Daily Newsletter Newsletter-Agri Agri Commodity 13/05/2011
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MARKET WRAP Chana up on domestic demand Jeera trades down on arrival pressure Pepper remains steady Soybean, Soy oil tumbles on production estimates Guar down on profit booking Mentha oil weakens on profit booking Cardamom plunges on fresh arrivals Turmeric regains on fresh buying
Turmeric price trend in the short term (till May) are likely to depend on the arrivals and demand from the overseas and domestic buyers. Jeera prices in the intraday will trade sideways due to lackluster trades at the domestic market. Arrivals in the market have started to decline gradually due to ending season. Lower supplies both in the domestic as well as in the international coupled with hoarding of Pepper by the Vietnam farmers will support pepper prices in the short term. Delayed planting of soybean due to Mississippi river flood provided support to the bulls. Improved demand in physical market as marriage season demand also added bullish market sentiments. Guar price movement would be dependent on export demand as long as the monsoon forecast remains favorable. Exports would continue to remain firm owing to an increase in demand from the oil sector. Chana prices might decline initially on the reports of timely withdrawal of monsoon which would boost the output of Pulses. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (JUNE) Trend Strategy Resistance
• Consolidate • Sell on highs • R2 - 960 • R1 - 945 • S1 - 905 • S2 - 885
Support
GUARGUM (JUNE) Trend
• Consolidate • Buy on dips
Strategy
CHANA (JUNE JUNE) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 2460 • R1 - 2440
Support
• S1 - 2390 • S2 - 2360
GUARSEED (JUNE JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 10000 • R1 - 9910
Resistance
• R2 - 3305 • R1 - 3275
Support
• S1 - 9580 • S2 - 9400
Support
• S1 - 3170 • S2 - 3140
JEERA (JUNE) Trend Strategy
• Consolidate • Sell on highs
MENTHA OIL (JUNE JUNE) Trend Strategy
• Bearish • Sell on highs
Resistance
• R2 - 15300 • R1 - 15100
Resistance
• R2 - 915 • R1 - 905
Support
• S1 - 14500 • S2 - 14300
Support
• S1 - 880 • S2 - 870
PEPPER (JUNE) Trend Strategy
• Bullish • Buy on dips
REFINED SOY OIL (JUNE JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 31400 • R1 - 30900
Resistance
• R2 - 630 • R1 - 625
Support
• S1 - 29900 • S2 - 29500
Support
• S1 - 615 • S2 - 610
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SOYABEAN (JUNE)) Trend Strategy
• Bearish • Sell on highs
TURMERIC (MAY MAY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 2415 • R1 - 2395
Resistance
• R2 - 8980 • R1 - 8870
Support
• S1 - 2320 • S2 - 2275
Support
• S1 - 8600 • S2 - 8450
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