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Daily Newsletter Newsletter-Agri Agri Commodity 13/04/2011

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MARKET WRAP Turmeric gains on bargain buying Jeera falls on weak overseas demand Pepper settles higher on export demand Soya bean, soy oil declines on profit booking Chana drops on robust supply Guar declines on profit booking Mentha oil falls on profit booking Cardamom declines on fresh 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. Strong buying interest amid bullish fundamentals of Pepper might add to the upside. Also good demand amid reduced supply is likely to support the prices. Dampening global demand for edible oil especially from China is putting pressure on the global soy market. The traders are of the opinion that the current prices are much higher for guar seed at which levels they are liquidating the stocks. The absence of any fresh export demand and the continued arrivals is exerting pressure on the prices. The bumper crop production of Chana across the regions of Rajasthan might have bearish impact on the prices. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (APR) Trend Strategy Resistance

• Consolidate • Sell on highs • R2 - 1145 • R1 - 1125 • S1 - 1080 • S2 - 1060

Support

GUARGUM (APR) Trend

• Consolidate • Sell on highs

Strategy

CHANA (APR APR) Trend Strategy

• Bearish • Sell on highs

Resistance

• R2 - 2410 • R1 - 2350

Support

• S1 - 2285 • S2 - 2240

GUARSEED (APR APR) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 8600 • R1 - 8450

Resistance

• R2 - 2980 • R1 - 2940

Support

• S1 - 8160 • S2 - 7980

Support

• S1 - 2845 • S2 - 2810

JEERA (APR) Trend Strategy

• Consolidate • Sell on highs

MENTHA OIL (APR APR) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 15900 • R1 - 15650

Resistance

• R2 - 1080 • R1 - 1060

Support

• S1 - 15250 • S2 - 15000

Support

• S1 - 1018 • S2 - 1000

PEPPER (APR) Trend Strategy

• Consolidate • Buy on dips

REFINED SOY OIL (APR APR) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 27000 • R1 - 26800

Resistance

• R2 - 630 • R1 - 625

Support

• S1 - 26300 • S2 - 25930

Support

• S1 - 610 • S2 - 600

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SOYABEAN (APR)) Trend Strategy

• Consolidate • sell on highs

TURMERIC (APR) (APR Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 2450 • R1 - 2415

Resistance

• R2 - 10600 • R1 - 10450

Support

• S1 - 2365 • S2 - 2340

Support

• S1 - 10200 • S2 - 10000

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