Daily Newsletter-Agri Commodity 27/09/2011
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MARKET WRAP Guar gum & seed ends down on profit booking Cardamom ends down on fresh selling Mentha oil up on short covering Turmeric ends down on weak demand Jeera ends down, hits lower circuit Chana ends down on demand concern RM Seed ends down on fresh selling Pepper ends down on lower circuit
Pepper expected to trade sideways to negative due to weak domestic demand and people are now cautious on higher level though expected rise in export demand will support the price on lower level. Jeera is expected to trade sideways to negative due to higher arrivals in the market amid rising supply from fresh crop. Chana is expected to trade sideways to negative due to sluggish demand outlook amid higher arrival in the market also profit booking at higher level will pressurize the prices. Cardamom is expected to trade sideways to negative due to fresh selling on the back of weak demand and higher arrival in the market amid ongoing festival session will support the price on lower level. Turmeric is expected trade sideways to negative due to subdued demand in the market and expected rise in production in near term. Mentha oil expected to trade sideways to positive due strong demand amid ongoing festival session.
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TECHNICAL VIEW CARDAMOM (OCT) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 750 • R1 - 736 • S1 - 722 • S2 - 707
Support
GUARGUM (OCT) Trend
• Consolidate • Buy on dips
Strategy
CHANA (OCT) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 3695 • R1 - 3635
Support
• S1 - 3565 • S2 - 3495
GUARSEED (OCT) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 15050 • R1 - 14750
Resistance
• R2 - 4770 • R1 - 4680
Support
• S1 - 14450 • S2 - 14150
Support
• S1 - 4585 • S2 - 4495
JEERA (OCT) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (OCT) Trend
Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 16650 • R1 - 15350
Resistance
• R2 - 1365 • R1 - 1340
Support
• S1 - 15050 • S2 - 14750
Support
• S1 - 1310 • S2 - 1285
PEPPER (OCT) Trend Strategy
• Consolidate • Sell on high
MUSTARD SEED (OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 35900 • R1 - 35200
Resistance
• R2 - 2990 • R1 - 2930
Support
• S1 - 34500 • S2 - 33800
Support
• S1 - 2870 • S2 - 2840
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SOYABEAN (OCT) Trend Strategy
• Consolidate • Sell on high
TURMERIC (OCT) Trend Strategy
• Bearish • Sell on high
Resistance
• R2 - 2285 • R1 - 2240
Resistance
• R2 - 4310 • R1 - 4225
Support
• S1 - 2195 • S2 - 2150
Support
• S1 - 4140 • S2 - 4055
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