Daily Newsletter-Agri Commodity 12/10/2011
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MARKET WRAP Guar gum & seed up on fresh buying Turmeric ends down, hits lower circuit Jeera up on short covering RM Seed down on profit booking Mentha oil down on profit booking Chana up on fresh buying Pepper marginally up Cardamom ends down on fresh selling
Guar seed Pepper is expected to trade sideways to positive due strong domestic and export demand amid falling productivity in producing region will support the price in near term. Jeera is likely to trade sideways to positive due low arrival in the market though weak domestic as well as export demand will limited the upside. Turmeric is expected trade sideways to negative due to subdued demand in the market and expected rise in export amid high output estimates pressurize the price on higher level. Pepper is expected to trade sideways to positive due to thin supply and firm export demand in the market and lower arrival from fresh crop will keep the momentum upward. Cardamom is expected to trade sideways to negative due to weak domestic demand and overall weak trend and higher arrival from fresh crop will pressurize the price on higher level.
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TECHNICAL VIEW CARDAMOM (OCT) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 716 • R1 - 702 • S1 - 688 • S2 - 675
Support
GUARGUM (OCT) Trend
• Consolidate • Byu on dips
Strategy
CHANA (OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 3140 • R1 - 3075
Support
• S1 - 3015 • S2 - 2960
GUARSEED (OCT) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 13750 • R1 - 13490
Resistance
• R2 - 4850 • R1 - 4755
Support
• S1 - 13220 • S2 - 12950
Support
• S1 - 4660 • S2 - 4570
JEERA (OCT) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (OCT) Trend
Strategy
• Consoiidate • Buy on dips
Resistance
• R2 - 14950 • R1 - 14660
Resistance
• R2 - 1405 • R1 - 1380
Support
• S1 - 14375 • S2 - 14050
Support
• S1 - 1355 • S2 - 1325
PEPPER (OCT) Trend Strategy
• Consolidate • Buy on dips
MUSTARD SEED (OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 37760 • R1 - 37060
Resistance
• R2 - 2845 • R1 - 2790
Support
• S1 - 36300 • S2 - 35600
Support
• S1 - 2735 • S2 - 2680
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SOYABEAN (OCT) Trend Strategy
• Consolidate • Sell on high
TURMERIC (OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 2130 • R1 - 2090
Resistance
• R2 - 5365 • R1 - 5270
Support
• S1 - 2050 • S2 - 2010
Support
• S1 - 5165 • S2 - 5070
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