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Daily Newsletter Newsletter-Agri Agri Commodity 03/06/2011

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MARKET WRAP Chana up on demand Short covering props up Jeera Pepper up on short covering Soy oil rise on arrivals & global markets Guar up on short covering Mentha oil gains on rising demand Cardamom plunges on rising arrivals Turmeric down

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 - 755 • R1 - 740 • S1 - 710 • S2 - 700

Support

GUARGUM (JUNE) Trend

• Bullish • Buy on dips

Strategy

CHANA (JUNE JUNE) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 2590 • R1 - 2565

Support

• S1 - 2500 • S2 - 2470

GUARSEED (JUNE JUNE) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 10750 • R1 - 10600

Resistance

• R2 - 3400 • R1 - 3355

Support

• S1 - 10300 • S2 - 10100

Support

• S1 - 3290 • S2 - 3250

JEERA (JUNE) Trend Strategy

• Consolidate • Buy on dips

MENTHA OIL (JUNE JUNE) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 15050 • R1 - 14650

Resistance

• R2 - 900 • R1 - 885

Support

• S1 - 13900 • S2 - 13550

Support

• S1 - 855 • S2 - 840

PEPPER (JUNE) Trend Strategy

• Consolidate • Buy on dips

REFINED SOY OIL (JUNE JUNE) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 30000 • R1 - 29500

Resistance

• R2 - 670 • R1 - 665

Support

• S1 - 28800 • S2 - 28500

Support

• S1 - 652 • S2 - 646

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SOYABEAN (JUNE)) Trend Strategy

• Consolidate • Sell on highs

TURMERIC (JUNE JUNE) Trend Strategy

• Bearish • Sell on highs

Resistance

• R2 - 2430 • R1 - 2400

Resistance

• R2 - 7700 • R1 - 7600

Support

• S1 - 2340 • S2 - 2310

Support

• S1 - 7350 • S2 - 7200

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