Daily Newsletter-Agri Commodity 03/09/2011
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MARKET WRAP Guar gum & seed extends downtrend Pepper ends marginally up Turmeric ends flat on positive bias Mentha oil ends up on upper circuit Jeera declines on weak demand Chana ends up on festive demand RM Seed extends downtrend Cardamom ends down on fresh selling
Mentha oil is expected to trade sideways to positive due to strong buying sentiments and
fresh
buying
owing
to
robust
demand
outlook
in
the
near
term.
Cardamom is expected to trade sideways to negative due to heavy arrivals from fresh crop and fresh selling though expected rise in demand ahead of festival can support the prices. Chana is expected to trade sideways to positive due to rise in demand owing to ongoing festivals and weak arrivals from the fresh crop. Also, lower global pulses production is likely to keep prices firm in near term. Jeera is expected to trade sideways to negative due to poor export demand and subdued domestic demand amid higher arrivals in the market, though lower output in other major producers can support the prices at lower level. Turmeric is expected to trade sideways to negative due to subdued demand in the market and higher arrivals from the fresh crop and major producing regions though short covering can support the prices at lower level. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (SEP) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 740 • R1 - 720 • S1 -690 • S2 - 670
Support
GUARGUM (SEP) Trend
• Consolidate • Sell on high
Strategy
CHANA (SEP) Trend
Strategy
• Bullish • Buy on dips
Resistance
• R2 - 3390 • R1 - 3330
Support
• S1 - 3260 • S2 -3210
GUARSEED (SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 14700 • R1 - 14400
Resistance
• R2 - 4450 • R1 - 4390
Support
• S1 - 13800 • S2 - 13200
Support
• S1 - 4280 • S2 - 4200
JEERA (SEP) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (SEP) Trend
Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 16000 • R1 - 15600
Resistance
• R2 - 1235 • R1 - 1215
Support
• S1 - 15250 • S2 - 14900
Support
• S1 - 1180 • S2 - 1160
PEPPER (SEP) Trend Strategy
• Consolidate • Buy on dips
MUSTARD SEED (SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 34600 • R1 - 33900
Resistance
• R2 - 3000 • R1 - 2960
Support
• S1 - 32900 • S2 - 32300
Support
• S1 - 2910 • S2 - 2870
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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 - 5950 • R1 - 5850
Support
• S1 - 2370 • S2 - 2340
Support
• S1 - 5650 • S2 - 5550
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