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Daily Newsletter Newsletter-Agri Agri Commodity 21/04/2011

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MARKET WRAP Turmeric tumbles on profit booking Jeera slumps on higher arrivals Pepper ends higher on supply crunch Soya bean, soy oil rise on global market Chana futures extend gains Guar ends flat Mentha drops on subdued demand Cardamom rises on weak arrivals

Turmeric prices in the intraday will trade firm due to improved buying by the market participants. Stockiest at the market are not willing to offload their stocks at lower levels. Rising arrivals of Jeera at spot market amid peak arrivals season are keeping the prices under pressure. Export demand from gulf countries is also very poor which might weigh on sentiments. Overall trend of Pepper is bullish due to limited stocks and good demand at domestic and export front. Soybean prices are expected to trade lower on account or higher production estimates of Brazil coupled with favorable weather for harvest in Argentina. The monsoon reports might cause concerns about the increase in acreage under guar seed which affect the sentiments in the markets. The absence of any fresh export demand and the continued arrivals is exerting pressure on the prices. Chana prices in the intraday are expected to decline on account of increase in fresh arrivals in the market particularly from Rajasthan. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (MAY) Trend Strategy Resistance

• Consolidate • Sell on highs • R2 - 1110 • R1 - 1090 • S1 - 1060 • S2 - 1030

Support

GUARGUM (MAY) Trend

• Consolidate • Sell on highs

Strategy

CHANA (MAY MAY) Trend Strategy

• Bearish • Sell on highs

Resistance

• R2 - 2395 • R1 - 2365

Support

• S1 - 2290 • S2 - 2260

GUARSEED (MAY MAY) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 8800 • R1 - 8600

Resistance

• R2 - 3030 • R1 - 3000

Support

• S1 - 8350 • S2 - 8250

Support

• S1 - 2925 • S2 - 2890

JEERA (MAY) Trend Strategy

• Bearish • Sell on highs

MENTHA OIL (APR APR) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 15600 • R1 - 15300

Resistance

• R2 - 1080 • R1 - 1060

Support

• S1 - 14900 • S2 - 14600

Support

• S1 - 1040 • S2 - 1020

PEPPER (MAY) Trend Strategy

• Consolidate • Buy on dips

REFINED SOY OIL (MAY MAY) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 27000 • R1 - 26700

Resistance

• R2 - 635 • R1 - 630

Support

• S1 - 26100 • S2 - 25800

Support

• S1 - 615 • S2 - 610

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SOYABEAN (MAY)) Trend Strategy

• Consolidate • Sell on highs

TURMERIC (MAY MAY) Trend Strategy

• Bearish • Sell on highs

Resistance

• R2 - 2475 • R1 - 2455

Resistance

• R2 - 9100 • R1 - 8950

Support

• S1 - 2420 • S2 - 2390

Support

• S1 - 8650 • S2 - 8500

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