Daily Newsletter-Agri Commodity 05/06/2012
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MARKET WRAP Mentha oil hits upper circuit of 4% on short recovering. Chana prices drop nearly 1.6% on higher production. Turmeric declines sharply on ample supply and low demand.
Cardamom regains 0.8% on firm spot demand, prices may recover more in the next trading session. Jeera traded weak below its support level of 12500, downtrend will continue in the next trading sessions. RM Seed opened gap down, moved below 3600 but closed higher at 3656. Trend may remain bearish in the next trading sessions.
COMMODITY
P. CLOSE
LAST CLOSE
NET CHANGE
% CHANGE
CARDAMOM
1,331.00
1,342.00
11.00
0.83
CHANA
4,115.00
4,048.00
-67.00
-1.63
GUR
1,112.00
1,117.00
5.00
0.45
JEERA
12,552.00
12,340.00
-212.00
-1.69
MENTHA OIL
1,237.00
1,286.00
49.00
3.96
PEPPER
38,780.00
38,220.00
-560.00
-1.44
POTATO
1,065.00
1,077.00
12.00
1.13
RM SEED
3,680.00
3,656.00
-24.00
-0.65
SOYABEAN
3,321.00
3,292.00
-29.00
-0.87
TURMERIC
3,612.00
3,468.00
-144.00
-3.99
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TECHNICAL VIEW CARDAMOM (JUNE) Trend
•Consolidate • Buy on dips
Strategy Resistance Support
• R2 - 1363 • R1 - 1349 • S1 - 1335 • S2 - 1321
CHANA (JUNE) Trend Strategy Resistance
• R2 - 4153 • R1 - 4083
Support
• S1 - 4013 • S2 - 3943
GUR (JULY) Trend
• Consolidate • Sell on high
Strategy
• Bearish • Sell on high
POTATO (JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 1138 • R1 - 1124
Resistance
• R2 - 1098 • R1 - 1084
Support
• S1 - 1110 • S2 - 1096
Support
• S1 - 1070 • S2 - 1056
JEERA (JUNE) Trend
Strategy
• Consolidate • Sell on high
MENTHA OIL (JUNE) Trend
Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 12790 • R1 - 12490
Resistance
• R2 - 1325 • R1 - 1299
Support
• S1 - 12190 • S2 - 11890
Support
• S1 - 1273 • S2 - 1247
PEPPER (JUNE) Trend Strategy
• Consolidate • Sell on high
RM SEED (JUNE) Trend Strategy
• Consolidate •Sell on high
Resistance
• R2 - 39250 • R1 - 38550
Resistance
• R2 - 3766 • R1 - 3691
Support
• S1 - 37890 • S2 - 37190
Support
• S1 - 3621 • S2 - 3546
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SOYABEAN (JUNE) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 3367 •R1 - 3317
Resistance
• R2 - 3618 • R1 - 3518
Support
• S1 - 3267 • S2 - 3217
Support
• S1 - 3418 • S2 - 3318
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