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Daily Newsletter Newsletter-Agri Agri Commodity 12/05/2011

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MARKET WRAP Chana up on domestic demand Jeera up on bargain buying Pepper hits contract high Soybean, Soy oil flat following global markets Guar down on profit booking Mentha oil weakens on profit booking Cardamom plunges on fresh arrivals Turmeric regains on fresh buying

Turmeric price trend in the short term (till May) are likely to depend on the arrivals and demand from the overseas and domestic buyers. Jeera prices in the intraday will trade sideways due to lackluster trades at the domestic market. Arrivals in the market have started to decline gradually due to ending season. Lower supplies both in the domestic as well as in the international coupled with hoarding of Pepper by the Vietnam farmers will support pepper prices in the short term. Oilseed complex are expected to trade lower due to weak global market sentiments as concern of palm oil supply and subdued demand in physical market. The concerns about the shift in acreage from the guar to cotton in the irrigated guar producing belt are supportive for the prices. Guar futures are likely to trade firm owing to demand from the overseas buyers. Chana prices might decline initially on the reports of timely withdrawal of monsoon which would boost the output of Pulses. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (JUNE) Trend Strategy Resistance

• Consolidate • Sell on highs • R2 - 980 • R1 - 960 • S1 - 920 • S2 - 900

Support

GUARGUM (MAY) Trend

• Bullish • Buy on dips

Strategy

CHANA (MAY MAY) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 2380 • R1 - 2355

Support

• S1 - 2310 • S2 - 2285

GUARSEED (MAY MAY) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 9750 • R1 - 9670

Resistance

• R2 - 3250 • R1 - 3215

Support

• S1 - 9400 • S2 - 9230

Support

• S1 - 3140 • S2 - 3100

JEERA (MAY) Trend Strategy

• Consolidate • Sell on highs

MENTHA OIL (APR APR) Trend Strategy

• Bearish • Sell on highs

Resistance

• R2 - 14760 • R1 - 14600

Resistance

• R2 - 965 • R1 - 945

Support

• S1 - 14000 • S2 - 13750

Support

• S1 - 910 • S2 - 890

PEPPER (MAY) Trend Strategy

• Bullish • Buy on dips

REFINED SOY OIL (MAY MAY) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 31500 • R1 - 31000

Resistance

• R2 - 630 • R1 - 625

Support

• S1 - 30000 • S2 - 29650

Support

• S1 - 612 • S2 - 606

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SOYABEAN (MAY)) Trend Strategy

• Bearish • Sell on highs

TURMERIC (MAY MAY) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 2385 • R1 - 2350

Resistance

• R2 - 8740 • R1 - 8650

Support

• S1 - 2300 • S2 - 2280

Support

• S1 - 8440 • S2 - 8270

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