Daily Newsletter-Agri Commodity 05/11/2011
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MARKET WRAP Chana ends up on short covering Turmeric ends down on profit booking Guar gum & seed up on fresh buying
Spices traded in red today with turmeric losing almost 1.40% or 70 pts due to profit booking on the back of subdued demand and Pepper shredding 1.70% or 580 pts due to decline in export and expectation of higher arrival from fresh crops. In pluses, Chana ended up in green, up 1.46% or 50 pts due to short covering and weak arrival.
COMMODITY
P. CLOSE
LAST CLOSE
NET CHANGE
% CHANGE
CARDAMOM
652.90
646.80
-6.10
-0.93
CHANA
3,405.00
3,455.00
50.00
1.47
GUARGUM
13,907.00
14,151.00
244.00
1.75
GUARSEED
4,536.00
4,556.00
20.00
0.44
JEERA
14,391.00
14,270.00
-121.00
-0.84
MENTHA OIL
1,339.50
1,328.00
-11.50
-0.86
PEPPER
33,660.00
33,080.00
-580.00
-1.72
MUSTARD SEED
3,060.00
3,070.00
10.00
0.33
SOYABEAN
2,202.50
2,215.00
12.50
0.57
TURMERIC
5,074.00
5,004.00
-70.00
-1.38
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TECHNICAL VIEW CARDAMOM (NOV) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 668 • R1 - 654 • S1 - 640 • S2 - 626
Support
GUARGUM (NOV) Trend
• Consolidate • Buy on dips
Strategy
CHANA (NOV) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 3545 • R1 - 3485
Support
• S1 - 3425 • S2 - 3365
GUARSEED (NOV) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 14540 • R1 - 14280
Resistance
• R2 - 4690 • R1 - 4600
Support
• S1 - 14020 • S2 - 13760
Support
• S1 - 4510 • S2 - 4420
JEERA (NOV) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (NOV) Trend
Strategy
• Consolidate • Sell on high
Resistance
• R2 - 14720 • R1 - 14420
Resistance
• R2 - 1367 • R1 - 1340
Support
• S1 - 14120 • S2 - 13820
Support
• S1 - 1315 • S2 - 1289
PEPPER (NOV) Trend Strategy
• Consolidate • Sell on high
MUSTARD SEED (NOV) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 34150 • R1 - 33445
Resistance
• R2 - 3152 • R1 - 3098
Support
• S1 - 32715 • S2 - 32015
Support
• S1 - 3045 • S2 - 2985
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SOYABEAN (NOV) Trend Strategy
• Consolidate • Sell on high
TURMERIC (NOV) Trend Strategy
• Bearish • Sell on high
Resistance
• R2 - 2275 • R1 - 2235
Resistance
• R2 - 5155 • R1 - 5055
Support
• S1 - 2195 • S2 - 2155
Support
• S1 - 4955 • S2 - 4855
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