Daily Newsletter-Agri Commodity 15/09/2011
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MARKET WRAP Jeera ends down on fresh selling Turmeric hits multi year lows Pepper extends uptrend Mentha oil hits upper circuit Guar gum & seed extends downtrend Chana ends up on fresh buying Cardamom rebounds on short covering RM seed ends down on profit booking
Chana is expected to trade sideways to positive due to steady fresh buying at lower levels in the market on the back of strong demand amid ongoing festivals and lower global production are also positive trigger for the prices in the near term. Turmeric is expected to trade sideways to negative due to overall negative sentiment and sluggish demand outlook in the near term and steady higher arrivals in the market from fresh crop. Mentha oil is expected to trade sideways to positive due to fresh buying at lower levels by trades in the market and steady demand outlook in the market from pharmaceutical industry. Pepper is expected to trade sideways to positive due to strong demand outlook and better domestic and international demand. Also, fresh buying at lower level will support the prices. Jeera is expected to trade sideways to negative due to fresh selling on the back of higher arrivals in the market from fresh crop and subdued demand outlook from the international and domestic market in the near term. 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 - 3490 • R1 - 3410
Support
• S1 - 3360 • S2 - 3300
GUARSEED (SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 14000 • R1 - 13700
Resistance
• R2 - 4510 • R1 - 4430
Support
• S1 - 13350 • S2 - 13000
Support
• S1 - 4350 • S2 - 4250
JEERA (SEP) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (SEP) Trend
Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 15500 • R1 - 15250
Resistance
• R2 - 1265 • R1 - 1245
Support
• S1 - 15000 • S2 - 14700
Support
• S1 - 1230 • S2 - 1210
PEPPER (SEP) Trend Strategy
•Bullish • Buy on dips
MUSTARD SEED (SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 35100 • R1 - 34300
Resistance
• R2 - 2980 • R1 - 2940
Support
• S1 - 33400 • S2 - 32600
Support
• S1 - 2895 • S2 - 2850
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SOYABEAN (SEP) Trend Strategy
• Consolidate • Sell on high
TURMERIC (SEP) Trend Strategy
• Bearish • Sell on high
Resistance
• R2 - 2430 • R1 - 2400
Resistance
• R2 - 5050 • R1 - 4910
Support
• S1 - 2370 • S2 - 2340
Support
• S1 - 4800 • S2 - 4650
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