Daily Newsletter-Agri Commodity 17/10/2011
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MARKET WRAP Turmeric ends down on fresh selling due to higher production estimates. Cardamom up on short covering for 2nd consecutive day amid festivals. Guar gum and guar seed ended down on the back of profit booking.
Spices ended down today with Turmeric losing nearly 3% or 158 pts followed by pepper losing 250 pts to end at 36345. In pulses, Chana ended up gaining 24 pts to end at 2989 on the back of short covering. Oil and oil seeds space were in green today gaining 0.5% – 1.0%. Guar gum and guar seed extended their downtrend for 2nd day.
COMMODITY
P. CLOSE
LAST CLOSE
NET CHANGE
% CHANGE
CARDAMOM
659.70
675.30
15.60
2.50
CHANA
2,965.00
2,989.00
24.00
0.81
GUARGUM
13101.00
12975.00
-126.00
-0.96
GUARSEED
4,609.00
4,603.00
-6.00
-0.13
JEERA
14,429.00
14,360.00
-69.00
-0.48
MENTHA OIL
1,329.60
1,326.70
-2.90
-0.22
PEPPER
36,590.00
36,345.00
-245.00
-0.67
MUSTARD SEED
2,818.00
2,810.00
-8.00
-0.28
SOYABEAN
2,144.00
2,145.00
1.00
0.05
TURMERIC
5,414.00
5,256.00
-158.00
-2.92
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TECHNICAL VIEW CARDAMOM (OCT) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 696 • R1 - 682 • S1 - 668 • S2 - 654
Support
GUARGUM (OCT) Trend
• Consolidate • Sell on high
Strategy
CHANA (OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 3080 • R1 - 3020
Support
• S1 - 2960 • S2 - 2900
GUARSEED (OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 13365 • R1 - 13105
Resistance
• R2 - 4740 • R1 - 4650
Support
• S1 - 12845 • S2 - 12585
Support
• S1 - 4560 • S2 - 4470
JEERA (OCT) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (OCT) Trend
Strategy
• Consolidate • Sell on high
Resistance
• R2 - 14795 • R1 - 14505
Resistance
• R2 - 1370 • R1 - 1344
Support
• S1 - 14215 • S2 - 13925
Support
• S1 - 1318 • S2 - 1292
PEPPER (OCT) Trend Strategy
• Consolidate • Buy on dips
MUSTARD SEED (OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 37405 • R1 - 36705
Resistance
• R2 - 2895 • R1 - 2840
Support
• S1 - 35985 • S2 - 35285
Support
• S1 - 2770 • S2 - 2715
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SOYABEAN (OCT) Trend Strategy
• Consolidate • Sell on high
TURMERIC (OCT) Trend Strategy
• Bearish • Sell on high
Resistance
• R2 - 2125 • R1 - 2085
Resistance
• R2 - 5405 • R1 - 5310
Support
• S1 - 2045 • S2 - 2005
Support
• S1 - 5205 • S2 - 5110
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