Daily Newsletter-Agri Commodity 22/03/2012
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MARKET WRAP Global Soyabean prices may move up on increased China purchases. Turmeric has shown recovery, prices up by 3.5 %. Chana up by 6%, closed above 4000.
Cardamom had profit booking in the early trading session, but recovered in the end. Buyers are still active in Cardamom and likely to up in the next trading day. Soyabean crossed its resistance of 2950 but failed to close above this level, a reversal may expect in the next trading session.
COMMODITY
P. CLOSE
LAST CLOSE
NET CHANGE
% CHANGE
CARDAMOM
1,290.30
1,291.00
0.70
0.05
CHANA
3,799.00
4,023.00
224.00
5.90
GUARGUM
92,230.00
96,540.00
4,310.00
4.67
GUARSEED
28,750.00
29,720.00
970.00
3.37
JEERA
12,315.00
12,370.00
55.00
0.45
MENTHA OIL
2,255.00
2,195.00
-60.00
-2.66
PEPPER
42,685.00
42,990.00
305.00
0.71
RM SEED
3,962.00
4,002.00
40.00
1.01
SOYABEAN
2,891.00
2,927.00
36.00
1.25
TURMERIC
4,206.00
4,350.00
144.00
3.42
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TECHNICAL VIEW CARDAMOM (APR) Trend
•Consolidate • Buy on dips
Strategy Resistance Support
• R2 - 1312 • R1 - 1298 • S1 - 1284 • S2 - 1270
GUARGUM (APR) Trend
• Bullish • Buy on dips
Strategy
CHANA (APR) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 4128 • R1 - 4058
Support
• S1 - 3988 • S2 -3918
GUARSEED (APR) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 -98140 • R1 - 96940
Resistance
• R2 - 30200 • R1 - 29840
Support
• S1 - 96140 • S2 - 94940
Support
• S1 - 29600 • S2 - 29240
JEERA (APR) Trend
Strategy
• Consolidate • Buy on dips
MENTHA OIL (MAR) Trend
Strategy
• Bullish • Buy on dips
Resistance
• R2 - 12820 • R1 - 12520
Resistance
• R2 - 2234 • R1 - 2208
Support
• S1 - 12220 • S2 - 11920
Support
• S1 - 2182 • S2 - 2156
PEPPER (APR) Trend Strategy
• Bullish • Buy on dips
RM SEED (APR) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 44020 • R1 - 43320
Resistance
• R2 - 4112 • R1 - 4037
Support
• S1 - 42660 • S2 - 41960
Support
• S1 - 3967 • S2 - 3892
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SOYABEAN (APR) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (MAY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 3002 •R1 - 2952
Resistance
• R2 - 4500 • R1 - 4400
Support
• S1 - 2902 • S2 - 2852
Support
• S1 - 4300 • S2 - 4200
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