Daily Newsletter Newsletter-Agri Agri Commodity 07/06/2011
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MARKET WRAP Chana falls on profit booking Jeera falls on weak exports Pepper extend gain on short covering Soy oil, soybean fall on monsoon rain progress Guar down on rains Mentha oil falls on profit booking Cardamom up on short covering Turmeric drops on sluggish demand
Turmeric prices in the intraday will trade sideways due to lackluster demand from local stockists. Demand from north India is also poor that is why traders are not interested in bulk buying. 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. Trade of cheap imported pepper along with panic selling due to introduction of special margin might add to the down side. 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. The near term demand for the edible oil and the soy bean for sowing purposes may lend support to the oil prices. 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 - 775 • R1 - 760 • S1 - 730 • S2 - 715
Support
GUARGUM (JUNE) Trend
• Bullish • Buy on dips
Strategy
CHANA (JUNE JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 2585 • R1 - 2560
Support
• S1 - 2500 • S2 - 2470
GUARSEED (JUNE JUNE) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 10900 • R1 - 10500
Resistance
• R2 - 3330 • R1 - 3290
Support
• S1 - 10100 • S2 - 9850
Support
• S1 - 3190 • S2 - 3150
JEERA (JUNE) Trend Strategy
• Consolidate • Buy on dips
MENTHA OIL (JUNE JUNE) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 14450 • R1 - 14200
Resistance
• R2 - 920 • R1 - 905
Support
• S1 - 13500 • S2 - 13350
Support
• S1 - 865 • S2 - 850
PEPPER (JUNE) Trend Strategy
• Consolidate • Buy on dips
REFINED SOY OIL (JUNE JUNE) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 30650 • R1 - 30000
Resistance
• R2 - 660 • R1 - 655
Support
• S1 - 29200 • S2 - 28800
Support
• S1 - 645 • S2 - 640
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SOYABEAN (JUNE)) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (JUNE JUNE) Trend Strategy
• Bearish • Sell on highs
Resistance
• R2 - 2410 • R1 - 2380
Resistance
• R2 - 7580 • R1 - 7430
Support
• S1 - 2340 • S2 - 2315
Support
• S1 - 7150 • S2 - 7000
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