Daily Newsletter-Agri Commodity 24/03/2012
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MARKET WRAP Industrial demand increases in Mentha Oil, prices up by 4%. Guarseed down 4% on profit booking Jeera recovered 2.1% due to short recovering
Chana closed flat as traders are in indecision about the trend. Profit booking is seen in Guar gum and Guar seed. Jeera again on its uptrend, hits upper circuit. RM Seed also continue its uptrend after yesterday’s profit booking. Soyabean up by 2.3%, likely to continue uptrend in the next trading sessions.
COMMODITY
P. CLOSE
LAST CLOSE
NET CHANGE
% CHANGE
CARDAMOM
1,213.60
1,244.80
31.20
2.57
CHANA
3,736.00
3,785.00
49.00
1.31
GUARGUM
92,090.00
89,330.00
-2,760.00
-3.00
GUARSEED
28,710.00
27,570.00
-1,140.00
-3.97
JEERA
11,935.00
12,190.00
255.00
2.14
MENTHA OIL
2,090.30
2,173.90
83.60
4.00
PEPPER
40,610.00
42,205.00
1,595.00
3.93
RM SEED
3,869.00
3,936.00
67.00
1.73
SOYABEAN
2,898.50
2,964.00
65.50
2.26
TURMERIC
4,286.00
4,380.00
94.00
2.19
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TECHNICAL VIEW CARDAMOM (APR) Trend
•Consolidate • Buy on dips
Strategy Resistance Support
• R2 - 1266 • R1 - 1252 • S1 - 1238 • S2 - 1224
CHANA (APR) Trend Strategy Resistance
• R2 - 3890 • R1 - 3820
Support
• S1 - 3750 • S2 -3680
GUARGUM (APR) Trend
• Consolidate • Buy on dips
Strategy
• Consolidate • Buy on dips
GUARSEED (APR) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 -90930 • R1 - 89730
Resistance
• R2 - 28050 • R1 - 27690
Support
• S1 - 88930 • S2 - 87730
Support
• S1 - 27450 • S2 - 27090
JEERA (APR) Trend
Strategy
• Consolidate • Buy on dips
MENTHA OIL (MAR) Trend
• Consolidate • Buy on dips
Strategy
Resistance
• R2 - 12640 • R1 - 12340
Resistance
• R2 - 2213 • R1 - 2187
Support
• S1 - 12040 • S2 - 11740
Support
• S1 - 2161 • S2 - 2135
PEPPER (APR) Trend Strategy
• Consolidate • Sell on highs
RM SEED (APR) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 43235 • R1 - 42535
Resistance
• R2 - 4046 • R1 - 3971
Support
• S1 - 41875 • S2 - 41175
Support
• S1 - 3901 • S2 - 3826
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SOYABEAN (APR) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (MAY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 3039 •R1 - 2989
Resistance
• R2 - 4530 • R1 - 4430
Support
• S1 - 2939 • S2 - 2889
Support
• S1 - 4330 • S2 - 4230
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