Daily Newsletter Newsletter-Agri Agri Commodity 19/05/2011
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MARKET WRAP Chana down on profit booking Jeera falls on supply Pepper drops on profit booking Soybean, Soy oil rises on global cues Guar remains flat Mentha oil regains on limited stocks Cardamom plunges on fresh arrivals Turmeric hits contract low
Turmeric price trend in the short term are likely to depend on the arrivals and demand from the overseas and domestic buyers. The Jeera futures are forecast to trade on a weaker note on extended selling pressure backed by bearish fundamental factors. Sluggish demand for the produce in the spot market from traders and exporters is likely to weigh on the market. Traders and investors are likely to buy Pepper futures on expectation of robust global demand. Tightening world supply of pepper is likely to render support to the market. Oilseed complex are expected to trade slightly higher on account of firm overseas market and lower existing carry-over stock of soybean and declining arrivals due to off season. Robust demand for guar gum in international market is likely to render support to the gum futures. Declining stock level might also render support for the gum futures. The chana futures are projected to resume its uptrend on emergence of fresh buying supported by strong fundamental factors. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (JUNE) Trend Strategy Resistance
• Consolidate • Sell on highs • R2 - 935 • R1 - 920 • S1 - 880 • S2 - 870
Support
GUARGUM (JUNE) Trend
• Bullish • Buy on dips
Strategy
CHANA (JUNE JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 2520 • R1 - 2500
Support
• S1 - 2430 • S2 - 2410
GUARSEED (JUNE JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 10600 • R1 - 10400
Resistance
• R2 - 3350 • R1 - 3305
Support
• S1 - 9980 • S2 - 9680
Support
• S1 - 3245 • S2 - 3200
JEERA (JUNE) Trend Strategy
• Consolidate • Sell on highs
MENTHA OIL (JUNE JUNE) Trend Strategy
• Bearish • Sell on highs
Resistance
• R2 - 15600 • R1 - 15300
Resistance
• R2 - 930 • R1 - 915
Support
• S1 - 14900 • S2 - 14750
Support
• S1 - 885 • S2 - 870
PEPPER (JUNE) Trend Strategy
• Consolidate • Buy on dips
REFINED SOY OIL (JUNE JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 31000 • R1 - 30500
Resistance
• R2 - 652 • R1 - 646
Support
• S1 - 29400 • S2 - 29000
Support
• S1 - 635 • S2 - 630
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SOYABEAN (JUNE)) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (JUNE JUNE) Trend Strategy
• Bearish • Sell on highs
Resistance
• R2 - 2450 • R1 - 2420
Resistance
• R2 - 8400 • R1 - 8200
Support
• S1 - 2375 • S2 - 2350
Support
• S1 - 7900 • S2 - 7700
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