Daily Newsletter Newsletter-Agri Agri Commodity 13/07/2011
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MARKET WRAP Chana hits contract high Jeera down on higher supply Pepper falls on profit booking Oilseeds, soy oil drops on soybean growing pace Guar hits contract high on demand Turmeric up on lower sowing Mentha oil falls on profit booking
There is some scope for upside movement on the back of a strong demand from pharmaceutical companies, besides export demand. Turmeric futures may remain sideways following reports of slowdown in sowing due to poor rains in producing regions. Good export & domestic demand, lower stocks and a fall in production of Pepper are likely to support the market sentiments in the near term. Better Indian quality and availability of stocks could shift the Gulf demand ahead of Ramzan towards India in the coming weeks. The short term trend is likely to remain very volatile with trading activities set to rise in Chana. A higher production prospect for Chana and other Pulses could prevent the rates from moving up significantly. Uncertainty over rains in Rajasthan kept the trend highly volatile for Guar as good exports demand kept the trend up for the commodity. Concerns about higher stock levels and the expectations of increase in Kharif oilseed production by 9% are affecting the Mustard Seed market sentiments. CPO futures to dip on Malaysian prices. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (AUG) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 870 • R1 - 855 • S1 - 825 • S2 - 810
Support
GUARGUM (JULY) Trend
• Bullish • Buy on dips
Strategy
CHANA (JULY JULY) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 2920 • R1 - 2890
Support
• S1 - 2850 • S2 - 2820
GUARSEED (JULY JULY) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 12700 • R1 - 12500
Resistance
• R2 - 3960 • R1 - 3930
Support
• S1 - 12000 • S2 - 11900
Support
• S1 - 3860 • S2 - 3830
JEERA (JULY) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (JULY JULY) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 14800 • R1 - 14600
Resistance
• R2 - 1135 • R1 - 1115
Support
• S1 - 13800 • S2 - 13550
Support
• S1 - 1080 • S2 - 1060
PEPPER (JULY) Trend Strategy
• Consolidate • Sell on high
MUSTARD SEED (JULY JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 27500 • R1 - 27200
Resistance
• R2 - 2890 • R1 - 2870
Support
• S1 - 26500 • S2 - 26200
Support
• S1 - 2815 • S2 - 2790
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SOYABEAN (JULY)) Trend Strategy
• Consolidate • Sell on high
TURMERIC (JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 2320 • R1 - 2300
Resistance
• R2 - 8300 • R1 - 8150
Support
• S1 - 2250 • S2 - 2230
Support
• S1 - 7730 • S2 - 7600
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