Daily Newsletter Newsletter-Agri Agri Commodity 20/04/2011
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MARKET WRAP Turmeric surges on short covering Jeera regains on domestic demand Pepper settles down on rising arrivals Soya bean, soy oil seen extending losses Chana hits contract low Guar gains on weak arrivals Mentha drops on subdued demand Cardamom falls on profit booking
Turmeric prices in the intraday will trade firm due to improved buying by the market participants. Stockiest at the market are not willing to offload their stocks at lower levels. Rising arrivals of Jeera at spot market amid peak arrivals season are keeping the prices under pressure. Export demand from gulf countries is also very poor which might weigh on sentiments. Overall trend of Pepper is bullish due to limited stocks and good demand at domestic and export front. Soybean prices are expected to trade lower on account or higher production estimates of Brazil coupled with favorable weather for harvest in Argentina. The traders are of the opinion that the current prices are much higher for guar seed at which levels they are liquidating the stocks. The absence of any fresh export demand and the continued arrivals is exerting pressure on the prices. Chana prices in the intraday are expected to decline on account of increase in fresh arrivals in the market particularly from Rajasthan. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (MAY) Trend Strategy Resistance
• Consolidate • Sell on highs • R2 - 1110 • R1 - 1090 • S1 - 1060 • S2 - 1030
Support
GUARGUM (MAY) Trend
• Consolidate • Sell on highs
Strategy
CHANA (MAY MAY) Trend Strategy
• Bearish • Sell on highs
Resistance
• R2 - 2400 • R1 - 2375
Support
• S1 - 2325 • S2 - 2290
GUARSEED (MAY MAY) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 8840 • R1 - 8650
Resistance
• R2 - 3030 • R1 - 3000
Support
• S1 - 8450 • S2 - 8200
Support
• S1 - 2925 • S2 - 2860
JEERA (MAY) Trend Strategy
• Bearish • Sell on highs
MENTHA OIL (APR APR) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 15860 • R1 - 15650
Resistance
• R2 - 1080 • R1 - 1060
Support
• S1 - 15200 • S2 - 14870
Support
• S1 - 1030 • S2 - 1010
PEPPER (MAY) Trend Strategy
• Consolidate • Sell on highs
REFINED SOY OIL (MAY MAY) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 27000 • R1 - 26600
Resistance
• R2 - 630 • R1 - 625
Support
• S1 - 25850 • S2 - 25500
Support
• S1 - 610 • S2 - 605
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SOYABEAN (MAY)) Trend Strategy
• Consolidate • Sell on highs
TURMERIC (MAY MAY) Trend Strategy
• Bearish • Sell on highs
Resistance
• R2 - 2480 • R1 - 2450
Resistance
• R2 - 9300 • R1 - 9150
Support
• S1 - 2410 • S2 - 2390
Support
• S1 - 8700 • S2 - 8500
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