Daily Newsletter Newsletter-Agri Agri Commodity 26/05/2011
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MARKET WRAP Chana up on increased demand Jeera hits contract low on weak demand Pepper falls on selling pressure Soy oil rises on crude palm oil Guar up due to demand Mentha oil drops on higher arrivals Cardamom trades up on short covering Turmeric falls on supply
Turmeric prices in the intraday will trade sideways due to lackluster demand from local stockists Jeera prices in the intraday will trade sideways to up due to dwindling arrivals in the domestic market. Any reports of crop damage in Syria might support prices in the short term. Pepper prices are likely to trade sideways to up owing to lower availability at the domestic and overseas market in the short term. Hoarding of Pepper by the Vietnam farmers will also help prices to remain firm. The concerns about the early onset of the monsoon might raise the hopes for higher acreage under guar seed which might affect market sentiments for coming days. Good demand for Chana across the spot market ahead of upcoming festive season is likely to support the prices. Oilseed complex are expected to trade slightly higher on account of firm overseas market as delayed US soybean plantations and improved demand of palm oil from India and Middle East. Lack of buying interest at spot market might weigh on Cardamom prices. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (JUNE) Trend Strategy Resistance
• Bearish • Sell on highs • R2 - 885 • R1 - 870 • S1 - 835 • S2 - 820
Support
GUARGUM (JUNE) Trend
• Bullish • Buy on dips
Strategy
CHANA (JUNE JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 2600 • R1 - 2575
Support
• S1 - 2510 • S2 - 2480
GUARSEED (JUNE JUNE) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 10700 • R1 - 10500
Resistance
• R2 - 3450 • R1 - 3400
Support
• S1 - 10250 • S2 - 10100
Support
• S1 - 3290 • S2 - 3260
JEERA (JUNE) Trend Strategy
• Bearish • Sell on highs
MENTHA OIL (JUNE JUNE) Trend Strategy
• Bearish • Sell on highs
Resistance
• R2 - 15050 • R1 - 14800
Resistance
• R2 - 890 • R1 - 875
Support
• S1 - 14250 • S2 - 14000
Support
• S1 - 840 • S2 - 825
PEPPER (JUNE) Trend Strategy
• Consolidate • Sell on highs
REFINED SOY OIL (JUNE JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 30700 • R1 - 30000
Resistance
• R2 - 660 • R1 - 655
Support
• S1 - 28750 • S2 - 28000
Support
• S1 - 640 • S2 - 635
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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 - 2410
Resistance
• R2 - 8250 • R1 - 8100
Support
• S1 - 2380 • S2 - 2350
Support
• S1 - 7800 • S2 - 7650
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