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Daily Newsletter-Agri Commodity 23/02/2012

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MARKET WRAP Chana extends up for 3rd consecutive day Jeera rebounds on short covering, up 1% Pepper sizzles up, hits upper circuit

Chana extended its uptrend for third consecutive day on the back of extended buying due to concerns of lower acreage and output as it added 68 pts or 1.92%. Mentha oil extended uptrend adding 25.5 pts or 1.56%. Jeera rebounded due to short covering at lower levels adding nearly 1% while Pepper hit upper circuit adding 44% or 1285 pts.

COMMODITY

P. CLOSE

LAST CLOSE

NET CHANGE

% CHANGE

CARDAMOM

828.50

841.10

12.60

1.52

CHANA

3,541.00

3,609.00

68.00

1.92

GUARGUM

49,346.00

49,150.00

-196.00

-0.40

GUARSEED

15,499.00

15,432.00

-67.00

-0.43

JEERA

13,804.00

13,930.00

126.00

0.91

MENTHA OIL

1,633.00

1,658.50

25.50

1.56

PEPPER

32,090.00

33,375.00

1,285.00

4.00

MUSTARD SEED

3,593.00

3,545.00

-48.00

-1.34

SOYABEAN

2,630.50

2,595.00

-35.50

-1.35

TURMERIC

4,704.00

4,686.00

-18.00

-0.38

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TECHNICAL VIEW CARDAMOM (MAR) Trend

• Consolidate • Buy on dips

Strategy Resistance Support

• R2 - 870 • R1 - 850 • S1 - 830 • S2 - 810

CHANA (MAR) Trend Strategy Resistance

• R2 - 3790 • R1 - 3650

Support

• S1 - 3570 • S2 - 3500

GUARGUM (MAR) Trend

• Consolidate • Buy on dips

Strategy

• Consolidate • Buy on dips

GUARSEED (MAR) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 50950 • R1 - 49550

Resistance

• R2 - 15950 • R1 - 15550

Support

• S1 - 48800 • S2 - 47150

Support

• S1 - 15300 • S2 - 14900

JEERA (MAR) Trend

Strategy

• Consolidate • Sell on high

MENTHA OIL (FEB) Trend

Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 14400 • R1 - 14080

Resistance

• R2 - 1700 • R1 - 1670

Support

• S1 - 13780 • S2 - 13480

Support

• S1 - 1640 • S2 - 1610

PEPPER (MAR) Trend Strategy

• Consolidate • Sell on high

MUSTARD SEED (MAY) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 34400 • R1 - 33700

Resistance

• R2 - 3650 • R1 - 3580

Support

• S1 - 33050 • S2 - 32300

Support

• S1 - 3510 • S2 - 3430

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SOYABEAN (MAR) Trend Strategy

• Consolidate • Buy on dips

TURMERIC (MAY) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 2670 • R1 - 2620

Resistance

• R2 - 4890 • R1 - 4750

Support

• S1 - 2570 • S2 - 2520

Support

• S1 - 4640 • S2 - 4510

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Daily Newsletter-Agri Commodity 23/02/2012  

Chana extends up for 3rd consecutive day. Jeera rebounds on short covering, up 1%. Pepper sizzles up, hits upper circuit. Chana extended its...

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