Daily Newsletter-Agri Commodity 01/11/2011
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MARKET WRAP Cardamom plunges on sluggish demand Mentha oil surges on expectation of higher export Soybean ended down on global cues
In spices traded mixed today Pepper ended up 1.10% or 375 pts due to short covering while Jeera ended down 1.42% or 207 pts due to overall weak trend. Guar gum & guar seed ended down 2.36% and 1.65% respectively due to arrival pressure. Mentha oil ended up 2.6% or 34 pts due to fresh buying from pharmaceutical Industry.
COMMODITY
P. CLOSE
LAST CLOSE
NET CHANGE
% CHANGE
CARDAMOM
678.50
662.50
-16.00
-2.36
CHANA
3,422.00
3,430.00
8.00
0.23
GUARGUM
14,062.00
13,730.00
-332.00
-2.36
GUARSEED
4,545.00
4,470.00
-75.00
-1.65
JEERA
14,563.00
14,356.00
-207.00
-1.42
MENTHA OIL
1,297.40
1,331.50
34.10
2.63
PEPPER
33,875.00
34,250.00
375.00
1.11
MUSTARD SEED
3,079.00
3,061.00
-18.00
-0.58
SOYABEAN
2,206.50
2,175.50
-31.00
-1.40
TURMERIC
5,030.00
5,018.00
-12.00
-0.24
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TECHNICAL VIEW CARDAMOM (NOV) Trend Strategy Resistance
• Consolidate • Sell on high • R2 - 684 • R1 - 670 • S1 - 656 • S2 - 642
Support
GUARGUM (NOV) Trend
• Consolidate • Buy on dips
Strategy
CHANA (NOV) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 3520 • R1 - 3460
Support
• S1 - 3400 • S2 - 3340
GUARSEED (NOV) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 14120 • R1 - 13860
Resistance
• R2 - 4605 • R1 - 4515
Support
• S1 - 13600 • S2 - 13340
Support
• S1 - 4425 • S2 - 4335
JEERA (NOV) Trend Strategy
• Consolidate • Sell on high
MENTHA OIL (NOV) Trend
Strategy
• Consolidate • Sell on high
Resistance
• R2 - 14810 • R1 - 14505
Resistance
• R2 - 1371 • R1 - 1345
Support
• S1 - 14205 • S2 - 13910
Support
• S1 - 1320 • S2 - 1295
PEPPER (NOV) Trend Strategy
• Consolidate • Sell on high
MUSTARD SEED (NOV) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 35310 • R1 - 34615
Resistance
• R2 - 3145 • R1 - 3090
Support
• S1 - 33885 • S2 - 33180
Support
• S1 - 3035 • S2 - 2980
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SOYABEAN (NOV) Trend Strategy
• Consolidate • Sell on high
TURMERIC (NOV) Trend Strategy
• Bearish • Sell on high
Resistance
• R2 - 2235 • R1 - 2195
Resistance
• R2 - 5170 • R1 - 5068
Support
• S1 - 2155 • S2 - 2115
Support
• S1 - 4970 • S2 - 4865
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