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Daily Newsletter Newsletter-Agri Agri Commodity 18/04/2011

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MARKET WRAP Turmeric gains on bargain buying Jeera hit contract low on supply, seen weak Pepper hits contract high, retreats on weak exports Soya bean, soy oil seen down for 3rd day in row Chana ends lower on arrivals Guar end tad up on demand, seen steady Mentha recovers on short covering 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 (MAY) Trend Strategy Resistance

• Consolidate • Sell on highs • R2 - 1170 • R1 - 1150 • S1 - 1110 • S2 - 1085

Support

GUARGUM (MAY) Trend

• Consolidate • Sell on highs

Strategy

CHANA (MAY MAY) Trend Strategy

• Bearish • Sell on highs

Resistance

• R2 - 2440 • R1 - 2415

Support

• S1 - 2363 • S2 - 2330

GUARSEED (MAY MAY) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 8850 • R1 - 8650

Resistance

• R2 - 3040 • R1 - 3010

Support

• S1 - 8370 • S2 - 8200

Support

• S1 - 2950 • S2 - 2915

JEERA (MAY) Trend Strategy

• Bearish • Sell on highs

MENTHA OIL (APR APR) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 16150 • R1 - 15800

Resistance

• R2 - 1080 • R1 - 1060

Support

• S1 - 15300 • S2 - 14900

Support

• S1 - 1018 • S2 - 1000

PEPPER (MAY) Trend Strategy

• Consolidate • Buy on dips

REFINED SOY OIL (MAY MAY) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 27600 • R1 - 27300

Resistance

• R2 - 625 • R1 - 620

Support

• S1 - 26700 • S2 - 26300

Support

• S1 - 605 • S2 - 600

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SOYABEAN (MAY)) Trend Strategy

• Consolidate • sell on highs

TURMERIC (MAY MAY) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 2475 • R1 - 2440

Resistance

• R2 - 9300 • R1 - 9150

Support

• S1 - 2390 • S2 - 2370

Support

• S1 - 8800 • S2 - 8650

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