Daily Newsletter-Agri Commodity 05/10/2011
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MARKET WRAP Mentha oil ends down on fresh selling Chana ends down on profit booking Pepper sizzles up on fresh buying Guar gum & seed up on strong demand Turmeric up on festive demand RM Seed ends down on fresh selling Cardamom ends marginally up Jeera extends down trend
Pepper edged up today and is expected to trade sideways to positive due to fresh buying at lower levels and supply side concerns in the market though profit booking at higher level can resist upside. Jeera is likely to trade sideways to negative due to weak domestic and export demand amid higher arrival from fresh crop will limited the upside. Turmeric is expected trade sideways to positive due to strong domestic demand and lack of supply while festive season and expected rise in export will also support the price on lower level. Guar gum and seed expected to trade sideways to positive due to back on domestic demand and falling productivity in producing area though weak export and higher arrival pressurize the price in near term. Cardamom is expected to trade sideways to positive due to positive demand outlook in the market amid higher arrival from fresh crop will cap the upside.
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TECHNICAL VIEW CARDAMOM (OCT) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 728 • R1 - 712 • S1 - 698 • S2 - 684
Support
GUARGUM (OCT) Trend
• Consolidate • Sell on high
Strategy
CHANA (OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 3250 • R1 - 3191
Support
• S1 - 3130 • S2 - 3070
GUARSEED (OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 14050 • R1 - 13750
Resistance
• R2 - 4465 • R1 - 4375
Support
• S1 - 13450 • S2 - 13150
Support
• S1 - 4290 • S2 - 4100
JEERA (OCT) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (OCT) Trend
Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 14950 • R1 - 14650
Resistance
• R2 - 1380 • R1 - 1355
Support
• S1 - 14350 • S2 - 14050
Support
• S1 - 1330 • S2 - 1305
PEPPER (OCT) Trend Strategy
• Consolidate • Sell on high
MUSTARD SEED (OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 37000 • R1 - 36350
Resistance
• R2 - 2805 • R1 - 2745
Support
• S1 - 35650 • S2 - 34950
Support
• S1 - 2685 • S2 - 2625
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SOYABEAN (OCT) Trend Strategy
• Consolidate • Sell on high
TURMERIC (OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2135 • R1 - 2095
Resistance
• R2 - 5130 • R1 - 5030
Support
• S1 - 2055 • S2 - 2015
Support
• S1 - 4930 • S2 - 4830
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