Daily Newsletter-Agri Commodity 18/01/2012
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MARKET WRAP Guar gum and seed hits lower circuit Spices ends mixed, Jeera down 2.25% Chana tumbles for second consecutive day
Guar gum and seed ended down hitting lower circuit as FMC banned any new fresh positions in the current contract coupled with 10% additional margin to stop speculation. Spices traded mixed today with Jeera and Turmeric shredding 2.25% or 370 pts and 0.6% or 26 pts while Pepper ended up 1.8% or 560 pts on the back of fresh buying.
COMMODITY
P. CLOSE
LAST CLOSE
NET CHANGE
% CHANGE
CARDAMOM
640.70
628.30
-12.40
-1.94
CHANA
3,277.00
3,161.00
-116.00
-3.54
GUARGUM
34,906.00
33,510.00
-1,396.00
-4.00
GUARSEED
10,544.00
10,123.00
-421.00
-3.99
JEERA
16,454.00
16,084.00
-370.00
-2.25
MENTHA OIL
1,548.30
1,486.40
-61.90
-4.00
PEPPER
31,230.00
31,790.00
560.00
1.79
MUSTARD SEED
3,756.00
3,775.00
19.00
0.51
SOYABEAN
2,556.50
2,526.00
-30.50
-1.19
TURMERIC
4,480.00
4,454.00
-26.00
-0.58
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TECHNICAL VIEW CARDAMOM (FEB) Trend
• Consolidate • Sell on high
Strategy Resistance Support
• R2 - 655 • R1 - 635 • S1 - 620 • S2 - 600
GUARGUM (FEB) Trend
• Consolidate • Buy on dips
Strategy
CHANA (FEB) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 3270 • R1 - 3190
Support
• S1 - 3120 • S2 - 3040
GUARSEED (FEB) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 34800 • R1 - 33810
Resistance
• R2 - 10500 • R1 - 10250
Support
• S1 - 34100 • S2 - 33050
Support
• S1 - 10000 • S2 - 9790
JEERA (FEB) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (JAN) Trend
Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 16550 • R1 - 16260
Resistance
• R2 - 1530 • R1 - 1500
Support
• S1 - 15930 • S2 - 15630
Support
• S1 - 1470 • S2 - 1440
PEPPER (FEB) Trend Strategy
• Consolidate • Sell on high
MUSTARD SEED (FEB) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 32820 • R1 - 32130
Resistance
• R2 - 3890 • R1 - 3810
Support
• S1 - 31450 • S2 - 30700
Support
• S1 - 3740 • S2 - 3660
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SOYABEAN (FEB) Trend Strategy
• Consolidate • Sell on high
TURMERIC (MAY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2600 • R1 - 2550
Resistance
• R2 - 4600 • R1 - 4500
Support
• S1 - 2500 • S2 - 2450
Support
• S1 - 4400 • S2 - 4310
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