Daily Newsletter-Agri Commodity 29/09/2011
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MARKET WRAP Jeera up on firm demand RM Seed ends down on fresh selling Cardamom up on fresh buying Pepper up on fresh buying Mentha oil up on fresh buying Turmeric hits upper circuit on 2nd day Chana ends down on profit booking Guar gum & seed ends down on fresh selling
Mentha oil expected to trade sideways to positive due to strong demand from pharmaceutical industries and fresh buying sentiment from traders due to positive demand outlook. Guar gum and seed are expected to trade sideways to negative due to subdued demand in the market amid higher arrivals and lower export demand. Jeera is expected to trade sideways to positive due to expected rise domestic demand due to ongoing festivals and lower production estimates while higher arrivals will pressurize the price on upside. Chana is expected to trade sideways to negative due to higher arrival from the fresh crop and profit booking and overdue correction though firm demand and ongoing festival season will support the price. Cardamom is expected to trade sideways to positive on the back of expected rise in demand and fresh buying. Turmeric is expected trade sideways to positive due to rise in demand during festivals though any news of higher arrival from fresh crop will pressurize the prices in future. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (OCT) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 737 • R1 - 723 • S1 - 708 • S2 - 694
Support
GUARGUM (OCT) Trend
• Consolidate • Sell on high
Strategy
CHANA (OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 3645 • R1 - 3575
Support
• S1 - 3500 • S2 - 3530
GUARSEED (OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 14925 • R1 - 14625
Resistance
• R2 - 4760 • R1 - 4670
Support
• S1 - 14335 • S2 - 14035
Support
• S1 - 4575 • S2 - 4485
JEERA (OCT) Trend Strategy
• Consolidate • Buy on dips
MENTHA OIL (OCT) Trend
Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 15900 • R1 - 15600
Resistance
• R2 - 1430 • R1 - 1402
Support
• S1 - 15250 • S2 - 14900
Support
• S1 - 1376 • S2 - 1348
PEPPER (OCT) Trend Strategy
• Consolidate • Sell on high
MUSTARD SEED (OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 37800 • R1 - 37100
Resistance
• R2 - 2980 • R1 - 2920
Support
• S1 - 36300 • S2 - 35500
Support
• S1 - 2860 • S2 - 2800
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SOYABEAN (OCT) Trend Strategy
• Consolidate • Sell on high
TURMERIC (OCT) Trend Strategy
• Bearish • Sell on high
Resistance
• R2 - 2220 • R1 - 2180
Resistance
• R2 - 4725 • R1 - 4635
Support
• S1 - 2135 • S2 - 2095
Support
• S1 - 4545 • S2 - 4455
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