2 - 4780 • R1 - 4695
Support
• S1 - 2250 • S2 - 2210
Support
• S1 - 4600 • S2 - 4530
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