Daily Newsletter Newsletter-Agri Agri Commodity 10/03/2011
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MARKET WRAP Turmeric rises on extend buying Jeera slumps on fresh arrivals Pepper up on short covering Soy bean, soy oil rise on bargain buying Chana up on short covering Potato surges on weak arrivals Cardamom gains on fresh buying
The turmeric arrivals expected to rise in coming weeks could pressurize prices to some extent but traders believe export demand would determine the trend for the commodity. Low stock levels could support the rates further. Thus some firmness could be noted for the commodity amidst high volatility depending on the reports on the production and export front. Demand from US and European countries for Jeera is likely to shift more towards India in coming weeks due to low stocks in the International markets. Export demand from South-East Asian countries have been there. The trend would depend on the crop arrivals of Pepper in Vietnam and its effect on the Indian exports. Market is waiting for release of February month edible oil import data, which is likely to be released next week. Physical markets are witnessing subdued trading on poor demand and higher supply of the oil. The arrivals of Guar have come to an end across the spot markets which have resulted in subdued spot activities. The predictions of the normal monsoon are weighing on the market sentiments. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (MAR) Trend Strategy Resistance
• Consolidate • Buy on dips • R2 - 1170 • R1 - 1148 • S1 - 1100 • S2 - 1080
Support
GUARGUM (MAR) Trend
• Consolidate • Sell on highs
Strategy
CHANA (MAR MAR) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 2500 • R1 - 2470
Support
• S1 - 2420 • S2 - 2390
GUARSEED (MAR MAR) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 8350 • R1 - 8200
Resistance
• R2 - 2925 • R1 - 2870
Support
• S1 - 7870 • S2 - 7710
Support
• S1 - 2757 • S2 - 2700
JEERA (MAR) Trend Strategy
• Consolidate • Sell on highs
MENTHA OIL (MAR MAR) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 16870 • R1 - 16545
Resistance
• R2 - 1172 • R1 - 1150
Support
• S1 - 15895 • S2 - 15570
Support
• S1 - 1105 • S2 - 1083
PEPPER (MAR) Trend Strategy
• Consolidate • Sell on highs
REFINED SOY OIL (MAR MAR) Trend Strategy
• Consolidate • Sell on highs
Resistance
• R2 - 23220 • R1 - 22775
Resistance
• R2 - 640 • R1 - 630
Support
• S1 - 21885 • S2 - 21440
Support
• S1 - 615 • S2 - 605
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SOYABEAN (MAR)) Trend Strategy
• Consolidate • Sell on highs
TURMERIC (APR) (APR Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 2435 • R1 - 2410
Resistance
• R2 - 11300 • R1 - 11085
Support
• S1 - 2350 • S2 - 2325
Support
• S1 - 10650 • S2 - 10432
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