Daily Newsletter Newsletter-Agri Agri Commodity 23/08/2011
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MARKET WRAP Pepper settles higher on supply crunch Jeera surges on fresh buying Turmeric ends down with marginal loss Chana hits a new all time high Cardamom ends positive on short covering Guar Gum hits upper circuit on fresh buying Soy oil extends uptrend on firm global cues
Turmeric prices is expected to trade sideways to intraday as higher arrival from major producing regions are keeping prices down complimented by subdued demand in the market. Though, short covering at lower level may support the prices. Pepper futures are expected to trade sideways to positive due to limited stocks available in the market while exports demand will also support the prices in the near term. Jeera in intraday is expected to trade sideways to up due to lower arrival in the market while supply crunch and fresh buying will support the prices in near term. Guar Gum in intraday will likely continue its uptrend and trade positive due to weaker sowing and fresh buying at lower levels while positive demand outlook will support the prices at lower levels as well. Chana is likely to trade positive and extend its uptrend due to positive demand outlook ahead of festivals while bargain buying at lower levels will also support the prices. Also, With monsoon picking up in pulses growing states of MP, AP and Maharashtra, the overall production of Chana can be expected to remain high as well. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (SEP) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 830 • R1 - 805 • S1 - 770 • S2 - 750
Support
GUARGUM (SEP) Trend
• Consolidate • Buy on dips
Strategy
CHANA (SEP)) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 3350 • R1 - 3280
Support
• S1 - 3170 • S2 -3140 3140
GUARSEED (SEP SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 14800 • R1 - 14350
Resistance
• R2 - 4550 • R1 - 4490
Support
• S1 - 13550 • S2 - 13300
Support
• S1 - 4400 • S2 - 4350
JEERA (SEP) Trend Strategy
• Consolidate • Buy on dips
MENTHA OIL (SEP SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 16900 • R1 - 16400
Resistance
• R2 - 1180 • R1 - 1160
Support
• S1 - 15900 • S2 - 15500
Support
• S1 - 1120 • S2 - 1090
PEPPER (SEP) Trend Strategy
• Bullish • Buy on dips
MUSTARD SEED (SEP SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 34200 • R1 - 33500
Resistance
• R2 - 2990 • R1 - 2950
Support
• S1 - 32300 • S2 - 31500
Support
• S1 - 2900 • S2 - 2870
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SOYABEAN (SEP)) Trend Strategy
• Consolidate • Sell on high
TURMERIC (SEP SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2460 • R1 - 2430
Resistance
• R2 - 6400 • R1 - 6250
Support
• S1 - 2370 • S2 - 2340
Support
• S1 - 6050 • S2 - 5900
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